3 ways you can compete in the collaborative economy

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Analytics Experience 2016 logoPowered in equal parts by data, mobility and innovation, the collaborative economy has changed the way we think about automobiles, travel accommodations, office space, living space – and so much more.

When anyone can open an app to borrow money from a crowd, order a gourmet dinner from a neighbor, or rent an oceanfront bungalow from a stranger, where does this leave more established businesses?

Can companies built on traditional business-to-consumer models survive in the peer-to-peer economy? More pointedly, will all businesses suffer the fate of the yellow cab companies? Or is there a way for larger enterprises to embrace – and benefit from – the collaborative economy?

Enter Jeremiah Owyang, an industry analyst and a keynote speaker for the upcoming Analytics Experience. With more than three years worth of in-depth research into the collaborative economy, Owyang is the expert that businesses rely on to understand this new space.

"Savvy companies are thinking beyond their factories," says Owyang. "Think about the entire value chain of your customer and selling them something bigger, and having that deeper, longer relationship."

Think about the entire value chain of your customer and selling them something bigger, says @jowyang. Click To Tweet

According to Owyang's research, there are three strategies that traditional corporations can use to compete in this new economy. They are:

  1. Drive business with savings.
  2. Drive business with features and services.
  3. Drive business with trust.

These may not seem like revolutionary concepts, but large corporations like Ford, Home Depot and Walmart are using them to develop collaborative business ideas. Check out the infographic below to learn more:

Hear Owyang speak at Analytics Experience

How can you learn more from Owyang about the collaborative economy, and the role that data and analytics will play in these new business models? Register today to attend Analytics Experience Sept. 12-14 in Las Vegas, where Owyang will be a keynote speaker. Need more incentive? Watch the clips of him speaking below.

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About Author

Alison Bolen

Editor of Blogs and Social Content

+Alison Bolen is an editor at SAS, where she writes and edits content about analytics and emerging topics. Since starting at SAS in 1999, Alison has edited print publications, Web sites, e-newsletters, customer success stories and blogs. She has a bachelor’s degree in magazine journalism from Ohio University and a master’s degree in technical writing from North Carolina State University.

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