As a founding member of The Data Literacy Project alongside Qlik, Accenture, Cognizant, Pluralsight and the CIM, Experian is supporting the Data Literacy Project to help organisations, educators and individuals speak the language of data. Today, data literacy is as important as reading and writing, but we're facing a significant skills gap.
In my last blog we looked at the rise of IoT and some of the challenges that organisations are facing around the privacy and security of data. But what about the data itself? Whilst there might be more data out there than ever before, for it to be useful there’s some very important groundwork to be done. Let me explain.
Those of us who’ve been in technology and data for a while know a ‘hype’ when we see one. I’ve personally been through the hype cycles of CRM systems, the Cloud and big data. We’re now seeing more and more in industry and mainstream press about the Internet of Things (IoT) and Blockchain.
I won’t cover the latter in detail (as I, like most people am still trying to understand it!) but will look at how smart fridges, connected cars and pretty much every device you can think of are presenting our societies with huge opportunities but also a major data quality headache.
It is well known that we all rely on data to make decisions, all day every day. However, starting a job at Experian at the same time as being diagnosed with Type 1 Diabetes brought this to the front of my mind with the big role data plays in managing my illness. I therefore thought it would be interesting to bring the importance of data in healthcare to life, through my own recent experiences.
The pressure on the NHS is widely reported and after an exceptionally difficult winter, the knock-on effects appear to be on-going according to this article. One particular challenge that was widely reported in early January 2018 is the estimated £1bn annual cost to the NHS of ‘no shows’ at GP and hospital appointments.
8 million missed appointments each year, with an average cost to the NHS of £120 each will clearly be putting added financial pressure on services that are already stretched. Whilst the growing use of phone and online services (such as the 111 helpline) can go towards reducing pressure on frontline services, could the NHS be doing more with its data to help cut the cost of ‘no shows’ and reallocate this saving to better use?
Working at Experian I am constantly amazed by the many innovative ways we work with data, to find new and exciting solutions with our partners. If we can harness the power of data, and derive real value from it, it has the potential to make hugely positive changes to the way we all live and work. And there’s no doubt that organisations of all shapes and sizes are stepping up to meet the challenge, investing in technology and insight to move with the times.
With that in mind, I am delighted to be able to announce the finalists for Experian’s inaugural ‘Data Excellence’ award, part of this year’s Lloyds Bank National Business Awards.
Comma and Experian have joined forces to host a webinar that looks at the biggest data quality challenges our clients face, and how they can overcome them.
Technology is an enabler. It’s a connection between information and people, and it’s a vital part of Master Data Management. But it’s not where the MDM journey begins and ends.
Successful MDM should be part of a much bigger business transformation, a cultural shift toward a data-centric way of thinking across the business. This is because an MDM solution will only ever be as good as the data it processes. Without the right data, your MDM software will always fall short of expectations.
In short, data quality is the biggest obstacle to implementing MDM effectively, but it’s far from insurmountable, and can usually be traced back to the same contributing factors.
I’ve been involved in personal data for my entire professional career – it’s something that I fell into but that I now find fascinating due to the power that data can have to change lives.
I wanted to use this blog to look at something that I’ve certainly been aware of for a long time but is now becoming a much more visible area of data governance namely Data Ethics.
As you can see from my wonderful author profile above, my name is Scott Drayton. I spend far too much of my spare time sitting inside playing my Xbox. I also mostly use Outlook for my personal email needs, and own a laptop that runs Windows.
Don’t worry, you haven’t accidently clicked on a terrible dating profile. What I am going to illustrate is just how quickly the Single Customer View (SCV) that you need to effectively serve your customers, can become a tangled mess of duplicate records using a brief story about my life.
Many of us in the data industry have become familiar with the term Single Customer View (SCV) over the last decade. Those that have worked on an SCV project will have seen how they can improve our data management processes, save on marketing costs or improve your customer experiences.
However, with many SCVs being focussed on just one of those outcomes, there has sometimes been an air of disappointment with the results. Some organisations have even ended up with multiple SCVs for different purposes that don’t agree when there is an urgent need to bring together data for another reason, such as a Data Subject Access Request (DSAR).