Data AcquisitionReading Corner

A new paradigm for business of data

Press Release 29 Jul - 19:15 SAST

A new paradigm for business of data

Press Release 29 Jul - 19:15 SAST

Information from the World Economic Forum

Data is the lifeblood of the digital economy. While the exponential growth of data has the potential to enable better outcomes and new value for all, the way businesses, governments and consumers use data can also exacerbate exclusion, the unequal concentration of power and wealth, and social instability. For businesses, understanding how to leverage data is a critical component to success.

This World Economic Forum (WEF) report highlights replicable learnings and practices from organisations leading the way in a new business paradigm for data that empowers stakeholders, is grounded in ecosystem partnerships and creates sustainable value for all. Utilising live, successful examples from across the business community today, it highlights:

  • New opportunities for data-driven value creation, categorised into four archetypes: new value pools, new business models, richer stakeholder experiences and better decisions
  • Technologies that are opening new possibilities for companies to protect their own interests and those of others
  • The new paradigm that these twin trends are driving – one that leverages stakeholder interests as a core design parameter in building sustainable and shared value

The report is intended as a starting point to advance actionable understanding on this emerging set of approaches – to catalyse further replication, collaboration and innovation.

Read the full report here.