Book Image

The New Oil: Using Innovative Business Models to turn Data Into Profit

By : Arent van 't Spijker
Book Image

The New Oil: Using Innovative Business Models to turn Data Into Profit

By: Arent van 't Spijker

Overview of this book

Data, at present, has become one of the most valuable resources, driving our economy by impacting every single industry in today’s global market. This book is all about how data plays a dominant role in making crucial business decisions. The book begins with an introduction to the variation of business trends through the course of time and the factors involved. You will study the three major drivers of change, including the connected economy, the internet of things, and the co-creation. Once you know how and why the market shifts, you will understand the data’s significance and how it became a key asset for the majority of firms to facilitate accurate business decisions. In the concluding chapters, you will learn how companies achieve data-driven strategy implementation through its four crucial characteristics. By the end of this book, you will have thoroughly explored the potential of big data and developed a possible approach to monetize it.
Table of Contents (4 chapters)

15 - Flow Control

Why controlling the flow of data is more important than controlling its value

As you may have noticed, none of the four characteristics of Data Driven Strategy—reciprocity, flow control, scalability and platform—are about the data itself. They are all about the way in which your organization is capable of providing a consistent, scalable flow of data that is easy to access and of high quality. From the customer’s point of view, flow control is probably one of the most basic and important criteria: It guarantees the continuous supply of dependable data.

If data were a raw material in an offline production process, flow control of the raw material would be a no-brainer. As soon as your supply of raw material runs out, the production line comes to a halt. With data, however, sometimes the consequences of not providing (or providing only part of the data) are not immediately noticeable. Since a majority of the data is obtained through a production...