May 16, 2018 - Chandos Quill [pictured], VP, Global Data and Strategic Alliances at ACXIOM, writes: At I-COM, Chandos Quill of ACXIOM spoke on a panel about business models for data partnerships with representatives from Winterberry Group, IPG Media Brands, IBM, and Ebiquity. Here, she considers the ideas behind the term and how we might nuance our understanding.
The word partnership tends to be overused to encompass client or vendor relationships as well as actual partnerships. And, on the panel, you had a wide variety of companies from consulting and services to data and technology. The business models and partnerships for each of these industries can be quite different.
For example, as a data company, the primary business model used for years has been to ‘partner’ or work with companies to acquire data to build products and services using a royalty model. There’s also the list management/list rental model, where data companies represent certain data sets to the market and handle all the order and fulfillment of data. Over the past few years, the business model for data partnerships has begun to change from data acquisition to enabling data everywhere. This change is being driven by three major trends.
Big Data – with the rise of the internet and the advancement of technology and analytics, the amount of data being collected by all kinds of companies has grown tremendously. Companies of all types are creating interesting and unique data, either intentionally or unintentionally. This means that it’s not just data companies that will be partners; partnership models need to be created to support data monetization for companies that aren’t in the data business but are collecting unique data that can be valuable to others, especially when mingled with other unique data sets. More...