Posted on: Wednesday 22nd of August 2012
There has been some great BBC broadcast news coverage today of the midata consultation. Hopefully it will raise awareness of the importance and opportunities of the programme and its game changing potential for all UK organisations.
Liz Brandt, Ctrl-Shift CEO, was interviewed on Radio Five Live’s ‘Wake Up to Money’ programme. It was short and sweet and you can listen to it from 26.40 mins into the programme.
Liz, who has been advising the Government on its midata strategy from its inception, emphasised the empowering opportunity of midata for consumers – enabling them to use new apps, tools and personal information services to make better decisions, such as insight into what they are eating and their health by using an app to analyse weekly food purchases, through organising all their financial information in one place so they can analyse it better, and understanding energy usage.
She said, “In the early stages of midata everyone assumed that Government was going to take control …actually what it is saying is that consumers are going to be in control, you are going to be in control of this…it means you can find better deals, it means you can manage your life more effectively and be more informed about what you are doing. It’s all about empowering the consumer.” Liz highlighted the burgeoning market in the UK for services that will help individuals use their own data once they have hold of it, such as the new market for Personal Data Stores which our research estimates will be a market worth £1bn in the UK alone by 2017.
BBC Radio 4 Today programme carried an interview with the Editor in Chief of Computer Weekly and John Hayes, Minister of State for Further Education, Skills and Lifelong Learning. The Minister talked about how midata makes information open and accessible to people creating new insights. He illustrated that it helps to address the imbalance of power where companies have collected data about customers and used this data to further their own purposes for so long.
BBC News online reports on the Government’s list of examples showing consumers and businesses what services could be possible in a midata- enabled world.
Ctrl-Shift’s press release about midata says that with the consultation the Government is fundamentally changing the relationship between customers and companies, and how it will help put UK organisations ahead of the field in this rapidly developing market. It says, “Giving consumers the opportunity to use transaction data (records of purchase, usage of services and so on) to understand their own consumption behaviours and make better decisions opens up all sorts of new, valuable opportunities for businesses by giving them the chance to reinvent their relationships with customers.”
To read further analysis of the midata consultation and why it makes sense click here.