The Empty Promise of Data Moats – Andreessen Horowitz

Just having data doesn't mean anything if you don't have a use and have structured the data in a way to provide strategic benefit.

None of this is to suggest data is pointless! But it does need more thoughtful consideration than leaping from “we have lots of data” to “therefore we have long-term defensibility”. Because data moats clearly don’t last (or automatically happen) through data collection alone, carefully thinking about the strategies that map onto the data journey can help you compete with — and more intentionally and proactively keep up with — a data advantage. It’s way better to plan for it than being blindsided when an asymptote or point of diminishing returns suddenly hits your company.

Having a data strategy is probably a good place to start.