Sharing critical information with key stakeholders and third parties is usually a task that brings anxiety and security concerns with it. Nevertheless, this task is critical for building successful companies that communicate well. According to Gartner, organizations that hesitate to expand their ecosystem for fear of the risks it can create will likely be overtaken by organizations that boldly decide to seize the value of third-party relationships, confident in their ability to identify and manage the accompanying risks effectively.
So what is shared information and why is data sharing not happening? With AI we can overcome these challenges and promote the practice of business data sharing for more efficiency and smarter decision-making. There are many advantages of sharing data that will help progress any business.
Out with the Old
With CRMs and ERPs, companies have to spend mass amounts of time generating complex reports that don’t provide a narrative to data. Often, data generated through CRMs and ERPs can be confusing and tough to interpret if not built correctly. These reports are generally shared by one key gatekeeper, who produces the report and shares it themselves.
This process does not encourage knowledge sharing but relies on gatekeepers to share relevant pieces of knowledge that affect the entire organization. It is time consuming and not conducive to quick decision making among key organizational stakeholders. Companies that begin to move away from these outdated practices and move toward a digitalized future are beginning to see more success.
AI as a Communicator
With AI, sharing data is easier, quicker, and lends itself to self-service analytics. With data storytelling, AI can give context to your data while visually presenting where your business may need to adjust its practices to ensure it runs smoothly in the future, and easily share that information with any part of your team.
3 ways that AI can make data sharing more efficient and robust are:
- Create powerful visual data stories that make sense and can be presented in different formats based on the user preference.
- Easily and efficiently share with key stakeholders and team members to cut down on wait time and encourage faster response time.
- Give context and incite action with data that is instantly produced, and offers real-time insights into every corner of the organization.
The Future of Data Sharing
It is important to recognize data sharing with AI as an important step in effectively communicating with third party stakeholders. With augmented AI, your business can make data-driven decisions faster and provide a narrative to support those decisions. Effective information sharing beyond the walls of your business will add incredible value to your data and will complete the story your data is telling.
If your business wants to learn more about how they can incorporate AI into their data and move towards utilizing a data sharing platform visit https://conversight.ai/ to learn more!