Using Multidirectional Data to Track Value Realization
For decades, enterprise software has been built with a focus on the side effects of value—user activity, service utilization, product analytics, and the like. But this technology doesn’t offer a way to track the literal creation of value—ironically, the only thing that businesses truly care about.
Why? Because tracking, measuring, and proving value is hard. Data has to be gathered from a number of different sources owned by multiple organizations and then distilled into performance metrics.
That’s why MetaCX is thrilled to launch multidirectional data to more accurately track the progression of value and help organizations prove they are making an impact.
To ensure value alignment, MetaCX provides a co-owned, digital space called a bridge where B2B companies can come together with those in their industry ecosystem to define and collaborate on desired business outcomes.
Then to track and prove value delivery, MetaCX provides a real-time data integration layer that allows businesses to instrument any application, system, or digital endpoint and to surface these insights as indicators of health and progress of the relationship and proof of performance against target outcomes. The latest progression of MetaCX’s data integration layer includes multidirectional data—the ability to instrument data sources from two, three, or four partnering companies.
One application of this is in vendor/customer relationships. If a B2B vendor creates a bridge with a customer, the company can track outcome performance by gathering data directly from the customer in addition to any number of internal systems, ensuring a more accurate representation of value creation over time.
Playing the Neutral Third Party
In order to best prove value delivery, data is needed from both sides of a B2B partnership. The problem is that many businesses are reluctant to share data without strong incentive. And even with strong incentive, hesitancy to share data remains due to strong privacy regulations governing B2B transactions—especially within heavily regulated industries such as healthcare.
With this multidirectional update, data can be shared from two or more entities directly to MetaCX, a neutral third party. This mitigates sensitivity to data access and control and ensures that no single participant has any real or perceived asymmetric advantage by virtue of data governance and control.
Furthermore, MetaCX addresses regulation concerns by only using anonymous, aggregated data on a platform with strong cybersecurity and privacy controls.
We have arrived at a pivotal moment where businesses across all industries have the opportunity to transform. Companies that prioritize the creation of value and track value delivery through data will create healthier, longer lasting B2B relationships.