Data Sharing in Industrial Ecosystems

Collaborative article by McKinsey and the Fraunhofer Institute for Software and Systems Engineering ISST about data sharing in industrial ecosystems.

Industrial ecosystems for data sharing have the potential to power tremendous growth, helping companies optimize existing processes and making new products and businesses possible. Handling and sharing data is a key component of these ecosystems. Potential ecosystem members face a number of obstacles, from concerns about protecting confidential data, to the lack of a common definition of data, to the technical challenges of sharing data securely and maintaining control. While industrial ecosystems are still in their infancy, enough success cases exist to identify both the main stumbling blocks and the factors that make these approaches successful. Companies that take proactive steps now to tap into the power of ecosystems can secure a significant competitive advantage.

Read article here.