This week in data – April 26

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The three rules you need to know about customer data

We’ve all seen Facebook’s woes. Not to mention…hundreds of other companies that have suffered data breaches and data-related controversies. Inc has too, and published an article outlining the three key things you need to know about handling customer information. It’s pretty simple, too: be clear about what you want, only ask for data that gives value, and keep all your data promises.

Simple, right? Maybe easier said than done.

THE TAKEAWAY:

“After collecting any data, provide the promised benefit and tell the customer how the data made the service possible. Communicate regularly via email or other brand-owned channels to remind customers they can adjust their data-sharing preferences whenever they want.”

 

Your medical and health data might be leaking

Eek. A bunch of medical apps might be leaking data, according to a credible new report from researchers in Australia. The report shows developers are often over-sharing data, and some are even using “unsecure storage” to house the information. This is a big deal: medical data is considered more valuable on the black market than other pieces of information.

THE TAKEAWAY:

“App users could also risk employment, insurance or education-related discrimination if a detailed account of their health history was made available, the authors warned.”

 

The best way to use external data sources

Sometimes, companies are reluctant to combine their own information stores with third parties. But as the Harvard Business Review points out, this strategy means you can often bypass winning moves. After all, it says – the most innovative companies are the ones that use external data. Of course, how to get value from it is the challenge – which is exactly what this piece explores.

THE TAKEAWAY:

“Research suggests that most companies haven’t yet developed the capabilities necessary to use external data effectively. To close this gap, companies may find it helpful to think of themselves as participants in a data ecosystem, which some have defined as a network of actors that directly or indirectly consume, produce, or provide data and other related resources.”

 

How can retail CIOs succeed with AI?

The retail industry is perhaps the one most affected by changes in automation and artificial intelligence. The closing of thousands of retail stores in the United States, the United Kingdom, and Australia are evidence of that shift. Yet the Enterprise Project points out opportunity: if CIOs in the retail industry want to succeed with AI, they need to collaborate with data sharing efforts. It might be the only way they can survive…

THE TAKEAWAY:

“A recent study by IBM described “intelligent automation,” which is how AI is being used to automate processes along the supply chain. With AI, retailers can start to automate supply chain processes, like rerouting trucks due to developing bad weather conditions, based on the consumption of massive amounts of data.”

 

Singapore steams ahead despite data leaks

Singapore has had a bad run in the recent past with some major leaks, especially at the country’s central medical authority. But they’re not slowing down. The minister tasked with changing the nation into a “smart” city, says none of the setbacks will affect long term plans. Yet another reminder that despite a lot of the controversy surrounding data, in the end the right moves that bring benefit to everyone will win out.

THE TAKEAWAY:

“The next wave of development in Singapore’s tech efforts will be artificial intelligence or AI – which the minister says has seen a “revolution” in the past two to three years. Machines have evolved from just learning rules to adopting pattern recognition, he said.”

 

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