Data Republic Whitepapers
The Australia and New Zealand Banking Group (ANZ) is one of the largest financial institutions in Australia. As a highly regulated financial services provider, ANZ has an absolute priority on data security. ANZ wanted to strategically innovate and drive internal exploration of its corporate data. The bank knew that it can make good business sense for organizations to share data to drive better business decisions. Data exchanges happen frequently when relationships are already set up, such as credit bureaus providing credit assessments to lending institutions evaluating a loan application.
The first step in the journey towards bringing data onto the balance sheet is for businesses to evaluate and treat data as an asset, as they would their brand. The aim of this paper is to describe how businesses can determine the market price of their data assets when used by other organisations and the resulting total opportunity for revenue derived from data commercialisation.
In today’s hyper-connected digital world, access to data has become a top priority for organizations of all sizes. The ebook you’re reading is designed to help shift perceptions around this status quo. It describes how organizations can create new data governance structures that define the collection of useful data, ensure its secure storage and position it as a strategic asset. It also details how businesses can begin setting up systems within their own walls to investigate this data, uncovering new insights independently
Managing an organisation without all the adequate data about existing and potential customers, citizens, markets and other critical areas is much like being that triathlete with flawed equipment. With no way to accurately view and characterise your audience, most businesses struggle to effectively connect them with the goods and services they require. Data sharing and commercial data exchange (DX) is a powerful process that, when implemented correctly, can illuminate the best path for your business to join the data economy. This guide introduces the path to internal and external data sharing, outlining the benefits it can bring to business and government entities, and offers a basic primer on how to integrate this activity into an organisation. We will also explore how secure data exchange can turn the data your organisation collects into a new revenue stream, thus joining the rapidly expanding data economy.