A data powered future

White Paper
A data powered future

White paper
Page 2 | A data powered future
Foreword: Defining the data revolution
We operate in a digitalised world. Our
commercial and working environments have
become more fluid and flexible, and utterly
intertwined with personalised, data-driven
technology.
The acceleration of technology means that
we now live in a world built on data - it is
everywhere, forever growing in value and
significance. It has the potential to make hugely
positive changes to the way we all live and work.
In this high-speed, interactive landscape, data analytics is
already making significant and beneficial changes to our
world. If we can make the most out of its huge capacity
for good, data can drastically improve outcomes and drive
stronger relationships between businesses and their
customers along the way.
Data is changing nearly every aspect of our lives, whether
we’re aware of it or not. The way we purchase goods, run
our businesses, treat medical patients, and manage our
finances are all increasingly shaped by data. It’s the key
to solving some of society’s biggest problems; famine,
disease, poverty and ineffective education.
In business, we need to make sure we are ahead of the
curve as this data revolution takes shape. With connected
technology putting our customers firmly in the driving
seat, there are clear challenges which will need to be
overcome.
In order to deliver on these burgeoning expectations,
there is a lot of pressure on businesses to achieve and
work with a more complete understanding of their
customers’ lives.
However, within this environment lies an interesting
paradox: people expect a round-the-clock, ‘always-on’
approach from brands, yet won’t accept anything that
appears to be too intrusive or with the wrong message.
As organisations of all shapes and sizes increasingly find
themselves in possession of more customer information
than ever before, there also comes greater responsibility.
Evolving data protection regulation means that
businesses will need to look for guidance and support
to meet new regulatory requirements. Moreover, cyber-
security is an ever present concern for organisations of
all sizes. The future is packed with opportunity and we
have to make sure we are willing and ready to move with
the times.
Whether it’s via laptops, mobile phones or any other
connected device, our customers will increasingly
live their lives online. The world is becoming more
connected every day. If we are serious about keeping up
with consumer-driven change we need a truly holistic
approach, one which protects our customers and
our products from cyber threats, whilst ensuring the
customer journey is as seamless and fluid as it needs to
be. This type of joined-up thinking will need to become the
norm, as the datafication of our world continues.
We are all living through a period of exciting, widespread
technological change. We need to be prepared to take on
the challenges and embrace the many opportunities that
the data revolution brings.
Charles Butterworth
Managing Director,
UKI and EMEA
Experian
People no longer expect but demand a
personalised customer journey when they
are dealing with brands.

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Contents: Emerging data trends
Some key areas look set to shape how we all interact
and engage with data over the years ahead. As one of the
world’s leading data companies, Experian has created this
whitepaper with the aim of providing a comprehensive
overview of ten of these trends:
01 The evolution of Big Data – the 6 V’s
02 The trust factor
03 Data freedom
04 New data
05 More analytics
06 New identities and linkage
07 Technology - making sense of the data explosion
08 Faster distribution
09 Regulation and governance in a data rich world
10 Data driving new skills requirements

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The evolution of Big Data – the ‘6 Vs’
Let’s address the elephant in the server room – ‘Big Data’.
While many may focus their attention on the idea of Big
Data, it’s not new and the term can be misleading. Large
data sets have been in existence for many years, built
and used by major companies for decades. In fact, many
commentators have argued that ‘Big Data’ really just
means more data.
At Experian we process more than 1,151 billion records
annually, with a global segmentation of more than
2.3 billion consumers in more than 30 countries, and
demographic data on 700 million individuals and 270
million households combined – that’s pretty big data.
There is no fully agreed definition of Big Data. Simon
Rogers at The Guardian took a tongue in cheek view: “Big
Data is one byte more than you are comfortable dealing
with.” But actually, this is rather close to the truth as Big
Data is data that is so big it won’t fit on a single machine.
It has to be spread over many machines.
And it can come from anywhere, so it might be in strange
and exotic formats. And it’s added to and updated all the
time.
The Four V’s – a term which IBM coined in 2012 to
describe the phenomenon of Big Data, expanding an
earlier version of Gartner’s Three V’s – are still a very
useful starting point for thinking about data.
At Experian we process more than 1,151
billion records annually – that’s pretty big
data!

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While these four V’s represent significant data-related
challenges, we’ve reached a point where they no longer
encapsulate all of the major issues. We would argue that
there are two further V’s to add to the list, to help provide
a more complete picture. ‘Vulnerability’ and ‘Value’ should
be considered by organisations when assessing their data
landscapes.
Data comes in numerous shapes and forms, from
geospatial data to website logs, from tweets to
visual data like photos and videos. Though often
overlooked compared with the well-publicised
issue of ‘volume’, the variety of data out there is
likely to be a bigger problem for most businesses.
The ability to harness the different forms,
together, can be the key stepping stone to the
unified insight that many businesses are crying
out for. A ‘holistic view’ is what companies should
strive for, and dealing with data variety is the key.
While data volumes grow, the speed of data
creation and use is increasing too. This means
processing, storage, and analysis must
accelerate in tandem – business advantage
lies in having and acting on the most up-todate
information, which means receiving data and
insight as soon as possible, then acting with
equal speed. This high velocity also means that
data is becoming more and more perishable, as
it’s updated or made obsolete faster than ever
before. Real-time analysis helps to deal with
velocity, allowing businesses to make decisions
based on the most up-to-date information.
Veracity is about ensuring the reliability and
validity of the insights derived from data.
Inaccurate data is virtually worthless, even
damaging in some cases. The flipside is that
chasing veracity can lead to over-cautiousness,
as organisations and individuals wait for
perfect, clean data before making any decisions
– something which is very often impractical.
Veracity often depends on individual users,
meaning engagement with data and a commitment
to cleaning it up – and keeping it clean – are critical
on a person by person basis.
The vast amount of data generated every second,
by organisations and consumers, is hard to fathom.
Many data sets are too large to store or analyse
using traditional database technologies, and are
also continuously being added to or updated. This
volume is set to increase exponentially as the
Internet of Things matures, though this eruption
could also bring a greater volume and depth of
insights into customer behaviour, if harnessed
effectively. Either way, the challenge of increasing
volume is clear.
Volume
Variety
Velocity
Veracity

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Vulnerability
The proliferation of data has left many people feeling
exposed and vulnerable to the way their data is being
used.
Conversely, a growing number of ever more tech-savvy
consumers are willing to sacrifice some privacy as a
tradeoff to the benefits of digital, personalised technology,
but under their own preferences and conditions.
Increasingly, people want to be informed about data use
and have the ability to easily opt-in or out at any point in
time.
The challenge for organisations is to find a way of
addressing their customers’ concerns and exceeding
their expectations. In order to alleviate confusion and
apprehension, a growing number of companies are
moving towards privacy by design and becoming far more
transparent around data usage and value.
In this context the provenance of the data, right back to
its origin, will be key. Organisations know that data is
exploding all around them; mobile data generation, real-
time connectivity and digital business have changed the
scene entirely and made things more difficult in many
respects. Analytics have an increasingly important role
to play in data security and are already transforming
intrusion detection, differential privacy, digital
watermarking and malware countermeasures.
However, security is also about building brand reputation
and trust. Strong security practices, including the use of
advanced analytics capabilities to manage privacy and
security challenges, can set businesses apart from the
competition and create comfort and confidence with the
public.
As people think about the issues and
learn more they don’t always become
more reassured – in fact, it makes
some more worried because they were
not aware of how much data is being
collected and used.

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Value
At the most simplistic level, data has no intrinsic value.
It only becomes useful when you’re able to extract the
insight needed to solve a particular problem or meet a
specific need. Once you can do this, the data acquires
value through the business impact and consumer value
this insight delivers.
Consumers are looking for value in terms of convenience,
better products and better service. Organisations are
seeking value via more engaged customers, lower
costs and reduced business risk. For both parties to be
successful there has to be a fair exchange – each needs
to feel satisfied.
This means that data – and data analytics – is only
valuable if it generates some form of payback. Thankfully,
advances in analytics are helping businesses to achieve
this more consistently, combatting the challenges of
data volume, variety, and velocity, and delivering the all-
important value. This is being done by:
• Tying insights more closely to business decisions
• Drawing on, integrating, and analysing new data
sources
• Moving beyond simpler business intelligence
and analysis, towards diagnostic, predictive, and
prescriptive analytics
• Developing data strategies that relate closely to clearly
defined business goals, outcomes and use cases, rather
than simply deciding a ‘Big Data Strategy’ is required,
and proceeding in a business vacuum
Value exists in a two-way model between both parties.
The organisation provides added value in the form of
superior, more relevant content, products, and user
experiences, and the recipient engages with that content,
consuming it, buying products and signing up for offers
and promotions.
To garner the full value that data can offer, organisations,
governments and regulators will need to invest time
and money in educating both the general public and
businesses about how to manage the vulnerabilities and
value opportunities that data presents.

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What companies should focus on
Invest time to clearly understand the value buried in data and develop a clear data strategy.
Monitor regulatory change carefully, particularly with regards to security requirements.
Consider how the use of data could be more transparent to customers.
Proceed cautiously and ensure that you develop an appropriate business model.

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The trust factor
The opportunities presented by data are universal, but
alongside the extensive upsides, concerns about privacy
have to be addressed. The impact of data sharing on
the notion of privacy is still in flux. What is clear is
that organisations must build trust with consumers,
by demonstrating their integrity through better data
stewardship, transparency and veracity.
There is a need for more conversation and more
openness about how data is collected and used for the
benefit of the end users. We are all very aware of the
great advantages that new data-driven technology can
bring, from fighting disease and tackling environmental
challenges, to powering fitness apps and satellite
navigation systems, and yet the way data is harnessed
to make these things work isn’t something that has been
part of the ‘data narrative’, to date.
A general lack of understanding has caused
understandable scepticism about the increasingly
substantial role that data is playing in our daily lives. Only
14% of people say they have a good understanding of how
Only 14% of people say they have a good
understanding of how data is used by
businesses
personal information and data is used by businesses.
Genuine concerns persist around whether some people
will be discriminated against unfairly as a result of our
shift towards a data-driven culture.
Privacy is also a major concern for many people and
these issues need to be debated openly and frankly, so
that we can all agree how we can utilise the power of data
in a way which is fair, transparent and for the benefit of
everyone.

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New attitudes, same standards
However, in the digitalised world there is evidence that
value and convenience are in fact superseding trust
concerns. But that doesn’t mean that organisations can
get away with anything less than the highest standards
when it comes to using personal data. Quite the opposite,
in fact. The problems arise when something goes wrong –
reputation is damaged and trust is lost.
It is worth considering how attitudes are changing
by generation. 50% of the working population will be
Millennials or younger by 2020, a demographic group
which has demonstrated a much more relaxed attitude
toward sharing personal information with brands in a fair
value exchange than older age groups.
However, there is plenty of evidence that convenience is
in fact the primary driver for all generations already. In a
recent survey looking at attitudes toward secure real-
time exchange of bank statements, which consumers
consent to provide in support of a credit application, 85%
of respondents said that they believe banks should offer
the service. Furthermore, 75% said they are happy for
automatic updates of their data to be used to help avoid
any repayment issues.
One thing is certain: today’s consumers are far more
aware of the value of their data. They recognise that they
own their data and accept the responsibilities that come
with this ownership. That said, this increased awareness
has not meant that more consumers are shying away
from sharing their data, nor has it therefore hampered
the growth of the data market.
In fact, people seem to be increasingly comfortable with
sharing their data, on their own terms. A recent Experian
survey found that 69% were happy for brands to use their
personal information to send them discounts on products
and services that they really want.
Trust from transparency
Transparency is essential. Customers are far more willing
to share data with brands they trust and are already loyal
to. This means respecting and protecting privacy. Omni-
channel marketing and sales are now a reality, and they
truly put the consumer at the heart of business. This
means bigger data volumes, which, in turn, mean more
focus on security. Consumers need to know that their data
is safe, and the more they share, the more important that
becomes.
Moreover, people need to feel that they can have a
channel for challenging accuracy with data holders.
One holistic model for this could be “ethical business
regulation” as positioned by Professor Chris Hodges – a
clear measure and message that reassures consumers
that all businesses must meet a certain, agreed ethical
standard. There needs to be more encouragement for
businesses to act ethically, but businesses should seek to
resolve complaints from data subjects directly in the first
place.

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Where a consumer and a business cannot resolve a data
accuracy complaint, the consumer should be able to go
to a free-of-cost ombudsman service – an informal route
that leads to quick resolution (as works with financial
services in the UK for example). The ombudsman can
take an overview of the market and help keep regulators
informed about issues and trends. Regulators would then
support businesses that act ethically and clamp down
hard on the ones that don’t meet their legal requirements.
Rather than having to confront hordes of resolute
fundamentalists, businesses are increasingly faced with
entrepreneurial pragmatists. Most people are more than
willing to engage with the data economy, provided it’s
worth their while. This has been clearly demonstrated
by supermarket loyalty card schemes for the last two
decades, where purchasing data is used to provide
more targeted, personalised shopping experiences and
promotions.
What we can take away from this is that there is an
opportunity to develop a culture of data exchange fit for
the 21st century economy. Organisations across sectors
need to lead that dialogue, stepping up efforts to raise
awareness about the way in which data is created,
collected and used for the benefit of all.
Make transparency a core part of your strategy and daily operations.
Always act in the best interest of the customer, don’t just talk about it.
Ensure frequent and open communication.
Question if what you’re doing is delivering value to the customer.

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Data freedom
We are witnessing one particularly disruptive
data trend. The opening up of data, and its
democratisation through open source solutions
and Application Programming Interfaces
(APIs), brings new kinds of opportunities for
organisations and their customers. But what’s
actually happening in this arena and what does
more open, freer data mean?
As data volumes and types increased and evolved in
recent years, we’ve seen a growing group of organisations
and individuals campaigning for more freedom and
openness of data. Rather than cloistered data, hidden
away, these groups want data to be opened up to the
digital landscape.
‘Data Freedom’ is manifesting in numerous guises
through various channels, with the potential to radically
change how data is used, who controls its use, and where
it is used. Here are some of the most important types.
Open Data
As the name would suggest, Open Data is data that is
made available for anyone to access, use, and share,
whether they’re a business, government, organisation, or
individual. Many of us have always used Open Data, it just
hasn’t had that label before. Now we have a brand name
for this kind of information.
The Open Data trend is becoming significantly more
prevalent in the public sector, but some private sector
organisations have begun dipping their toes into the seas
of Open Data too.
Many commentators see a potential gold rush from
the rise of Open Data. The land grab has certainly
materialised, as Open Data sets are proliferating fast,
with millions of data sets available through a handful of
dedicated sites. There are numerous formal initiatives
aimed at promoting data sharing, with a view to driving
greater innovation and competition. While these formal
initiatives are still developing, Open Data is very much
here to stay, and businesses will soon have to consider
their stance and offerings within the context of Open Data.
Data Portability
The UK government has a stated ambition to have a
leading digital economy. They fundamentally believe that
a strong digital economy is good for consumers, good for
businesses and ultimately good for the country. This has
been a developing philosophy since 2012, when they
launched the miData initiative, and the sentiment has
become increasingly visible in both UK and EU legislation
and regulation.
More recently the focus has switched to banking, where
the Competition and Markets Authority has mandated
that bank product and transaction information is made
available in the market through Open APIs. The first
product information in this space is expected early next
year and transaction level information is due by Q1 2018.
This data will be made available to anyone, whether

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they’re the individual consumer or the small business that
decides to use it. The stated intention is that more data
will drive more innovation and more competition, and
ultimately deliver better outcomes for customers.
This is a blueprint that we could now see being applied
to other sectors, such as the pensions industry, and one
which will continue to evolve over the next few years.
Giving increasing control to the consumer is something
that organisations of all shapes and size will have to
adjust to.
Frequently review how key competitors are working with or incorporating Open Data.
Monitor regulation and legislation that relates to Open Data standards.
Ensure that data strategy is regularly reviewed to incorporate any new developments or changes.
Freer data
The freeing up of data has meant it’s no longer something
being discussed solely in boardrooms and technical
laboratories. Every day, people get out of bed and look
at the data collected on their sleep patterns, investigate
what they are spending money on through apps, or look
at the possession and running stats from their favourite
sports teams.
Data is now everywhere in our society, which means
that the general population is becoming increasingly
switchedon to how it is used and how to use it. This
isn’t to say that people are going to suddenly become
data scientists overnight, but it means that the general
discourse around data can become more sophisticated
as the base level of understanding across the population
increases. However, when discussing these matters it’s
crucial that we avoid going too far and veering towards
unfounded prediction and conjecture, so that informed
and open discussions about using data can take place and
we can move forwards with confidence.

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New data
Data sits at the heart of the digital revolution. The huge
volume of digital data being generated by organisations
and individuals has played a pivotal role in the exponential
growth in the amount of data as a whole … And that’s only
going to increase.
New data coming from sources like social media,
connected cities, cars (90% of cars will be connected by
2020) and wearables has the potential to make profound
and beneficial changes to the way we all live. These are
transformative times and we should all start to look
forward to the opportunities that lie ahead and think big.
Imagine a future scenario where your NHS health data
is connected to your wearable technology, so that your
doctor can monitor your health in realtime. That’s the kind
of data–driven change that could not only improve your
life, but potentially save it.
Some key themes have emerged in the new digital world
that many businesses are still trying to come to terms
with.
Data is driving digital
Today, ‘digital’ and huge amounts of data exist in a
symbiotic relationship. The smart use of data is already
improving customer experience. Consider online
commerce where digitalisation has changed everything.
Personalisation of digital experiences is no longer an
extra, but an expectation. If a customer has visited
your site once, they expect you to recognise them on
subsequent visits and they expect a tailored experience
from businesses that have their data. Online retailers
have all responded to this expectation.
But, we are only at the beginning of this change, as the
smarter use of more data has the potential to transform
customers’ experiences far more. It is data that is at the
heart of these user experiences. It is the fuel that in an
increasingly cluttered digital world, delivers a superior
online user experience - across advertising impressions,
published news and content, e-commerce, banking and
financial platforms and other touchpoints.
In order to provide a personalised experience, businesses
must leverage data from multiple sources, and apply that
data to serve customers with relevant content, product
recommendations and services based on intent, location
and interests.
The Internet of Things
As the Internet of Things develops, digital data will allow
brands to collect permission-based, real-time data about
how, when, and where consumers use their products,
creating data ecosystems.
Think of going to a shopping centre and being directed
via your watch to the stores with new items in stock that
atch your personal tastes. Today the growth of almost all
organisations is tied to their ability to operate successfully
in the new digital landscape. So, where would this
‘Internet of Things’ be without data?
A series of objects, connected to each other across
a network, is not automatically ‘intelligent’. The
interconnection is merely the starting point for building
an intelligent system, and predictive analytics harnesses
data to provide that intelligence. By analysing data flowing
across the network and applying machine learning, raw
data can be converted into clearly defined outcomes that
will allow the network to learn how to govern itself over
time. Predictive analytics therefore uses data to enable
Artificial Intelligence (AI), as the network will gradually
become self-aware, self-regulating, and potentially self-
sufficient.
As products themselves create data in an Internet of
Things world, brands will be able to understand how a
product or service is actually being used. They’ll then
be able to deliver a better service experience, using the
product as an interface for data-driven support. Faults
will be detected and even remedied before the customer
notices them, and product upgrades will be automatically
delivered.
90% of cars will be connected by 2020

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There are some cautionary notes, however, associated
with this digital data deluge. We need to be careful that
the ability to track a consumer’s movements in the
digital landscape doesn’t make them feel ‘creeped out’ or
uncomfortable. And we still need to focus on data quality.
Customer centricity enabled by data
For most organisations, much of the value of collating
and analysing data lies in acquiring a more sophisticated
understanding of their customers – developing a 360˚
view of the people they are trying to provide products and
services for. This is key to improving and perfecting the
service and customer experience, but it’s also becoming
increasingly complex as new digital channels emerge.
First-party data – provided by the customers themselves
– has been the primary contributor to the single customer
view, as consumers share their data in the expectation
of a better experience, but now businesses must look to
second- and third- party data as well.
Second-party data
The newest form of data, second-party data, comes
from a partner who’s given permission for you to use it.
You still require consumer consent, so this is – in effect
– first-party data from another source, as it’s collected
in the same manner but then shared with another
organisation. A major benefit is that it allows you to reach
users who show they’re a good match for your product or
service, but aren’t already customers.
Second-party data is more scalable too, as organisations
begin to form strategic partnerships and affiliations to
share information. The idea of sharing the load like this
can alleviate some of the concerns around gathering large
volumes of first-party data, making it a growing area for
the future. In the digital advertising sector, partnerships
like this are particularly popular, as they allow advertisers
to identify and reach audiences with similar qualities to
existing customers.
Third-party data
Aggregated from multiple sources via indirect channels,
third-party data is usually drawn on to create generalised
segments for targeting. Data companies aggregate
customer consented information from multiple websites,
showing interests in particular topics based on behaviour,
before categorising people into defined groups, such as
‘sports enthusiasts’. It can also include information such
as smartphone location or purchasing transactions.
97% of organisations are looking to
achieve a single view of their customers

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Bringing it all together
First-party data’s power is augmented when it’s enriched
by the other two categories. High performers take
advantage of all three types, as this approach moves
them closer to the ‘Holy Grail’ of a truly 360˚holistic
view of the consumer, that benefits business and
customer alike. According to Experian research, 97% of
organisations are looking to achieve a single view of their
customers.
Data must paint a full and nuanced picture of individual
customers. Achieving this means drawing on multiple
data sources, creating a rich blend of insight that cuts to
the heart of the customer’s needs and wants. As far as
possible, organisations should therefore be looking at all
the data they can.
Maintain a laser focus on creating a ‘single customer view’ – make it a strategic priority for the business.
Explore emerging data types and formats.
Focus on data quality, rather than simply volume.
Collecting and interpreting a brand’s first-party data is the
first and most important step that organisations can take
to achieving a customer-first approach. This makes it a
top priority for any successful business strategy, as study
after study has shown that there’s no better predictor of
future customer actions than past customer actions.
Data quality must also be a central part of any business’
planning around data, as poor data means poor
targeting, poor efficiency, poor results, and wasted
money – potentially even reputational damage. Misuse
of consumers’ personal data will erode trust and belief
in the value that brands and media owners provide.
Businesses have a collective responsibility not to
undermine its power. If used responsibly, and effectively,
data stands to enrich the digital experience for brands
and individuals alike.

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More analytics – speed and agility
through prediction
Data only becomes useful if it provides relevant and
timely insights, and analysis is what extracts insights
from data. These insights are only useful if they generate
payback for the business or the consumer, preferably
both.
All told, this means that when people talk about data
– ‘Big’ or ‘Small’ – they should always be talking about
data analytics as well. Once large datasets are analysed,
trends can be revealed, correlations can be determined,
and businesses can run more efficiently.
The 6 V’s of data are also driving an increasingly pressing
need for smarter and more automated analytics, more
commonly referred to as ‘advanced analytics’.
A new analytics market is evolving, with specific
characteristics, including:
• Fast, automated analytics that informs operational
decision-making in real-time, or near real-time
• New predictive methodologies, such as machine
learning, which drive recommendations that can keep
pace with market behaviour
• Analysis of huge data sets, from a variety of sources,
through self-service tools
• Findings delivered in an easily visualised format,
which are consumed through a single inter-connected
technology platform

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Prediction, not reaction
The ‘science’ of predictive analytics is at the forefront
of making sense of large data sets. It provides a set of
techniques that deal with extreme complexity, at speed
and with agility, extracting meaningful information from
present as well as historical data sets. It spots patterns
in data and predicts unknowns, future outcomes, and
trends.
Traditional analytics insights and descriptions (what
happened and why?) are moving towards predictive and
prescriptive applications (what will happen and how can
we make it happen?). This means far more tangible return
on investment for organisations.
Cognitive analytics
Focusing on one branch of predictive analytics, the advent
of cognitive analytics means we can now automate
analytical thinking and self-learning through machine
learning. Learnings are fed back into the analytics
ecosystem to be applied in future situations, to answer
new or related questions. Every time the mechanism
becomes smarter.
Needless to say, analytics at this level has a vast range
of applications. Fraud agencies will be able to develop
risk engines that flag candidates for further examination.
Retailers will be able to optimise decision processes
such as monitoring and addressing inventory levels, or
adjusting in-store pricing in real-time for flash sales.
Cognitive analytics will also make other analytics better
by analysing huge data sets in their entirety, rather than
the far smaller samples which users can cope with.
Learning algorithms are increasingly anticipating what
we want, delivering recommendations and offers to the
consumer based on what they’re about to do, and not
what they’ve previously done. This anticipatory analytics
is enabled by access to vast new stores of data, from
customer behaviours and external sources, which enable
organisations to deploy ‘situational selling’ based on the
specific individual and their situation at that moment in
time.
Some of the world’s top companies continue to invest
heavily in Big Data, machine learning, and artificial
intelligence capabilities. Over the next few years, we can
expect to see significant advances in machine learning,
reducing the time to insight and manual data wrangling
required. This will then free up significant chunks of time
for employees to focus on driving efficiencies and work on
directly revenue-generating activities.
Data only becomes useful if it provides
relevant and timely insights

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Data visualisation
Advanced analytics may be powerful and impressive,
but the data and findings must be presented in an
accessible, readable format which makes them clear.
Developments in data visualisation technology now allow
users to view and manipulate hundreds of variables and
parameters, and the impact these are having has led
some commentators to suggest that ‘Visualisation’ should
be included as another of the data V’s.
New opportunities
The powerful combination of behavioural data and
predictive analysis is opening up new areas of opportunity
for analytics businesses:
• Dynamic pricing – from ride-sharing services to
sporting events, this real-time situational pricing
capability allows companies to balance supply and
demand. Research has shown that consumers are
becoming more accepting of these practices, as long as
the variation remains reasonable.
• Pre-emptive safety – the ability to predict events such
as fires or failing machine parts, or even priority lists
for food hygiene in restaurants.
• Targeted intervention – the ability to predict drop-out
students and identify which at-risk students require
extra support. Rehabilitation assignment decisions on
an individual offender basis, drawing on predictions of
future repeat offenses.
In addition, complex event processing and streaming
analytics software can detect poor user experiences,
enabling brands to offer proactive customer service. A
customer who presses the start button of a new device
five times in a row would indicate they’re having trouble
operating the device, and could be offered real-time
support or an instructional video via their mobile device.
While this may all sound like the human element of
analytics will be circumvented, this won’t be the case
at all. Models must be built and tested, designed to
accommodate incomplete information, and developed
to adapt to mistakes and failures. Actual and expected
performance must be monitored and compared, and any
disparity addressed.
Above all, transparency of advanced analytics will
still be demanded for the foreseeable future so that
organisations can track what is happening and why.
With people in every area of business often struggling
with data and analytics, the opportunity for analytics
companies is huge. As data sets grow, we’ll see predictive
algorithms used more and more as a methodology for
mining data where traditional techniques can’t be used.
Predictive analytics will continue to evolve from an
innovative extra capability to must-have functionality.
We’ll also experience the integration of advanced
analytics, predictive analytics and machine learning.
Future developments will see analytics simplified and
outsourced. New automation and visualisation software
is already breaking down barriers between the data-
initiated and uninitiated, and through a continuation of this
trend we’re going to see analysis of data sets becoming
considerably simpler. Drag and drop analysis has already
arrived on tablets, allowing almost anyone to conduct an
increasingly sophisticated level of analytics.

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Ensure the company as a whole takes a ‘datadriven’ approach, leaning on insights from analytics to
guide decision making.
Make sure that analytics is employed in all departments in the business, not just those where it’s already
playing a role.
Provide training for any staff who are not comfortable with the fundamentals of analysing data.
Examine the day-to-day operations of the company for opportunities where real-time analytics or
predictive analytics could play a role.

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We’ve already seen in the discussion of data variety that
a key characteristic of Big Data is that it comes from
numerous different silos and channels, both offline and
online. In pre-digital days, when we only had consumer
data records that related to a physical consumer address
or postcode, it was simpler to bring separate data
elements about the same consumer together.
Today, however, linking data which an individual generates
across their offline and online journey is challenging.
The proliferation of channels has had a profound effect
on the range and volume of data available, as well as
hampering the ability of organisations to connect with
their customers.
There are arguably more opportunities for engagement,
but meaningful connection and consistent personalised
experiences have become far more difficult, and the
challenge is only growing.
Link for success
‘Linkage’ is growing to become a fundamental idea. This
concept involves identifying users by their device or
internet connection, and linking together their identities
across each interaction in order to create a single view of
the customer and understand how to engage with them
across a variety of channels, both digital and ‘traditional’.
This enables us to derive a holistic view across multiple
data sources and, importantly, to enrich customer records
with additional data. As customer engagement activity
shifts to the digital realm, and digital channels continue
to grow and diversify, linkage data will become a highly
valued asset.
The 360 Single Customer View
In a digital world, a truly unified, cross-channel view of
customers is something that no modern business can
do without, although many still struggle to achieve it. As
people move from social networks to websites, physical
stores, and traditional media, they expect brands to keep
up. They need to be treated consistently, regardless of the
channel they’re using, and the challenge is for businesses
to really understand what they want and who they are at
all stages of the customer journey.
81% of businesses still report challenges
in achieving a single customer view
The proliferation of data, and the variety of channels from which it comes, present a growing
challenge in consistently identifying individuals across channels. How do organisations establish and
track this identity?
New identities and linkage

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This has various implications for businesses, but
fundamentally it means that businesses must be able to
recognise a specific customer, wherever they are and no
matter what device they’re using. A single customer view
means achieving a deeper understanding of a consumer’s
life, throughout their customer journey, and regardless of
where they are interacting and transacting. Harnessing
the power of data is the key to achieving this.
From there, they must then be able to adapt their
marketing materials to factor in previous encounters and
preferences, ensuring that the customer’s experience
is seamless and tailored. And all of this must be done
flexibly and at scale.
Perhaps unsurprisingly, 81% of businesses still report
challenges in achieving a single customer view. It seems
that technology is the main obstacle to achieving this,
from the need to work in real-time, to using data from
multiple sources, and accessing data that sits elsewhere
within the business. This represents everything from
storage, through data blending, to accessibility and short-
and long-term storage.
Looking at the business as a whole, linkage and the
single customer view will address a growing market need
across all sectors, and all business divisions. Change
won’t be rapid but it will come, and when it does then
it will completely transform the relationship between
business and customer.
Support clear and open communication between any departments which interact with customers, from
sales to marketing to finance.
Ensure there is a central database of customer interaction histories and account data, which all
departments can access, draw on, and update.
Review data management practices on a regular basis, to ensure opportunities for greater efficiency
aren’t missed.

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Technology - making sense of the data
explosion
Unlocking value in Big Data goes hand in glove with
the technology developments which allow us to more
efficiently store, manage, and process it. What are the
major developments and why do they matter?
If data isn’t new, what’s held us back from better
harnessing it in the past? The answer to this lies
largely in technology and its ability to ingest, process,
and make sense of the volume and variety of data that
consumers and businesses create. Our ability to unlock
the value in data has therefore progressed alongside with
technological developments, their affordability and their
accessibility.
Data proliferation has hastened and accentuated
the demand for technologies that can create value,
particularly from unstructured data, which constitutes
80% of all data. These constantly improving technologies
are also helping to put structured data into context by
mapping it to the vast amount of unstructured data.
The fundamental technologies which help us to
examine and interpret raw information in increasingly
sophisticated ways fall into three categories – storage,
computing, and analytical software. Each of these are
deployed by organisations in order to realise the value in
the growing torrent of data at their disposal.
Distributed computing
Big Data has driven significant developments in storage
and processing, all of which have been well documented.
In the last few years we’ve seen surging adoption of
open solutions which enable distributed storage and
processing. These solutions allow organisations to work
with very large data sets via computer clusters built from
commodity hardware.
The success of distributed computing is clear to see, and
its power is simple to understand, as organisations unite
and co-ordinate the power of a network of computers
in the cloud for their compute needs. Search engines,
for example, use hundreds of computers, all working in
concert, to deliver answers to search queries every day –
all in a fraction of a second.
It’s predicted that by 2020, at least a third
of all data will pass through the cloud

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Cloud computing
The options for ‘The Cloud’ seem to increase almost daily,
as more and more businesses transfer to the cloud and
stay there. It’s predicted that by 2020, at least a third of all
data will pass through the cloud.
Cloud-centred data processing and analysis has
drastically improved the cost efficacy of these
capabilities, allowing organisations without the budget
for traditional Big Data analytics to embrace the idea
of better managing their structured and unstructured
data sources. In short, The Cloud continues to offer
organisations a wider range of services, at more
affordable prices than ever before.
Data Management Platforms
The explosion in first, second, and third-party data has
given rise to a surge in popularity for data management
platforms “(DMPs)”, particularly in the marketing
department. As organisations struggle with the challenge
of simply managing disparate and varied data, let alone
analysing it, a data management platform enables
consolidation into a centralised platform.
These platforms can unite both online and offline data.
This could include – for example – first-party data from
your email system and web interactions, second-party
data from a partner, and third-party data from a social
media platform’s demographic data sets. This can then
be combined with personal, channel, and device type
information from user IDs for a more complete customer
view. Once it’s all in one place, it can then be activated
across all of your marketing and advertising systems.
Consolidating data from various user channels means
‘DMPs’ can help publishers gain more precise audience
information. While this can translate into selling more
tailored, effective advertising, it also delivers greater
insight into the actual needs and interests of users.

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As a result, technological development has been driving
towards real-time analysis of huge volumes of data.
Various current solutions include using in-memory
databases to speed up analytic processing; real-time
data access; decisionmaking and optimization engines;
analytics software platforms; and data visualisation
packages. In fact, progress has been so marked in recent
years that we are looking at a future where analytics
software is able to incorporate predictive capabilities
into a usable package for non-specialists. Data is
being democratised, and the combination of accessible
analytical tools and their substantial predictive power will
speed the change.
The focus for businesses must be to commit investment
to the infrastructure needed to support growing volumes
of data. This means continuing hardware improvements,
finding software innovations, bolstering security policies,
and combining them all to enhance the customer
experience.
Review the core infrastructure currently in place for handling data, and schedule regular reviews to
evaluate whether any changes or upgrades are needed for managing the exponentially increasing
volumes of data.
Monitor developments in cloud computing and distributed computing on an ongoing basis, in
order to identify possible efficiencies and improvements.
Consider setting up an internal working group, comprised of different department heads, to jointly
review new technological propositions and how they could improve the business.

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Whilst faster data can be much more valuable than
slower, ‘after-the-fact’ data, the core challenge is how to
create rapid insights from it and then act on them. This
means rapid analysis is critical, but this comes after
another fundamental step – ensuring rapid distribution.
Without speedy distribution of data, fast insights and
actions aren’t possible, and this is a challenge for
organisations of all sizes.
Real-time vs batch processing
Historically organisations and their computing systems
have been set up to work over cycles in days, weeks and
even months. The world works entirely differently today,
and things need to work in an instant. Take online banking
as an example. We can now view our statements via our
mobile phones or make instant payments with a few
clicks. These are things that would have historically taken
several days.
Sometimes thousands of transactions are
taking place in a fraction of a second, and
all this digital, data-driven innovation and
speed is changing our expectations about
how things should work
The API economy
To meet this challenge, we have seen more mainstream
growth of interconnected Application Programming
Interfaces (APIs). These are tools and technical protocols
that allow third-party software programs to interact more
easily with an application – vital in a digital world with an
ever-growing variety of technical solutions and software
vendors.
For example, the numerous APIs for the major online
video services allow web developers to integrate videos
directly into websites, amongst other things. Taking a
more general view, these innovations are designed to
allow organisations to more easily and quickly access
the data and processes of a piece of software, by making
communication smoother.
APIs have already started to change how companies
share information and reach new customers, and
consequently they’re being positioned as a key driver for
the digital economy. As a result, there’s a growing pool of
businesses devoting time to this emerging area.
Speedy data delivers fast returns
APIs make data more accessible across a given
ecosystem, which then allows many organisations to open
up new ways of generating revenue. Even governments
are making concerted efforts to promote APIs, such
as requiring public sector agencies to make their data
available in open, machine-readable APIs.
Rather than re-inventing the wheel, API innovators are
honing and perfecting existing services in order to create
In the financial markets things move even faster,
sometimes thousands of transactions are taking
place in a fraction of a second, and all this digital,
data–driven innovation and speed is changing our
expectations about how things should work. This is a real
challenge presented for all large and well-established
organisations, which need to move their infrastructure
to a point which can meet and exceed those consumer
expectations.
With data velocity increasing all the time, our data also becomes more perishable. Aside from
making analytics software faster, how are businesses taking on the challenge of harnessing data
effectively?
Faster distribution

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an exceptional user experience. This in turn allows
smaller companies to disrupt large competitors with
minimal investment in resources. By spending only a few
thousand pounds, start-ups can now create a product
that, from the customer’s perspective, is indistinguishable
from a multi-million dollar project that took years to
build. You no longer have to be a software giant to make a
sizeable impact, thanks to the API economy.
By using APIs, companies can go to market quickly, and
by providing APIs and establishing an ecosystem they can
scale up to be competitive.
Blockchain
Used to underpin the cryptocurrency Bitcoin, blockchain
technology effectively creates a distributed database that
maintains a continuously-growing list of data records
across a global network. Each new block contains a
certain amount of data, and refers back to previous items
in the chain, giving the blockchain a linear, chronological
order.
Once a given block has been completed, it becomes a
permanent database and a new block is automatically
generated, but blocks can only be updated if the majority
of participants in the network consent.
Crucially, because data is distributed between many
parties, there’s no need for a central server. Advocates
therefore argue this provides greater security – as the
‘digital ledger’ is shared between many thousands of
terminals, making it far harder to tamper with – and
improved resilience, as the chain isn’t reliant on any one
node in particular.
The European Securities and Markets Authority recently
launched an independent consultation team to explore
blockchain technology, which predicted that using
distributed ledgers would improve the verification of
transactions.
Currently, while identity is being debated widely,
innovations for blockchain technology remain focused
in the financial sector, with multiple organisations
envisioning a key role for blockchains in areas from
remittances to securities and exchanges.
In the business world, competitive advantage relies on
fast insights. Fast insights rely on fast data. Data speed
depends on the distribution technology that carries it.
In a digital environment where speed is everything, and
microseconds matter, APIs and blockchain technology
have the potential to distribute data at the pace needed
for the next generation of businesses and innovators.
Organisations need to challenge themselves by looking
beyond their immediate needs for new solutions and
opportunities to improve.

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Review your legacy data distribution technologies now to identify any which urgently need to be
replaced.
Monitor new innovations in the API space and experiment to see which have the greatest effect on data
distribution speed.
Agree and safeguard a budget for regularly refreshing your technologies and systems.

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UK regulation – current key issues
There are several upcoming developments of which
all organisations should be aware. Many initiatives
are already impacting UK business – or will do in the
near future – but the most prominent regulatory and
governance developments currently on the table relate
mainly to consumer privacy, data protection and data
portability.
• EU General Data Protection Regulation – legally
enforceable in May 2018, the changes resulting from
this major reform of data protection legislation across
the EU include higher levels of control around consumer
consent, increased accountability and transparency
requirements, and significantly higher fines and
rights of redress. This will ultimately mean greater
responsibility for all data-holding companies.
• Competition Markets Authority (CMA) Retail Banking
Investigation – requires the sharing of banking
transactional data through an Open API (and always
with the consumer’s consent) as a primary remedy
for perceived lack of competition in the retail banking
market.
• EU Payment Services Directive 2 (PSD2) – due to be
enacted into English law by early 2018, PSD2 will
provide consumers with the ability to access their
payment data and transmit it to certain third parties.
This will allow them to aggregate their account
information and make payments from their accounts
from outside of their online banking.
• Digital Economy Bill – an important piece of proposed
UK legislation designed to help consolidate and
preserve the UK’s position as a world leader in the
digital economy.
• EU Digital Single Market – a framework policy
initiative launched by the European Commission in
2015, designed to improve access to digital goods
and services, create the right environment for digital
networks and services to flourish, and promote digital
as a driver for growth.
Regulation and governance in a data rich
world
While data has exploded, a move towards a more
appropriate regulatory landscape has emerged alongside
it. On the one hand this regulatory drive aims to ensure
greater protection for individuals and to impose greater
restrictions on organisations around the use of data. On
the other hand, regulation is also driving free movement
of data, in order to support greater competition in
markets deemed to be failing the consumer.
New regulatory initiatives about data are not just
being adopted in Europe, but also across Asia,
South America and North America, helping both
individuals and businesses alike. While the regulatory
landscape may be complex, the central idea of
keeping consumer interests front of mind at all times
mirrors sound fundamental advice for all companies.
Customer-first business practices remain the way
forward.
Those businesses which can anticipate
and act before changing regulation is
enacted stand to benefit

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The underlying factors
Navigating regulation may well be a significant challenge,
but appreciating the underlying drivers of new and
existing regulations will help organisations to understand
the rationale behind most developments, and perhaps
even anticipate them. So what are the market-based and
societal changes that are driving regulatory evolution?
01. Data security
Perhaps the most prominent issue on the regulatory
agenda – how do we protect competitively sensitive data,
or any other data that should be kept private? High profile
data breaches have shown the world that security issues
can expose confidential information, making this a high
profile focus for technological innovation and policy.
02. Multiple use cases for the same data
Data privacy used to be simple. You received people’s
data, then once you had used it, you deleted it. Recently
this has been less clear cut, as the use of data is likely to
go well beyond the initial use case. For instance, using
historical data to predict future outcomes is the entire
basis of predictive analytics. However, this requires
the data to essentially lie dormant for an indeterminate
amount of time, which may well clash with future
guidelines and laws. These rules will therefore have
a significant impact on the way that companies and
governments gather, store, and use data.
03. The power of one!
Data privacy issues are now prominent enough that we
actually have private individuals bringing legal test cases
against some of the biggest global data organisations,
focused on the use of their personal data. What’s more,
some high profile rulings have been made in favour of
these individuals.
Whilst data ‘knows no boundaries’, major international
organisations are now setting up physical data hubs in
Europe to comply with national data regulation laws. As a
result, pressure is being applied to others to follow suit.
04. Digital content challenges
Large enterprises engaging in digital business models
and activities are increasingly hiring a Digital Risk Officer
or an equivalent. This is the result of ongoing grappling
with enormous banks of digital content, which will in all
likelihood be spread across a number of regions and
multiple borders. Regulatory and legislative bodies will
expect organisations to recognise the importance and
vulnerability of their digital assets, but the reality is that
digital risk management is still in its infancy.
05. Automation and algorithms
As more and more data becomes available, and
technologies become increasingly sophisticated, the trend
towards automation of decision making and algorithmic
“learning” will continue. This trend is already bringing up
a range of new challenges, as concerns surface around
the consequences of automating results generation. By
their very nature, algorithms could amplify inadvertent
or historical biases on the part of businesses, as well as
making these biases harder to identify and rectify.
Of course, political influences on the regulatory landscape
will have a bearing on exactly how some of this regulation
emerges and how businesses will need to respond, with
‘Brexit’ in particular introducing an additional layer of
uncertainty in relation to EU legislation. However, the
overall direction is clear and amongst this uncertainty lies
opportunity for smart brands. Those businesses which
can anticipate the inevitable changes, and act voluntarily
before regulation is enacted – such as improving
transparency around how they use consumer data –
stand to benefit from a significant ‘halo effect’.

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06. The Internet of Things
The Internet of Things involves an intricate mesh of
people, devices, systems, and network connections, as
well as different data storage and transport locations. To
ensure privacy and increase consumer trust, it’s essential
that each discrete part of the system is only able to
access, manage, or share data that it’s allowed to.
Multi-level security and privacy controls are required,
which means policies built into the very architecture of
any platform. Picturing a basic consumer example, if you
visit someone’s house, you shouldn’t be able to detect
their devices on your smartphone. Permissions or secure
keys must be given
07. Data minimisation
As businesses and other organisations store increasing
volumes of data, questions have arisen about the actual
purpose of these ‘data lakes’. Companies seemingly
waste millions on the storage of what appears to be
useless, redundant data. According to Veritas’s Databerg
Report, released in October 2015, 54% of data retained by
companies is unidentified. Of the remaining 46% – data
which has been tagged and classified – a third (32%)
is redundant, obsolete, or trivial. This means that only
14% of corporate data could currently be classified as
business-critical.
Apparently 76% of the UK public sector’s data is not
yet identified – this level of ‘dark data’ is the highest
proportion in Europe. We’re beginning to see governance
officers talk about ‘data minimisation by design’, whereby
organisations only collect data that’s necessary for the
business to operate. This is particularly true of those
businesses which harvest large volumes of customer
data, where a ‘just in case’ mentality prevails when it
comes to deciding which data to collect and store. As the
amount of regulation increases, this will be an interesting
development to monitor.
In other words, non-compliant information
is being stored at a vast scale.

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08. Where does the IP in data reside?
The growing economic importance of data raises a
number of legal questions, particularly when coupled
with the fact that data differs from other assets. A unit
of data can be copied perfectly and combined with other
data, or used simultaneously by more than one person.
These characteristics make data unique when compared
with physical assets, and raise questions of intellectual
property rights.
Who ‘owns’ a piece of data? What rights come attached
with a data set? What defines ‘fair use’ of data? There are
questions of liability too, such as who is responsible when
inaccurate data leads to negative consequences? Each of
these legal issues and many more, need clarification over
the coming months and years, in order to capture the full
potential of data.
Ethical data code
As the focus moves away from technology to governance,
security, and infrastructure integration, businesses will
face tough decisions. Whether its new deployments,
investment choices, or transparency around data
and analytics, the path won’t be easy to navigate. The
trustworthiness of the way analytics algorithms handle
and manipulate data, and thereby derive insight from it,
will remain an issue for the majority of organisations.
The good news is that ethical guidelines are beginning
to emerge, helping business analytics professionals to
do the right thing and avoid unintended consequences.
Clear laws surrounding data privacy and collection will be
critical, but also data storage, distribution, and security,
as these will be key to the overall future success of data
use in business.

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Review upcoming changes to legislation and regulation, and ensure the business is compliant BEFORE
they come into effect.
Ensure clear governance and compliance models are set up within the company, and that department
heads and managers fully understand the expectations surrounding them.
Where possible, take a visible leadership position on regulatory changes.

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Data driving new skill requirements
Current data trends are not only changing how
organisations operate on a day-to-day basis, they’re also
affecting the kind of people who are most in demand. A
new collection of skills and business roles are needed to
manage and unlock data, as well as minimise any risks.
Today’s organisations must look beyond the latest
technologies when it comes to data. They must pay
attention to a variety of new and developing skills,
working out how these can be combined with technology
to deliver the insights and decisions they need. This
expanding skillset can’t be combined in only one person,
so this means we’ll soon see a growing number of cross-
functional teams, across both business and technology
groups.
In amongst this upheaval there are particular skills
resourcing gaps, and these are where organisations will
need to focus their attention.
Data scientists
The era of data has created a talent gap for people
who can pull usable insight out of raw data. Several
commentators have pointed to data scientists as a key
force in influencing modern business practices, holding
them up as ‘the new superheroes’.
That said, news about the data science talent gap
persists, and it seems that gap isn’t closing as rapidly as
many would like. The core issue isn’t finding technically
capable people, as many analysts have coding skills.
Instead, the difficulty lies in finding people who can code
while keeping an analytical perspective in mind. They
need to ensure the results they discover and produce
are not only reliable but also relevant to the specific
commercial aims they’ve been set. This is where the gap
is. There simply aren’t enough people with the skills to
analyse and interpret data, transforming it into useable,
focused, business-relevant insight – the ultimate aim of
any data-driven initiative.
In-house training
Instead of focusing solely on new talent, numerous
organisations are growing their data science capabilities
through developing internal talent. Many companies, of
various sizes, make their first steps towards embracing
data science through training up current employees and
helping them to experiment with cloud-based tools.
If this isn’t possible, and you aren’t able to hire permanent
team members, then there are a growing number of
data science agencies that can provide the support
that businesses need. However, the skillsets of most
agencies focus on the pure data science element,
rather than the commercial awareness we’ve already
identified as crucial. To accommodate these data science
secondments, organisations must already have the right
infrastructure, business organisation, and supervisory
skills in place, so a certain amount of in-house training
will be inevitable.
Open source analytical and data packages
Off-the-shelf data analytics algorithms and visualisation
capabilities have exploded, thanks to open source.
There is a possibility that in time we may not need data
scientists to produce any complex coding for analytics
or visualisations at all. Instead, the latest generation
of packages and solutions will allow organisations to
conduct analytics and data visualisation without the
need for technical specialists. If this transpires, and the
complex technical elements are taken care of, then there
could also be a renewed emphasis on solving business
problems.
Data-driven leaders and the Chief Data Officer
With people throughout organisations waking up to
the strategic value of data, the skills gap amongst
business managers is becoming more and more obvious.
Management – and senior management – almost
invariably aren’t equipped to translate results from data
science teams into meaningful business implications.
Moreover, they need to develop a broad understanding of
the data-driven world overall.

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We’ve seen the rise of the Chief Information Officer within
the boardroom, but businesses need to do far more.
There’s a worrying lack of capability at a senior level
when it comes to seeing and understanding the benefits
and risks of developing a data strategy, whether for
driving results for the business or value for customers, or
both.
What has become apparent is the need for a Chief Data
Officer to support the work of the CIO. We can add
Chief Digital Officer, alongside Chief Data Officers and
Director of Insights, as emerging new roles which have
come about in response to the pressure and opportunity
presented by Big Data.
Organisations without strong data leadership are going
to fall significantly behind their competitors in all areas,
including their ability to win, serve, and retain customers.
Intuition has little place in understanding the customer
and the customer experience any more. There’s more
than enough data to tell you everything you need to know.
90% of businesses feel data is
transforming the way they do business
As with data scientists, these data professionals are in
high demand. Experian’s 2015 report into the ‘Dawn of the
Chief Data Officer’ found that around 90% of businesses
feel data is transforming the way they do business.
Data Protection Officers, security experts, data
management, and legal skills
Any data strategy must include an appropriate roadmap
to meet the criteria of meeting the challenges presented
by data regulation, legislation, and also security issues.
As a result, many data-related roles are emerging to
address various skills gaps in these closely related areas.
In many organisations, data governance functions still
aren’t able to cope with growing data requirements
and increased regulation, let alone the legal and IP
issues associated with data. What is required is data
leaders, with the right skills for the job. Supported by the
Government, companies need to work quickly to fill these
skills gaps in time to address increasing levels of EU and
domestic legislation. This isn’t a quick issue to fix.
All senior business leaders will be expected to
understand and articulate a company’s data strategy, as
well as their position on data security, privacy and ethical
use of data. Articulating each of these to shareholders
and customers will require a particular blend of expertise.
In the short term, working with data specialists – both
individuals and consultancies – will be vital. In the long
term, all companies should be looking to up-skill and
upgrade their levels of data expertise.

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Ensure all employees are familiar with basic data analysis and working with data on a daily basis.
Demonstrate a data-driven approach to decision making at the management level, in order to encourage
this way of thinking throughout the organisation.
Encourage and reward those who drive a culture of data within the organisation.

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Conclusion
Across each of the trends we’ve highlighted, numerous
possibilities for businesses exist. From improving
operational efficiency to building a more trusted brand,
data brings challenges but also unlocks enormous
opportunities.
We’re living in the midst of a data and analytics revolution,
driven by the six V’s of data – volume, variety, veracity,
velocity, vulnerability and value. Previous assumptions
are being challenged and ‘data’ is set to enjoy a high-
profile position on the agendas of governments, NGOs,
regulators and businesses for many years to come.
Against this burgeoning backdrop, consumer attitudes
towards personal data and how it’s used are evolving, as
the public becomes more engaged in the debate around
data use and the many benefits it can bring.
Every organisation must remember that it doesn’t have
carte blanche to use data as it sees fit. Consumer privacy,
data protection and data security must be considered at
all times. Savvy businesses will take a clear, proactive
stance on these issues, ensuring that they permeate
every department and process.
Getting these factors right as soon as possible, rather
than waiting for direction from regulators or industry
bodies, will allow organisations to drive value for
everyone and build that all-important trust. The world
of data has always been one of constant change, but
trust must be the constant that sits at the heart of every
approach.

White paper
About Experian
In a faster, more complex world, where millions of
interactions take place every minute of every day,
Experian’s data and analytics help people, businesses and
organisations protect, manage and make the most of their
data, creating better business outcomes and building
stronger customer relationships.
We harness the power of data helping people, businesses
and organisations to:
• Lend and borrow responsibly
• Treat people and businesses fairly
• Access vital information more easily
• Make better, more efficient decisions to create better
business outcomes
• Protect themselves against fraud and identity theft
• Send and receive the most appropriate offers
• Put their resources in the right places, so they benefit
people and their local communities

© Experian 2017.
Experian Ltd is authorised and regulated by the Financial Conduct Authority. Experian Ltd is
registered in England and Wales under company registration number 653331.
The word “EXPERIAN” and the graphical device are trade marks of Experian and/or its associated
companies and may be registered in the EU, USA and other countries. The graphical device is a
registered Community design in the EU.
All rights reserved.
Registered office address:
The Sir John Peace Building, Experian Way,
NG2 Business Park, Nottingham, NG80 1ZZ
www.experian.co.uk
E: gtmcontactus@experian.com
NB-1217-3148

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