When it comes to data sharing and analytics, the Digital Service Act (DSA) en Digital Markets Act (DMA) raise the bar for all online platforms. The biggest change: the obligation of data sharing for the largest platforms. Those considered Gatekeepers. Business partners and end users must have continuous access to their data and that is a game-changer for everyone. The ‘new normal’ will also bring FRAND (fair, reasonable, and non-discriminatory) conditions in ranking, query, and click and view data. And gatekeeper platforms need to be transparent about the algorithms they use.
From threat to opportunity
These new developments require a lot of effort for the big online platforms. For businesses operating on those platforms they also bring plenty of opportunities. First of all, it’s a chance to build better partnerships on more equal terms. At the same time this legislation offers a great opportunity for the implementation of new services or apps by both partners and gatekeeper platforms. Think about analytics tools combining all data from multiple sources, not just the data collected by one gatekeeper. Banks did a great job changing a threat into an opportunity by buying fintech start-ups. That made it possible to offer services to their customers with the data they were obliged to give them anyway after the PSD2 directive. Gatekeeper platforms may choose the same flight forward.
All your data all the time
For both business partners and end-users, the biggest opportunities will be found in the real time and continuous API access to their data on the gatekeeper’s platform. They will be able to look into their performance at any given time and combine gatekeeper data with data from other sources. This opens up all kinds of business opportunities, especially in terms of data management and multihoming. They can either choose third party apps for this, or start working together with the gatekeeper platform in a more equal relationship. Last but not least, business partners can use the data to work on more direct relations with their end-customers creating more loyalty.
So, what will be the next steps? First of all: start by making sure your data management is in control as quickly as possible. Real-time data sharing and transparent analytics are on their way, so make sure you are well-prepared. Only if you have a good grip on your business data you will be ready to respond to new threats and opportunities. Gatekeepers and major platforms will need to produce audited, clear descriptions of their algorithms. Smaller competitors need to be extremely careful that the privilege of being less transparent with their business customers doesn't start working against them as their biggest competitors open up. Also important: start working on a strategy. Whether you are a gatekeeper platform or a business partner: the only way forward is to embrace the new reality that the Digital Service Act and Digital Markets Act herald. You can wait and see what opportunities arise, or you can be the first to implement new services, apps, or other business ideas. One thing is certain, sitting back to see how this future unfolds is the worst thing you can do.