This Week in Data – 18 October

This week in data – 18 October: Each week, we compile the best stories in data. Get up to speed on this week in data without having to search for it.

 

Is data responsible for our safety?

Maybe. Kind of. At least, that’s what The Open Data Institute and Lloyd’s Register Foundation say. According to a new report, they believe data sharing could make infrastructure safer – there’s nothing super specific here, but it’s a good reminder that experts believe open data can actually help save lives.

THE TAKEAWAY:

The manifesto calls for government and private sectors to share and open datasets to increase access to data that will drive safety innovation and support research.”

 

Brexit closer to killing data sharing deals

Hey, remember how we talked about those European data flows that Brexit might threaten? Well, The Washington Post has a good primer on what the effects of killing them might be. In short: not good. In fact, they imagine a worst-case scenario that…might actually happen if a deal isn’t met.

THE TAKEAWAY:

“Let’s imagine if it all goes wrong. Post-Brexit, during a national-security investigation, U.K. intelligence services demand access to an EU citizen’s personal data, such as encrypted chat messages or payments. The provider hands over the data.”

“The citizen complains to a European regulator, which concludes that this transfer was a human-rights violation. The provider could then be fined by the EU. This could prompt companies that have been cooperating with the U.K. to stop transferring data without clear approval from the EU.”

 

The secret to future marketing: identity resolution

Say what? It’s a buzzword, but worthy of attention: the more touchpoints you have, the harder it is to create a full picture of one customer from different sources. Identity resolution is about creating that picture, and AdNews offers some advice: you need to pay attention here if you want to succeed in modern business.

How? The big one: you need to be much more willing to trade data with other brands.

THE TAKEAWAY:

“There is a significant shift in brands becoming open to share data with each other in an de-identified, privacy-safe environment, for mutual gains. Enabling this at the people level unlocks a huge potential in terms of tapping the share of the wallet, co-marketing opportunities and customer acquisition.”

 

Open banking needs strong consumer protection

Makes sense, right? The new open banking regime in Australia is inching closer, but as Fintech Business points out, none of it will make a difference if consumers don’t trust it. Oh, and here’s a problem: the country’s Information Commissioner found the number of data breaches rose in 2018 – and 28% of companies that suffered a breach didn’t know how credentials were stolen.

Aussies have some work to do.

THE TAKEAWAY:

“But just because consumers aren’t yet directly punishing companies that fail when it comes to security, it’s not going to stop rivals from using breaches as an opportunity to win them over. Those that have their identity and access mechanisms under control will be well placed to take commercial advantage when their competitors stumble.”

 

Aussie airline concerned over data crackdown

Virgin Australia says tighter reins on personalization may hurt its loyalty program. The country’s competition regulator is cracking down on the use of information gathered by these programs, but Virgin says it’s being held to a higher standard than the actual law – particularly when it comes to sharing with third parties.

It’s kind of inside baseball, it’s a good reminder there is a growing global trend of authorities hampering – or at least regulating – the thin line between the need for personalisation and privacy.

THE TAKEAWAY:

“It is no longer an option for a loyalty program, or arguably any consumer-facing business, to refrain from collecting and using data to create a personalised and frictionless experience for its customers.”

 

That’s our wrap for this week. Thanks for reading – we hope you found it entertaining and informational. We’d love to hear your thoughts on these articles and anything else data related! Email us anytime at enquiries@datarepublic.com!

Until next week,

Team Data Republic