Posted on: Thursday 3rd of November 2011
Today the following businesses announced their commitment to the midata principle of releasing customers’ data back to them in a portable electronic form: Avoco Secure; billmonitor; British Gas; Callcredit; EDF Energy; E.ON; Garlik; Google; Lloyds Banking Group; MasterCard; Moneysupermarket.com; Mydex; npower; RBS; Scottish Power; Scottish Southern Energy; The UK Cards Association; Three; and Visa.
At Ctrl-Shift we’ve been talking about midata for a while now, partly because we’ve been advising the Government on the programme, but mainly because we genuinely believe it marks the beginning of a fundamental shift in the way companies and customers manage their relationships with each other. It’s a symbolic tipping point. More than that, it’s a shift of gear from ‘talking’ to ‘doing’.
Practically speaking, next steps will focus on the development of personal data inventories (PDIs) which explain to customers the types of data the organisation has on them, plus common ways for individuals to see some, if not all, of this data. This paves the way for actual data release.
Speaking strategically, over the coming months and years, a new and different type of information sharing relationship between indivuduals and organisations will transform how organisations’ customer facing operations, including market research, marketing, sales and customer service, work. This shift won’t be confined to the companies named above. They’re just the first wave. Releasing data back to customers, and sharing information with them, will become the norm for all companies.
What’s more, this isn’t just a UK thing. Announcing the publication of the midata vision today Consumer Minister Ed Davey said: “This is the way the world is going and the UK is currently leading the charge.”
Mr Davey went on to note that “Currently, most consumer data is held by service providers, meaning only one side of the customer-business relationship is empowered with the tools of information management. midata seeks to redress that balance.” For this to happen, individuals need a range of services to help them collect, protect, understand and use this data. This is a fantastic innovation opportunity.
To understand more about the vision for midata and to catch-up with how some leading businesses are responding to the challenge, you can attend Ctrl-Shift’s event, ‘to hoard or to share: midata and the personal data revolution’. We’ve a great line-up of speakers including Callcredit, Google, Professor Nigel Shadbolt (midata chair), Cabinet Office, Experian, Barclays, Consumer Focus, Reevoo, Mydex, billmonitor and Which?. Prices are £495+ VAT for one person, or £795 for two. To book your place click here.
To coincide with the public launch of midata, we’re also publishing our research into the emerging Personal Information Management Services (or PIMS) market. The full report costs £495+VAT, but you can see the introduction to the report attached here Ctrl-shift PIMS ReportSummary