Unlocking the Power of Data: Beyond Compliance with Open Data

Data is more than a technical asset—it's a powerful business tool. While often seen as a compliance hurdle, data can drive strategic decisions and foster innovation when leveraged correctly.

Key Points:

• Organizations must focus on identifying and curating data, facilitating data exchange, and using data for transformation and analytics.
• Open Innovation, stemming from the open source movement of the early 90s, plays a crucial role in establishing a frictionless and accessible data chain within organizations.
• Data sharing, endorsed by many governments, treats data as an asset, emphasizes reuse over redundancy, and promotes open data with safeguards.
• Initiatives like Open Banking in Europe and Australia's Consumer Data Right (CDR) highlight the global momentum towards secure data sharing and open finance.
• Derived data, created through advanced analysis of raw data points, offers new insights and significant innovation potential.

To fully realize the benefits of open data, organizations should aim beyond just compliance. Download to learn how to transform your organization into an information-driven powerhouse.