Issue 6 of The Business of Data newsletter has just been published. You can sign up to receive future copies by email HERE.
The Business of Data
Issue 6 (27 November 2018)
Getting value from your data under GDPR – Information Age, 15 November 2018
“Conducting data analytics in a legally compliant manner has been made significantly more complex under the GDPR and raises the question, can companies continue to innovate and make data-driven decisions while fully complying with the law?”
Algorithms tame ambiguities in use of legal data – Financial Times, 15 November 2018
““The real challenge is teaching machine learning models to understand the wording,” says Lucy Shurwood, a partner at Pinsent Masons. The law firm is developing its own artificial intelligence platform, called TermFrame, to extract, review and analyse contract risks. “Something might be worded differently but mean the same thing and sometimes one word change will fundamentally alter the meaning of the clause,””
Harnessing the value of NHS patient data – The Lancet, 16 November 2018
“The potential for digital technology to transform health care is well documented, but as companies race to develop the next algorithm, much of their success rests on their ability to access patient data. Use of NHS patient data in the UK is a complex issue. There are different types of data. Logistical data on patient flow, time to referral, or which clinician a patient saw are useful pieces of information that can be used to streamline processes. Detailed demographic and diagnostic data can be personal and used in a host of ways from clinical decision support systems to training machine learning algorithms. NHS data can also be disorganised, requiring careful curation to develop it into a useful format. The lack of connectivity between different parts of the NHS is widely acknowledged and means that patient data can be difficult to work with and its value—in the broadest sense of the term—is often weakened by the technological limitations of the NHS.”
Follow the Data? Investigative Journalism in the Age of Algorithms – Singularity Hub, 18 November 2018
“In an ideal world, algorithmic decision-making would be better than that made by humans. If you don’t program your code to discriminate on the basis of age, gender, race, or sexuality, then you may think these factors shouldn’t be taken into account. In theory, the algorithms should make decisions based purely on the data, in a transparent way.
Reality, however, is not ideal; algorithms are designed by people and draw their datasets from a biased world. Hidden prejudices may lead to unintended consequences. Furthermore, overconfidence in algorithms’ performance, misinterpretation of statistics, and automated decision-making processes can make appealing these decisions extremely difficult.”
May I have a word about… football, data analysis and donkeys – The Guardian, 18 November 2018
“Manchester City are in the market for a data quality analyst, presumably to help their data insights and decision technology director. Applicants will have a “pivotal role in assisting with project work by analysing and interpreting data in relation to football players in South America. You will also be responsible for collating, inputting and profiling all player data, together with identifying and problem-solving complex data sets.””
What If Banks Were the Main Protectors of Customers’ Private Data? – Harvard Business Review, 20 November 2018
“Maybe the best-suited institutions to manage digital data are banks. In a sense, banks are already data guardians. After all, most of the money in circulation is virtual, nothing but data. They also have a long history of being at the forefront of security methods, from the development of the vault to multi-factor authentication. Moreover, banks have experience in safeguarding privacy through their commitment to confidentiality. Finally, banks tend to have more local and personal relationships with their clients in ways that might make users feel safer than trusting their data to an international corporation. And if you’re unhappy with one bank, you can always switch to another. Banks’ business model and their experience give them a comparative advantage over other businesses to become our personal data guardians.Maybe the best-suited institutions to manage digital data are banks. In a sense, banks are already data guardians. After all, most of the money in circulation is virtual, nothing but data. They also have a long history of being at the forefront of security methods, from the development of the vault to multi-factor authentication. Moreover, banks have experience in safeguarding privacy through their commitment to confidentiality. Finally, banks tend to have more local and personal relationships with their clients in ways that might make users feel safer than trusting their data to an international corporation. And if you’re unhappy with one bank, you can always switch to another. Banks’ business model and their experience give them a comparative advantage over other businesses to become our personal data guardians.”
Force Google, Apple and Uber to share mapping data, UK advised – Financial Times, 20 November 2018
“The UK government should force Google, Apple, Uber and others to share their mapping data so that other companies can develop autonomous cars, drones and transport apps, according to an influential campaign group.
The Open Data Institute, co-founded by Tim Berners-Lee at MIT and Nigel Shadbolt, artificial intelligence professor at the University of Oxford, warned on Tuesday that big tech companies had become “data monopolies”.”
Flawed US Postal Service API exposes data on 60 million users – IT Pro, 22 November 2018
“A significant flaw has been discovered in the website of the US Postal Service which exposed near real-time data about packages sent by commercial customers and, in some cases, allowed users to change information belonging to other account holders.”
The dos and don’ts of data – The Economist, 23 November 2018
“There is a new beast roaming the information landscape—the “data trust”—though exactly what this means is still an open question. Is it a legal entity like a financial trust, with a fiduciary? Or something less elaborate, and less tested in the courts?”
Data aggregator leaks 9.3m people’s personal information – IT Pro, 23 November 2018
“The latest data exposure comes courtesy of Adapt.io, a company which offers sales and marketing professionals access to a database of (according to the company’s website) 37 million business contacts, including 2.7 million C-level and 3.8 million vice-president and director-level contacts.”
Big data in the balance – SciDevNet, 23 November 2018
“This past summer, the EU launched an initiative to track migration in real time using big data ‒ the masses of machine-readable data each one of us leaves behind every time we use an electronic device.”
LinkedIn violated data protection by using 18M email addresses of non-members to buy targeted ads on Facebook – TechCrunch, 24 November 2018
“LinkedIn, the social network for the working world with close to 600 million users, has been called out a number of times for how it is able to suggest uncanny connections to you, when it’s not even clear how or why LinkedIn would know enough to make those suggestions in the first place.
Now, a run-in with a regulator in Europe illuminates how some of LinkedIn’s practices leading up to GDPR implementation in Europe were not only uncanny, but actually violated data protection rules, in LinkedIn’s case concerning some 18 million email addresses.”
UK parliament piles pressure on Facebook over data policies – Financial Times, 25 November 2018
“Confidential Facebook documents seized by the UK parliament could be published this week as members of parliament continue to ramp up pressure on the technology company’s executives following the Cambridge Analytica scandal.
Damian Collins, chair of the digital, culture, media and sport select committee, told the Financial Times that “very important and very relevant” documents had been obtained from the founder of Six4Three, a US app developer, who was on a business trip in London last week.”
Corvus Insurance lands a fresh $10 million to turn sensor data into actionable info for its food and pharma customers – TechCrunch, 26 November 2018
“Corvus Insurance, a two-year-old, Boston-based insurance company that uses data across more than 50 criteria to predict and prevent losses for its corporate customers in the food and pharmaceutical industries, has attracted $10 million in funding from .406 Ventures and Hudson Structured, with participation from Bain Capital Ventures.
The company had previously raised $4 million seed funding led by Bain.
It’s an interesting company. Much of the data it extracts comes from Internet of Things sensors that can be used to predict the likelihood of a claim, including pressure on a roof owing to the weight of snow, for example. But it also relies on other data from all around, including videos, mobile phones and social media and turns them into tools for risk management.”
Collecting passenger data can help airlines’ customer service and profitability soar, but as Cathay Pacific hack shows it can be a risky strategy – South China Morning Post, 25 November 2018
“Data has the potential to be valuable cargo to airlines but the cyber hacking crisis that engulfed Cathay Pacific Airways in October has shown there is considerable risk along with reward.”
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