Data Sharing

Information is key to helping companies perform to the best of their abilities and that is why data sharing is the future for most companies. Not only will this allow for information to flow freely from businesses to consumers and suppliers, but it will also help cut cost and allow for the company to maximize profits. The problem with some data sharing is that right now it is taking IT way too long to connect where the information is coming from and going to. IT really needs to speed up the process in creating bridges for information to flow, as information helps companies greatly. Some companies are starting to notice how important data sharing is, with IBM paying for a 1.4 million dollar system that will allow for data sharing. Other companies like UPS and FedEx have already realized how important data sharing is, and that is the reason why they share package tracking with their customers. This might explain why FedEx has been number one in customer satisfaction for the last 12 years in express delivery. FedEx truly cares about their customers and allows for them to have access to a lot of information, and some companies have realized this and expanded their data sharing efforts. Basically from the time something is shipped to the point where a package ends up at your door, you have access to information about that package. (FedEx) Of all the companies polled for this article, around 22% of them say that they try to keep from data sharing, but I personally think that this will change as the more information people have the more comfortable people are making purchases and decisions. This means the companies that are resisting data sharing are going to be less trusted in the future when other companies continue to give more and more information to consumers and suppliers. What I find even stranger then companies not wanting to share data, is that around half of the companies are required to share a certain amount of data with outside groups. One of the main problems with data sharing at the core levels of companies is that core has been around for a while, and the company does not want to make a drastic change in the way that they run business in fear of losing profits. Not only may a company lose profits, but it also must pay for the new data sharing system which may not produce a great return on investment. IT is relatively new, and with a lot of companies trying to run their business traditionally, IT has a difficult time integrating into certain situations. The truth is “IT really needs to have an active role in educating the different teams about capabilities and options available both internally and externally.” (Data Sharing) If IT never tries to integrate, companies will continue to run traditionally, and they may never be running at full pace, holding themselves back from making a higher profit that they are currently at. To conclude, data sharing is in the future for almost every company out there, because consumers and suppliers both like to have as much information about a product or service as possible. Not only will it help customers and suppliers, but it will help the businesses in the fact that they will be trusted more, which in turn will most likely lead to higher profits. The only problem is taking that first step in implementing IT which a lot of companies are afraid to do, but I believe in the long run it would be completely worth it.

http://www.informationweek.com/news/services/integration/showArticle.jhtml?articleID=225700544
http://news.van.fedex.com/ACSI2009