Data collaboration takes data alignment to the next level by supplementing existing data resources with data from other companies to fill gaps and gain new capabilities.
Joint data ecosystems created through data collaboration offer access to diverse resources, including people, processes, systems, and AI models tailored to industry-specific needs.
Collaboration example: Williams-Sonoma and Whole Foods share data insights, allowing proactive inventory adjustments and targeted marketing based on each other's findings.
Effective data collaboration requires businesses to understand its fundamentals and leverage shared data to streamline transactions, gain efficiencies, and discover new insights.
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