I send out a weekly email newsletter covering the latest news and analysis from the world of data. The focus is on how companies are using data to create new products and services as well as for competitive advantage. You can sign up to the newsletter HERE.
Below is the newsletter that was sent to subscribers today:
The Business of Data
Issue 5 (19 November 2018)
Data brokers and credit scorers accused of GDPR breaches – Financial Times, 8 November 2018
“European regulators have been asked to investigate several data brokers, credit rating agencies and adtech companies to see if they are breaching the EU’s new data protection laws.”
Keeping health data under lock and key – Phys.Org, 7 November 2018
“Researchers from the Collaborative Research Center CROSSING at Technische Universität Darmstadt (Germany) have developed a solution that will ensure decades of safe storage for sensitive health data in a joint project with Japanese and Canadian partners. An initial prototype was presented during a recent conference in Beijing, China. The system will go into trial operation in Japan in the coming weeks.”
Data: the oil of the digital age – National Health Executive, 7 November 2018
“Data sharing is needed so that the NHS and its evaluators and regulators can assess the quality and safety of the services that are being provided. It will also help to achieve value for money for taxpayers. In the digital age, data is the new oil. If the NHS gives its valuable data away to private companies, the NHS has the right to demand something in return.”
Data flows post-Brexit: ‘Leave it to government to make sure you’ve got a smooth run in.’ Er, OK – The Register, 8 November 2018
“Brexit secretary Dominic Raab has claimed businesses need to do “very little” to ensure data flows after March – despite official advice that they should start drafting new contracts in case of no deal Brexit.”
Listen to Your Customers: Turn to Data to Discover Their Truth – Entrepreneur Europe, 8 November 2018
“With almost any product, highly engaged users make up a small percentage of total users. Among those talking about the product, however, engaged users tend to dominate the conversation. As a result, companies often assume that what engaged users want is what the user base as a whole wants.
For example, when design and development firm Yeti built Tiny Eye, a freemium VR app reminiscent of “I Spy,” it tried to monetize Tiny Eye with a paid level pack. Although Yeti priced the paid levels at $1.99, a mere 1 percent of total users purchased them.”
As if connected toys weren’t creepy enough, kids’ data could be used against them in future – The Register 8 November 2018
“Connected toy makers should make clear what data they slurp up, the UK’s Office of the Children’s Commissioner has said in a report warning of the long-term impact of amassing data on kids.
According to the report (PDF), young folk will have sent out an average of 70,000 social media posts by the time they reach 18, while snap-happy parents will have uploaded 1,300 photos and videos of their offspring online before they become teenagers. Added to that is the data gathered through the schools and healthcare systems.”
Could data costs kill your AI startup? – Venture Beat, 10 November 2018
“Data gives AI startups a defensive moat: The more data the startup collects to train an AI model, the better that model will perform, making it difficult for a new entrant to catch up. That data does not come for free, however, and many AI startups see their margins eroded by this additional cost. You might hope to spend less on data as your models improve over time, but it’s unclear how to predict when that will happen and to what degree, making it difficult to model your future growth.”
Is London’s reign as Europe’s data capital under threat? – Information Age, 13 November 2018
“Work is needed to maintain London’s reign as Europe’s data capital, as the UK’s most influential data leaders struggle with pre-Brexit pressure, while also competing against data-savvy competitors globally — at a time when it is more challenging for organisations to manage data than ever before.
That was the message today from Big Data London, the UK’s largest exhibition and conference for data leaders, and it’s UK Fourth Industrial Revolution report.As a result of this changing landscape, this year’s report from Big Data London shows that 15% of UK CEOs are fully in charge of data. Last year, this figure was zero. It is a significant sign of the changing landscape. According to this year’s survey, 45% of data experts believe Brexit will not help London reign as data capital of Europe, 17% of whom go so far as thinking it impossible.”