Friday, April 15, 2011

Better Choices Better Deals

BIS has published a paper which outlines how customers can benefit from using their data to optimise their shopping. They quote the many loyalty cards and tools which are already out there. They are creating the mydata initiative where customers can access their own data and find the best deals based on their usage.

I am quote skeptic about this scheme.

  1. Data is collected for a reason by specialised companies which exploit the data (not the customer), it is their asset.
  2. Data formats from different providers/retailers are vastly different and will never be brought under one roof, if it will the data will lose its richness. (A good example is the number of households quoted from Boots, Tesco and Nectar - they all use different definitions of what an active household is)
  3. There is a cost involved and it is not clear who will carry that.

Nevertheless I like the idea that customers have more rights to accessing their own data.

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