B2B data sharing is making data available to, or accessing data from, other companies for business purposes. It can serve any company purpose, such as operational efficiency or sustainable development. The value of data grows when it is shared and intermingled, but businesses often hoard their data as though it were a finite resource. Some governments are mulling ways to encourage more business-to-business (B2B) data sharing, most notably the EU, which has two regulatory measures in the works.

Data sharing can take many forms and models underpinning B2B data access or transfer. According to this understanding, virtually all sorts of data flows between companies, customers, and even within companies might be understood as data sharing. However, the focus must be narrowed down to the variety of means of data exchange and the range of potential actors involved in the data-sharing economy context.

The platforms themselves are business models that follow various value propositions. From a data-sharing economy point of view, those platforms are of particular interest. They benefit from the amount of data-sharing transactions but do not generate or buy the data themselves. Instead, they function as a mere sharing facilitator.

The new oil, the new gold, the new capital – analogies for the value of data abound, but none can truly capture its economic attributes because they are unique. “Data is non-rival,” a 2020 Cambridge University’s Bennett Institute for Public Policy report notes. “Many people can use the same data simultaneously without it being used up.” While ‘negative externalities’ such as privacy infringement can occur when data is collected or used, the report notes, “positive externalities happen when one dataset is enhanced through being combined with others”.

Despite this – and the ample availability of data-sharing technologies – few businesses seek to increase the value of their data by pooling it with other organizations. Only 39% of European companies surveyed by Spanish consultancy Everis in a study for the European Commission share data with other businesses. The chief barriers for those who do not are privacy concerns and a fear that trade secrets will be lost. Policymakers are examining ways to unlock the latent value in data that could be shared.

In conclusion, B2B data sharing is a critical practice that can help businesses improve their operational efficiency and achieve long-term growth. However, there are still many barriers to overcome before more companies start sharing their valuable data with others. Policymakers worldwide are working on ways to encourage more B2B data sharing and unlock its full potential.