Alliances in the business world used to mean shared shipping routes. In the digital age, data and data sharing are central to digital partnerships. A new era of openness, in which sharing data and information is the norm, is helping business partners to make sense of the vast volumes of information extracted by a new wave of analytics software.
Digital partnerships are likely to be more fluid than strategic alliances of the past. Yet the ease of exiting is one of the attractions of joining digital partnerships. Players establishing cross-industry partnerships to tap the capabilities they lack are forming hybrid industries.
But this dip in, dip out mentality accentuates the need for executives to become more agile in their original industry, and to become quick and relevant in industries they had previously not considered.