More and more products are gathering heaps of data. But that doesn’t mean companies are gaining a competitive edge.
possible to use customer-data capabilities to gain an unbeatable competitive edge. The more customers you have, the more data you can gather, and that data, when analyzed with machine-learning tools, allows you to offer a better product that attracts more customers. You can then collect even more data and eventually marginalize your competitors in the same way that businesses with sizable network effects do. Or so the thinking goes. More often than not, this assumption is wrong.
These developments make data-enabled learning much more powerful than the customer insights companies produced in the past. They do not, however, guarantee defensible barriers.To determine to what degree a competitive advantage provided by data-enabled learning is sustainable, companies should answer seven questions:The higher the value added, the greater the chance that it will create a lasting edge.
All the data Mobileye has accumulated over the years from car manufacturers remains valuable in the current versions of its products. So does the data on search-engine users that Google has collected over decades. Although searches for some terms may become rare over time while searches for new ones might start appearing more frequently, having years of historical search data is of undeniable value in serving today’s users.
It’s important to keep in mind that technological progress can undermine a position based on unique or proprietary data. A case in point is speech-recognition software. Historically, users needed to train the software to understand their individual voices and speech patterns, and the more a person used it, the more accurate it became. This market was dominated by Nuance’s Dragon solutions for many years.
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