Duncan McIntyre says stop being so scared of data!
Well, he didn’t exactly say that. Data safety has previously meant simply restricting access which, according to Digital Branch assistant secretary Duncan McIntyre, also restricts the value you can extract from that data. So, while improper infrastructure hinders data sharing, the first hurdle to overcome may be removing the stigma attached to it.
The takeaway:
“In order to take advantage of the power of data, we have to move to a different framework, which is about how can I share data safely.”
It’s confirmed, analytics is the answer
Yet another reason to step it up with regards to your data sharing initiatives. A research report from the MIT Sloan Management Review, developed in partnership with SAS confirms that the competitive advantages realised from using data analytics continues to increase. Want a taste of the juicy stats inside the report? “A DECREASING amount – 49% – are able to use data to guide future strategy, DOWN from 55% in 2016,” … whaaaattttt?
The takeaway:
“Organisations that make effective use of a wide range of data sources – including external ones such as customers, vendors, competitors and publicly available material – are more likely to use analytics to gain competitive advantage and increase consumer engagement.”
GDPR, simplified
Hearing a lot about GDPR but a bit confused about what it actually means? Co-op Digital has created simple posters to explain what it means in plain language so that everyone can understand the rules and implications more easily. Check them out!
The takeaway:
“Too often, data can seem like a complex and distant subject, but it’s part of everything we do and it’s important to us that the whole business can see what we’re doing. GDPR puts consumers’ rights at the centre of data protection.”
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
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