Launch of the Outsell Data & Information Management Council
We launched our new Outsell Data & Information Management (D&IM) Council this week. Sheldon Ross, community chair and forum leader, led a discussion about the latest and greatest in data sourcing, negotiating, and licensing. He was joined by Barry Gold, Outsell’s expert on licensing, who has many years’ experience licensing data between providers and enterprises seeking new sources of unique data. Barry has been on the front line of data negotiations.
For years, we have been supporting enterprise buyers of information. That has morphed to extend into data because now data and information are being licensed, and the challenges of sourcing, acquiring, and managing are evolving rapidly.
Here are just a few of the things keeping data buyers awake at night:
- Proliferating resources
- New methods of delivery, consumption, and use
- Shifting roles, responsibilities, and skills
- A constant need to deliver ROI and value
- Vendor consolidation
- Accelerated access to technology that enables data
Help is on the way. The Outsell D&IM Council is designed to support VPs, chief data officers, and IM leaders overseeing vendor portfolios and business development professionals on the outbound or inbound route of data licensing. There is an entire array of services available through the Outsell Data & Information Management community, including the following:
- Facilitated peer group meetings led by experts who have been in the role
- Research and market intelligence about vendors and what they offer
- Annual benchmarking
- Renowned analysts and partners like Barry and Sheldon
Barry led the discussion about optimizing licensing today. His tips include the following:
- Privacy, provenance, and governance are KEY: Own corporate responsibility to all regulations and policies; understand impact and ensure adherence; ensure that sourcing processes are clear and fully documented; and do it all for source through termination
- Volume, velocity, and suppliers are constantly increasing pricing pressure; pricing models are subject to change and can be influenced
- Platforms are the future model for data buying and testing
Optimal licensing requires understanding business use cases; (pro)actively engaging with key vendors; using proofs of concept, trial and test periods, and API access; and letting vendors know whom they are competing against.
If you are in the market for the right data at the right time for the right investment in the right format, we have your back. If you’re interested in joining this council, please contact us.