Here's an example. About a decade ago, student mental health services came together to agree a standard for recording data. Thanks to this action, they now have data on over 100,000 students from 140 institutions. Analysis of the data shows, for example, that drug and alcohol problems are on the way down, but self-harming is on the way up. These findings can in turn influence how information and counseling services are designed and delivered.
Switch now to the business world. If you only know about the customers, partners, and staff in your own corner of the organization, how much do you really know about people? And if you can only look at your own transactions, achievements, and processes, how do you know how well you're doing? When you have islands of information, your metrics don't travel.
Switch up the focus and the same logic applies at the industry level. You can't achieve best practice unless you can meaningfully compare existing outcomes with other organizations. Also, you can't even know what collaborative opportunities you're missing unless you have systems of record which are data-compatible. Choosing not to exploit data standards is to opt for limited knowledge, reduced agility, and missed opportunities. Onward State