The amount of data we collect is growing at an astonishing rate. 650% growth is anticipated by 2020. And the variety of data we can gather has also changed. We can trace human behaviour not just in a simple transaction but through the journey that they took to make that decision. We can assess an individual. We can widen it out. We can connect other data and big data sets to look for broader patterns. We can analyse it for insights.
Yet alongside the growth in data comes an increasing awareness about its meaning, power and value. What is important, is that we remember: right at the heart of all of this data, sits the individual.
Increasingly, individuals are questioning what data is held, how their data is being used, and why they’re not getting value from their data. This concern turns to distrust. Especially when organisations are unable to be transparent, because they don’t have the systems and processes in place.
“78% of consumers think it is hard to trust companies when it comes to the use of their personal data.”
Orange, The Future of Digital Trust, 2014
At MyLife Digital we believe it’s time the individual was in control. That their consented permission sits at the heart of how organisations collect, connect, analyse and share data. Our thinking is aligned to the new General Data Protection Regulation (GDPR) which comes into effect on the 25th May 2018.
It’s never been more crucial to understand your current consent position. In May 2018, the newly passed EU General Data Protection Regulation (GDPR) will change the relationship between organisations and customers in the use of their personal data.
A Data Consent Audit means you can explore the potential organisational impact of consent through various scenarios. Removing any deeply lapsed contacts from the database, and ensuring your systems are capable of holding future consents.
For more information about our Data Consent Audit click here for a downloadable pdf.
But, utilising the Consentric platform is so much more that complying with GDPR. It’s the way forward to forming a relationship that’s based on trust. A relationship forged in the new data-driven economy. And with this trust comes competitive advantage.
Open new revenue streams. Create efficiencies. Ensure compliance. Deliver shared value.
Informed insights from informed consent
“In an increasingly digital society, personal data has become a new form of currency. The biggest challenge for political and business leaders is to establish the trust that enables that currency to keep flowing.”
Boston Consulting Group, The Value of Our Digital Identity
Consented data, real-time data capture and machine learning brought together. One place for all Personal Information Management. That’s secure and convenient. That grows with you. That’s Consentric.
Our Consentric Platform has consent at its heart. We call it a trust platform, because that’s what we deliver. Consentric opens up a way to communicate and engage with your individuals. Where personal permission is sought and consents are respected. Where data can be analysed and insights delivered. Where value is unlocked and potential realised. Where trust is built, leading to a committed and loyal customer base.
To do this, you need a safe platform you can trust. That’s why we partner with UKCloud, who are the best in their field. They’re trusted to deliver the largest public sector projects. They’re specialists in handling official and sensitive data that is hosted in highly secure and highly resilient UK data centres. You know your data never leaves the UK.
Security, UK sovereignty, authentication and privacy policies are built into our Consentric platform. Data access, visibility and editing rights are tightly controlled with explicit configurations, which are transparent to our users. That’s why your user can be in control and with fully ownership of his or her own data.
Be part of the digital transformation. Be transparent. It’s time to create the new economy with personal data as the new currency and trust the credit rating.
“At MyLife Digital, we deliver trust. More than products and services, we’re about communicating differently. Developing new and deeper relationships with your market. We enable people partnerships that gain you powerful insights. That add value. To the individual, to the organisation and to society as a whole. So everyone benefits. That’s the shape of the new digital economy. One that’s based on trust.”
John Hall, Chief Executive Officer, MyLife Digital Ltd
Permissions is part of the MyLife Digital Consentric platform.
Permissions enables you to increase customer trust by allowing the individual to manage their own consent preferences. More importantly, it demonstrates compliance with the new tougher GDPR.
Permissions is a cloud-based offering which integrates with existing systems to capture, store and update individual customer data consents. Permissions is based on the 5W framework which captures what (data), who (has access), why (the purpose), where (channel) and when (timestamp) information.
For more information about Consentric Permisisons, download our PDF.
For more details of the range of products and services available through our Consentric Platform visit consentric.io