Monetizing Data Across the Caribbean

There is an opportunity across the Caribbean to take data that is trapped in institutions and digitize these valuable assets in order to drive efficiencies within these organizations as well as expose new and exciting business models.

For too long, data has been trapped on paper and in spreadsheets. There is no question, that whether you work in land management, health care, telecommunications or a number of other essential data services, there is an opportunity to reinvent the way data is managed by creating efficient data platforms that can be accessed by the entire organization. This transformation has been happening globally for years and slowly we are reaping the benefits across the Caribbean.

However, there is more. There is an exciting opportunity that we need to embrace beyond the obvious efficiencies of digital transformation.

Once data is unlocked, it becomes an asset that can be monetized beyond the organization. Exposing data from one institution may manifest itself in a completely new and unforeseen way by another institution.

Let us consider land management. Across the Caribbean land parcels are managed in various ways by Kadester bureaus.

If these assets are exposed via a platform or an API, suddenly there are a wide variety of stakeholders that can leverage this data to further their goals. It may be obvious that notary publics may need access to information on land parcels, but consider law enforcement or tax authorities.

Police looking for bad actors can review information on land purchases over a certain value. Tax authorities seeking to audit payments across an island can instantly identify any delinquencies.

The return on investment in exposing data is tremendous. This value is not isolated to one data source. Overlaying one data source on top of another amplifies the value of the data.

For example, if land management data is combined with engineering permit data and offered to the real estate community, you have two data providers benefiting from a combined application.

There are innumerable permutations of these use cases. However, there are no opportunities to benefit from this data it remains locked. There is an opportunity to work with all sectors of the economy to liberate the data across the Caribbean. 

Let the data revolution begin!

DataAxis’ goal across the region is to improve and optimize existing data efficiencies. We do this via data-as-a-service architecture as well as drone deployment.