Corporate Vision - As Online Platforms Boom, What Is The True Value Of Data?
As Online Platforms Boom, What Is The True Value Of Data?
Throughout the corporate landscape companies are increasingly creating new online platforms which will help them to better support clients, and in-so-doing will drive them to share data with them.
For example, Cloud Gateway, the award-winning hybrid cloud connectivity platform-as-a-service (PaaS), have recently announced a partnership with global interconnection and data center company, Equinix, to create a new cloud connectivity system that empowers businesses to embrace a complete multicloud strategy.
The partnership will combine Cloud Gateway’s hybrid connectivity PaaS, with Equinix’s Cloud Exchange (ECX) Fabric’s rich, extensive ecosystem of 1,800 network and 2,900 cloud and IT service providers. This will provide businesses with one streamlined and secure platform to quickly deploy hybrid digital infrastructure anywhere in the world.
Additionally, another recent development in the world of data is the news that a leading UK innovator in business intelligence solutions is targeting a global market of more than five million users with the launch of a new software service aimed at bolstering corporate security.
Power BI Sentinel has been designed to provide additional benefits to businesses using Microsoft’s analytical tool Power BI by providing secure document back-up, change tracking, documentation and data lineage analysis.
Alex Whittles, who is a Microsoft MVP (Most Valuable Professional) and founder of big data company Purple Frog Systems in Telford, has spent the last six months developing the new software.
He said: “I’ve had this idea going round and round in my head for about 10 years so I’m absolutely delighted to finally be launching Sentinel.
“We have invested a considerable amount of time and money in this project over the last six months and our specialist developers have come up with a software service which will provide organisations with greater security and governance of their data, including helping manage GDPR compliance.
“There are currently a number of limitations to using Power BI on its own, but our new software is designed to bridge some of those gaps by providing automated documentation of reports and giving data controllers the capabilities to view, in real time, how and what data is being used across all parts of the business.
“The software is designed not only to save businesses time and money but it also has huge implications when it comes to improving data security and simplifying and accelerating disaster recovery,” he added.
Meanwhile, the DMA has partnered with the University of Edinburgh to explore the true value of data. In a bid to uncover the true worth of information to business, the DMA is partnering with the University of Edinburgh to deliver a series of lectures, roundtables and thought-leadership material as part of a new campaign exploring the value of data. The Value of Data campaign aims to elevate and champion the role of data and help organisations responsibly deliver value to their customers.
Working alongside Merkle, the campaign sponsor, and the University of Edinburgh’s research Centre for Design Informatics and Bayes Centre, supported by Edinburgh Innovations, the DMA aims to create a navigable roadmap to establish bold, innovative and data-led approaches that will have a positive impact on businesses and the customer experience. As the leading trade association representing the interests of the data and marketing industry, this is one of a number of initiatives the DMA is embarking on to improve the customer experience and promote responsible marketing.
Firas Khnaisser, Chair of DMA Scotland, and head of decisioning at Standard Life added: “We want to ask difficult questions about where the ‘value’ of data really lies. In the data? Its quality, quantity, or in the way we use it to create better outcomes for customers? The true value of data will help our industry develop better services, create better customer experiences and evolve into better societies.
This campaign shows that the corporate landscape is slowly coming to understand the fact that data plays a large part in every business and every consumer’s lives, but moving forward more needs to be done to ensure that the true value of data is understood by everyone.