As the head of user experience at Experian Data Quality, I’m often tasked with improving a website, an app or a product. This process often involves solving various challenges, such as “How can we interpret our customers’ behaviours so that we can provide them with a better experience and a more relevant service?”
So how do we do that and what’s it got to do with data?
25th May 2018. This is the date that many Data Protection, Governance, Compliance and Marketing people have got pinned up above their desks – in fact many different job roles in organisations of all shapes and sizes are involved in preparing for “GDPR Day”.
We believe that the GDPR presents a great opportunity for organisations, but with less than a year to go before the EU GDPR regulation enters UK law via the Data Protection Bill announced in August 2017, there is still lots to do.
I love online shopping. I wish I had a pound for every hour I’ve ever spent browsing shopping apps or online stores, looking for deals or unique items; I’d spend those pounds on more shopping. We are now less than a month away from Black Friday, the busiest shopping event of the year where millions of Brits will be jumping online to snap up limited-time-only offers.
Having accurate data. Or more specifically, making sure the data you already have is accurate and up to date and that the new data you’re collecting – address, email and mobile – is captured accurately.
Businesses today continue to see data gaining in importance. As more and more organisations work to harness the power that their information can afford them, their underlying data is affecting every aspect of their operations. Departments like customer service, digital commerce, finance, compliance, operations, and more are all working to figure out how they can use data to better serve their customers, reduce risk, and become more efficient in their operations.
As May 2018 approaches the EU General Data Protection Regulation (EU GDPR) is moving quickly up the agenda of most businesses. It’s also establishing an increasing presence in the mainstream media as consumers become more tuned in to what it means for them.
Wherever you are in your GDPR journey, an absolute must is having a good appreciation of the basic elements of the regulation so that you can plan accordingly. As a useful summary I’ve listed six important elements below, extracted from our whitepaper ‘Defining the data powered future’. I’ve also included some important areas of consideration for each which may help to focus your planning. Of course, it’s by no means exhaustive and we’d always recommend referring to the ICO for more detail.
Innovation isn’t anything new to Experian, in fact we’ve been listed in Forbes Magazine’s Top 100 “World’s Most Innovative Companies” for the past four years. I must admit however to being slightly sceptical when the idea of introducing a ‘robot’ into our team came up. Here’s some insight into what we learnt.
Banks and Financial Institutions are by now well versed with submissions to regulators both national regulators and to European Central Bank. However the launch of Anacredit regulations, brings a new dawn to the granular level of submissions to the regulators. In a nutshell, Anacredit is applicable for all institutions which has more than EUR25,000 credit risk exposure to a counterparty. No other regulation by ECB has mandated such a granular level of data requirement by financial institutions.
Performance may mean different things to different organisations but essentially it’s a measure of success that needs to be monitored, maintained and improved. In my role as Sales Operations Manager I spend a lot of time thinking about how we can improve our own performance. In my case that’s about how well our solutions help our customers to meet their requirements and in turn deliver for their own customers. When it comes to driving better performance, I would go as far to say that I am obsessed with it. I read blogs, books, am top mates with TED and even have my own website dedicated to it.
Many of us are aware of the benefits that high-quality data can bring to an organisation including improvements in operational efficiencies, better decision making and avoidance of risk. It’s getting started that can often be the biggest road block. By that I mean, if you can’t quantify the tangible returns that investment in data quality can bring, how do you get buy-in for investment in it?
At Experian our main goal is to help our customers exceed their data ambitions. That makes understanding how you feel about us, our products, and how we work together one of the most important activities on our agenda.
This year I’m excited to announce that our Customer Relationship Survey is just around the corner, launching in a week’s time on the 21st September. With that in mind what better way to launch it than with a look back at some key improvements we’ve made in the last year – here’s my top five.
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