IDENTIFY NEW OPPORTUNITIES  Technology

How can we extract new forms of value from personal data?

In a six-month consortium with BBVA, Intel and Vodafone, we explored the personal data economy to redefine the real value of data to people and businesses.

Since this project, we have helped numerous companies across industries to identify differentiated, customer-centred data opportunities and strategies.

CHALLENGE

People are generating more and more data in their daily lives. This data will grow increasingly personal and contextual as the digital and physical worlds become more interwoven.

Rather than treating personal data as a currency or commodity to be sold, our consortium members wanted to explore new forms of value that can be derived from personal data.

APPROACH

We conducted ethnographic research in six global locations. This fieldwork included expert interviews and roundtable discussions with thought leaders and practitioners in the personal data space.

We then held a two-day workshop to identify strategic opportunities for each participating company and to collaborate to address platform-level challenges.

This multi-client workshop was followed by client-specific workshops to apply learnings to proprietary opportunities and ongoing initiatives.

IMPACT

We created tools and guidelines that helped companies go beyond selling anonymised, aggregated data. We enabled them to design and deliver services that use personal data to provide real value to individuals.

These tools have led to many product and service concepts that differentiate client organisations from their competitors and bring them closer to their customers.