This month in data – October 2020

Data is an incredibly powerful weapon in the global fight against COVID-19. We’ve collected the best resources and insights to help businesses take practical steps during this trying time.

Introducing Data Sharing 2.0

We talk a lot here about what companies need to do to get the most out of their data. A new report from MIT has found that companies need three things: curated content, designated channels, and repeatable controls. Oh, and if we don’t say ourselves, the report happens to mention Data Republic as a data sharing accelerator. 

THE TAKEAWAY:

“The magic of data sharing 2.0 is rooted in the cross-company sharing of complementary data assets and/or capabilities, which fills data gaps and allows companies, often collaboratively, to develop innovative or transformative solutions.”

What did we learn about data sharing from COVID?

Well, that implies we’ve finished learning. There’s still a long way to go. But at a recent summit, a number of health professionals discussed data sharing techniques as they relate to the pandemic. The first takeaway: every country had its own system. Not great. The second: the response to any new pandemic will be a lot more tech-driven that it was this time.

THE TAKEAWAY:

“The use of data and analytics in global public health, particularly the use of non-health data is not as good as it needs to be and varies across countries. The behavioral understanding of the drivers of outbreaks of epidemics and pandemics is lacking. Infectious disease threats both emerging and re-emerging start and end in our communities.” 

Stay ethical with data, hire better people

The sheer amount of regulation coming down on data use across the world is overwhelming, especially post-COVID. And no wonder: companies have more data than ever before. As a result, McKinsey delves into what companies should be doing about creating an ethical data program. There are some great recommendations here, but one stands out: you just need to hire better people.

THE TAKEAWAY:

“Training new and existing employees to adhere to the culture of data privacy and risk mitigation is also critical. Indeed, setting expectations up front around data usage is vital to protecting customer data from unethical use.”

Aussie data sharing bill gets a good privacy grade

Progress! A bill in Australia that lets government departments share citizens’ information is given a green light for privacy. A sense of progress for governmental data use? Sure – and one other jurisdictions can follow. But it’s the details that really sing for us, and making a uniform standard across government is the best way to a data governance future.

THE TAKEAWAY:

“The bill creates a new regime for controlled access to “the right people, for the right reasons,” where detailed safeguards must be in place before sharing is authorised.”

The COVID pandemic has created more data challenges

It may seem obvious, but Mastercard makes a good point here: COVID caused many companies to discover just how many problems they had when it comes to data sharing. The company points out that going forward, data governance isn’t just going to be a treat, it’ll be a necessity. Without proper governance, companies aren’t going to get the type of productivity they’re dreaming about.

THE TAKEAWAY:

“There’s additional pressure to enhance data governance structures with the rise of automation across critical business processes. Without access to data that powers techniques, such as machine learning or robotic process automation, AI models won’t be effective at increasing productivity.”

That’s our wrap for this month. Thanks for reading – we hope you found it entertaining and informative. We’d love to hear your thoughts on these articles and anything else data related!

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