Powered 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:
- Drive business with savings.
- Drive business with features and services.
- 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.