Data not as scary as we might believe - expert

  • 20/04/2016
Data not as scary as we might believe - expert

Data is the latest currency and it's how you can be targeted by businesses who know exactly who you are and exactly what you like to buy.

And now a new service has been launched this week to make it even easier for Kiwi companies to find out about you.

But it isn't as scary as what it sounds.  In fact, Figure.NZ chief executive Lillian Grace says a general misunderstanding around the word data and what it means has created paranoia among the public.

"Most people still think that data is something that people buy to top up their phones? So all the experts are talking about big data and open data and the public don't actually understand what that means."

Ms Grace says the type of data that Figure.NZ compiles is to aid average kiwis understand the world around them better.

"A community group trying to understand a targeted group that they want to work with. Or Maybe you're a seven-year-old writing a story about getting a new Labrador on the weekend and there are 46 in your town. It is just a new lens of understanding our history and our country."

Ms Grace also says the compilation of data and easy access to it, is critical to growing local businesses.

"It is for them to understand the context in which they are working in. The businesses at the moment tend to only know their financial data, so they know how they perform and how to benchmark that -- they don't actually tend to understand the context in which they are operating."

"Say you're a florist, and you may look at some normal flower retailing data. But the actual thing that matters is what the trends are at funerals in your town and how does that have implications for the decisions that you're making."

The latest data discussion comes after Finance Minister Bill English announced the Government was looking at bringing together the data held by 10 agencies so that more can be known about Kiwis.

The agencies include health, education, social development, justice and Inland Revenue. It will create what he calls a "data highway".

Mr English said he'd give government workers access to it, even on their smartphones, so they can draw information on people from multiple sources before making decisions that affect them.

Newshub.