‘We’re fight­ing for data to be a change maker and not just a king maker’

Yorkshire Post - Business - - FRONT PAGE - Zan­dra Moore

In the past three months alone, we’ve seen count­less main­stream news sto­ries on data and, let’s be hon­est, very few of them pos­i­tive. But let’s think about this for a mo­ment, the data econ­omy: Face­book (for ex­am­ple) doesn’t phys­i­cally make any­thing, there are no lo­gis­tics in­volved, it’s free for ‘con­sumers’, it’s avail­able world­wide and the in­for­ma­tion it holds is ar­guably the most valu­able com­mod­ity to any busi­ness – it’s all data.

It re­cently lost 20 per cent of its value but that barely made a dent in Mark Zucker­berg’s Forbes bil­lion­aire list­ing (he went from fourth to sixth in one day), and why not? Be­cause data is king.

Or­gan­i­sa­tions across all sec­tors are now deal­ing with huge vol­umes of data, and we’re in­creas­ingly see­ing peo­ple re­alise just how valu­able it is, whether it’s in a data­base, or sen­sor data, as man­u­fac­tur­ing busi­nesses move fur­ther to­wards au­to­ma­tion.

Busi­nesses look­ing to gain mean­ing­ful in­sight into their op­er­a­tions by un­der­stand­ing their data of­ten find it to be more dif­fi­cult than it should be.

And it’s too ex­pen­sive to bring mul­ti­ple sets of data to­gether while need­ing a data sci­en­tist to in­ter­ro­gate it. Re­ally, the peo­ple within or­gan­i­sa­tions are best placed to cross-ex­am­ine their own data. As the do­main ex­perts, their knowl­edge and un­der­stand­ing is unmatched – so it comes down to ac­cel­er­at­ing the ac­ces­si­bil­ity of that data.

We need to en­sure that it can be ac­cessed in real time by the peo­ple who can af­fect real change. The im­por­tant in­sights gained from data means busi­ness de­ci­sions are based on data anal­y­sis.

Pan­in­tel­li­gence started life as a fi­nance tech­nol­ogy com­pany that built end-to-end lend­ing sys­tems for big fi­nan­cial in­ter­me­di­aries like banks. In fi­nance, peo­ple have been us­ing data an­a­lyt­ics to in­form and au­to­mate de­ci­sions for a long time. We re­alised we could take this tech­nol­ogy out­side the fi­nance in­dus­try and al­low a wider au­di­ence to ben­e­fit from the tools. Our prod­uct has the in­tel­li­gence to pro­vide data in­sights, au­to­mated de­ci­sion­ing, and pre­dic­tive modelling, and we’re bring­ing an af­ford­able model to SMEs in sec­tors such as ed­u­ca­tion and health­care. It doesn’t move any data ei­ther, so it was GDPR com­pli­ant be­fore GDPR ex­isted. In the busi­ness world, ac­cess to this data can have a mas­sive im­pact on fi­nan­cial growth; in the pub­lic sec­tor, it can help iden­tify peo­ple at risk – it has even helped save lives. For ex­am­ple, the soft­ware can help ra­di­ol­ogy de­part­ments iden­tify safe lev­els of ex­po­sure to ra­di­a­tion and adapt their prac­tices ac­cord­ingly. Pan­in­tel­li­gence has trans­formed the way peo­ple use data to im­prove or­gan­i­sa­tional per­for­mance and is work­ing to trans­form what data an­a­lyt­ics com­pa­nies should be – a force for good – by break­ing down the bar­ri­ers and mys­tery around data tech and un­leash­ing the true value of data.

The health­care sec­tor uses data to pre­dict which pa­tients are likely to miss med­i­cal appointments, the ed­u­ca­tional sec­tor can iden­tify stu­dents likely to miss a class and are more likely to drop out, and the fi­nance sec­tor can see which trans­ac­tions are most likely to be fraud­u­lent. Iden­ti­fy­ing change in this way is im­por­tant as it helps de­ci­sion mak­ers man­age risk and un­der­stand their cus­tomers bet­ter to drive en­gage­ment.

Only by putting data into de­ci­sion mak­ers’ hands in­stead of ‘techies’, can it be re­ally un­der­stood and acted upon.

It’s all about the dou­ble bot­tom line; data an­a­lyt­ics for so­cial change along with fair com­mer­cial com­pe­ti­tion and for or­gan­i­sa­tional ben­e­fit, im­prov­ing out­comes for learn­ers, pa­tients and those with­out big bud­gets.

We’re fight­ing for data to be a change maker, not just a king maker, and as a value-led busi­ness with a so­cial con­science, we choose to put the power in the hands of the many.

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