Over the next several years, Gartner predicts that intelligence sharing will be vital to business survival. The COVID-19 pandemic disrupted business and brought uncertainty to the future of many companies. New buying behaviors, inefficient logistics, and poor demand visibility are after-effects of the pandemic, and we must understand or fix those to survive.
The solution to succeeding in this new age is intelligence sharing among business partners. By 2024, Gartner states that most organizations will use trust-based data-sharing programs. Yet, only fifteen percent of those businesses will succeed and outperform competitors.
At The Intelligence Exchange, we create intelligence you can easily use to improve business results. Our Intelligence Exchanges are a new way for you and your partners to safely and securely contribute data that is used to create and continually share new intelligence about consumer demand, The foundation of each Exchange is a purpose-built technology platform that assembles and delivers intelligence, connects and aligns your business ecosystem, and enables you and your partners to thrive in disrupted markets by making more informed, better-coordinated decisions.
By leveraging trusted public data sources, secure data from ecosystem partners, and many analytic methods, including AI, we bring you the intelligence you need to succeed. Actionable demand intelligence brings visibility, connection, and alignment to your business and ecosystem. It can help you reduce profit-stealing friction between you and your partners when it is used to improve product allotments, inventory planning, merchandising, and more.
There is additional strategic value to all involved when you bring new intelligence to your business ecosystem. By sharing intelligence that isn't available when companies act in silos, all participating businesses gain a competitive advantage that leads to increased efficiency and improved financial results, as well as agility and resilience in the face of demand volatility.
Of course, we know that sharing data is an off-putting topic to some. We’ve heard from businesses that they don’t want to let sensitive data leave their hands due to the risk that it will somehow be seen by their competitors, much less share the intelligence they’ve created from that data. No business wishes to deal with the fallout from unexpected privacy or confidentiality breaches, nor the violation of private interests. There is also a fear of data misrepresentation or misuse, and potentially there are issues related to reliance on forecasts. In short, providing any other company, even a supply chain partner, access to private information can be seen as a risk that could have large repercussions.
So, how is it possible to share intelligence and not run those risks? The Intelligence Exchange is a trusted third party, protecting your data and keeping it private, safe and secure. Our one-of-a-kind platform uses advanced data management, data storage, and access controls. It was purpose-built to address the need to use many data sets and analytical methods to create highly accurate models, then to safely share demand insights and related intelligence across an ecosystem without pooling one company’s data with another’s, sharing any raw data, or even exposing data to a company other than the one that provided it.
The data in an intelligence exchange comes from many different sources, not just you or your partners. This data is used to create valuable intelligence that accelerates decision-making comes from public, private, internal, and partner data sets. Exchange members don’t need to contribute data if they choose not to, but they typically do so acting out of their own desire to improve operating efficiency by enhancing demand sensing or by contributing to visibility and alignment across use cases that involve multiple organizations, such as product allotment.
Intelligence sharing is an emerging paradigm that Gartner is a strong advocate for. They state that intelligence-sharing will bring the best business future outcomes. This reaffirms why intelligence exchanges are the answer to how to survive in the future. Gartner also stated that by 2023, organizations promoting sharing will outperform peers on most value metrics. By then, 85% of sharing strategies that include external data sources will drive revenue-generating digital business outcomes. By making intelligence sharing an essential business capability, your business and its ecosystem will thrive in its markets.
By securely leveraging data from partners to create and share intelligence, businesses will thrive in the upcoming years. Intelligence exchanges provide the transparency and trust needed to make necessary advancements in a world that has been disrupted by a global pandemic. With The Intelligence Exchange, you will be able to implement intelligence sharing across your ecosystem, get key insights about demand trends, and use them to improve financial results and your reputation as a collaborative partner. No other platform offers the ability to stay connected and aligned with your partners and customers the way an Intelligence Exchange does. It's time to put real-time demand intelligence to work for your business, with the help of The Intelligence Exchange.