“Companies have to work together to unlock data’s limitless potential, while also protecting and respecting sensitive customer information” - Brian Lesser, CEO and Chairman of InfoSum.
Today’s report from Winterberry Group, Collaborative Data Solutions: The Evolution of Identity in a Privacy-First, Post-Cookie World, not only pinpoints data collaboration as a vital ingredient in the future of the marketing industry, it also shines a spotlight on the need to ensure that any data collaboration solutions build trust not only between companies but also between those companies and their consumers. To achieve these dual goals, any new collaborative solutions must be privacy-by-design, putting the interests of people first.
According to the Winterberry Group, 64.3% of US and 45.5% of UK companies are currently collaborating with other organizations, and a further 16.7% and 24.2% have plans to do so. This reflects a growing trend that InfoSum has helped pioneer, with more and more customer-centric companies looking to collaborate with other data-rich businesses.
But with great opportunity comes significant challenges. In the case of collaboration, these challenges often revolve around a lack of trust. Winterberry Group identified that trust is enabled through a combination of permission, provenance and governance. To achieve all three, it's important that companies move away from solutions that are dependent on the centralization and pooling of personal data (PII), and adopt solutions built instead upon the non-movement of data.
The InfoSum solution, categorized as a Technical Data Environment in the Winterberry Group report, enables any number of companies to collaborate across any multitude of data sets without any movement of personal data between companies. This truly privacy-first approach unlocks powerful collaborative insights that can be used for planning, activation and measurement - while fully respecting the privacy of consumers at every step.
Emerging data collaboration themes
A key component of the Winterberry Group report are the six primary themes that will drive the infrastructure of marketing and advertising data collaboration. These are set out below along with a summary of InfoSum’s approach to each:
A final thought on data collaboration
One of our core values at InfoSum is ‘empowering collective genius’ by which we mean that the sum of data is greater than its individual parts and the world can be made better through the enablement of frictionless collaboration. By ensuring companies always retain full control of their data via InfoSum’s decentralised infrastructure, which is flexible and lightweight to implement, we are enabling infinite collaborative opportunities for companies.
Whether you’re already collaborating on first party data or looking to increase your collaborative opportunity in 2021, we would invite you to reach out to learn more about how you can collaborate with like-minded companies and deliver a better experience to your customers, all without having to sacrifice control of your data.
Download a copy of the Winterberry Group report here.