What is a Digital Federation?
A group of industry participants that leverage a unified set of tools to support common needs but maintain their independence.
Join forces whilst maintaining ownership.
Across industries companies that led local markets find themselves increasingly competing against giant global platforms.
As information, artificial intelligence, and the ability to predict and satisfy consumer behaviour become a critical competitive advantage, the scale of information a single company owns on its own is no longer sufficient.
Federations present a unique way for companies to maintain control and ownership over their own information, whilst leveraging the rest of the market to compete effectively.
A value exchange, gaining as much as you give.
Central to a federation is that each participant can contribute value in a way that does not negatively impact their own business.
Participants across different regions, industries or customer types can happily exchange valuable insights to boost each others business without a negative impact.
This can help reverse the accelerating trend of information, and the ability to process and leverage it, concentrating in the hands of a few platforms.
Accessing what you need, when you need it.
A core benefit of being part of a federation is that companies can gain instant access to the real time information from the whole market, as and when they need it.
This significantly reduces the need for siloed capital investment on technology that is not being constantly used, and enables these companies to operate free of the massive overhead normally associated with Big Data and Artificial intelligence.
With built in compliance & consumer control.
Companies today must put consumer trust and confidence at the top of their priorities if they want to win and maintain customers in a global economy become more and more aware of information practices.
The simplest way to ensure your company is on the right side of this equation is to put privacy, compliance and transparency at the heart of your technology strategy.
Federations enable information sharing in a way they puts the consumer in control of their information, empowering them to make updates and controls in one place, and know it will be honored by multiple companies.