The business case for ensuring that one of your most important assets is safeguarded.
Data analytics has become one of the most important technology engines for driving strategy creation and validation. It’s self-evident that sophisticated analysis of vast troves of rich data will deliver a better outcome than simple analysis on sparse and unstructured data.
In the corporate world, data is an asset that is closely guarded by its respective owners. Information about how customers behave is the life blood of any company. Exposing it to competitors could be catastrophic on several levels. These same customers have rights – under the laws of Australia and elsewhere, they’re entitled to privacy, and the security of knowing their confidential information won’t be shared.
That said, companies also understand that the true benefit of data analytics comes from triangulation – taking three or more disparate data streams to uncover and test insights. This is not a new concept – in science and academia, triangulation in data analysis is widely adopted for refining and testing results.
We’re increasingly seeing diverse organisations collaborating by contributing their data to an analytics partnership. The more data streams analysed in a single exercise, the greater the detail and quality of the results. This could be substantially enhanced by using the data without stripping its identifying characteristics – the very things that ultimately make it exceptionally useful. With companies chasing ever-more granular insights, the need to retain personally identifiable information (PII) is becoming increasingly pressing.
The conclusion is clear. Any organisation wanting to enhance the value of its data needs to team up with others, but in an environment that safeguards the ownership of and personal information in that data. In order to use rich data that includes personal details, it needs to ensure the privacy of the underlying consumers, and fully meet stringent regulatory and governance requirements.
This is the fundamental premise of the IXUP model. Multiple parties use our software platform to conduct secure data analytics on their respective data streams. Secure in the knowledge they are fully compliant with data governance regulations as well as protected against the threats of today’s digital world, so they can focus on unearthing unparalleled insights using our unique matching technology.
To find out more about our secure data analytics platform, contact us today.