WILLEMSTAD - Recently, the Curaçao Business Association (VBC), Maduro & Curiel's Bank (MCB), and Deloitte have entered into a partnership to develop the power of data-driven work and data sharing. The type of data involved is not specified.
This collaboration has led to the creation of a Business Intelligence Unit, where VBC members periodically share data with Deloitte. This data is then converted into performance dashboards to support VBC in decision-making that will lead to achieving its strategic goals.
Deloitte advises VBC on the best way to use and share their data, while ensuring data governance. This project was made possible by MCB, which recognizes the benefits of data analysis and the importance of data-driven work.
Technological advancements enable companies to identify patterns and trends by combining different data sources. This leads to decisions based on facts, rather than intuition. With the right privacy and security measures in place, business strategies shift from not sharing data to the necessity of sharing data.
VBC and Deloitte are taking the first steps in this partnership and demonstrating how data sharing can be successfully applied. Privacy and security challenges are turned into solutions by jointly utilizing modern technologies and best practices.
The initiators hope to encourage more companies to share data. Research from management consulting firm Gartner shows that companies that apply data sharing create fifty percent more business opportunities to generate revenue and grow.