Hub & Spoken.

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In this episode, Jason talks to Lisa Allen, the Director of Data and Services at Open Data Institute about how data assurance and trust can create a world where data is used to create a greater impact outside an individual organisation.

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One big message

In today’s technology-driven world, data is a valuable asset that organisations must protect and manage responsibly. However, the fast pace of technological advancements and the increasing amount of sensitive information being collected and stored can make it challenging to maintain trust in data. This lack of trust can have serious consequences for both individuals and organisations.

00:25 Lisa’s background in data and the mission of The Data Institute

01:25 Transferring private sector data knowledge to the public sector 

02:37 Why data should be transparent

04:21 What is data trust

08:04 Looking at the trust levels of different industries

12:20 The impact of digital resignation and why regulation is so important

16:04 What standards can be put in place to help with trust

19:12 What is data assurance

20:30 How a lack of data trust affects an organisation

24:48 How data can be validated when parts of it come from different sources of varying trustworthiness

26:28 Why organisations need to keep communication open when sharing data

The Digital Resignation: restoring trust

Despite the importance of trust in data, many people are resigning themselves to the fact that their data will not be used well. This digital resignation can be seen as a lack of trust in organisations and their ability to use data responsibly. 

According to a recent study, health data is trusted by 59% of people, government data by 38%, and social media data by just 5%. This highlights the importance of building trust in data, particularly in sectors such as healthcare and government where sensitive information is collected and used.

Creating safeguards to help with data trust

Creating safeguards for data and organisations is an important step in building trust with customers and stakeholders. By implementing security measures, organisations can protect sensitive information from unauthorised access, which helps to prevent data breaches and other security incidents.

In addition to technical safeguards, organisations should also consider ethical considerations and implement codes of conduct that outline responsible data practices. This can include guidelines for collecting, storing, and using personal information, as well as standards for data security and privacy.

Certifying data and code of conduct can also play a role in building trust with customers and stakeholders. By demonstrating that the technology and data management processes used by an organisation meet specific standards and criteria, organisations can provide a level of assurance that they are using data in a responsible and ethical manner.

What happens when there is a lack of data trust

There are several consequences that can occur  when there is a lack of trust in data. For example, one of the most significant consequences of a lack of data trust is the potential for marginalised data. This occurs when data collected and used by organisations is biassed against certain groups, such as minorities. This can lead to unfair treatment and discrimination, and can also undermine the legitimacy of the data and the organisations that use it.

In addition to its impact on individuals, a lack of data trust can also have significant economic consequences. Research has shown that when data is shared between social and public sectors, it can increase the gross domestic product (GDP) by up to 1.25%. However, this potential economic benefit is hindered when there is a lack of trust in the data being shared.

The complexity of data sharing increases when dealing with global challenges such as COVID-19 and global warming. These issues span many different facets and require collaboration and data sharing between multiple organisations and sectors. However, without trust in the data being shared, it becomes difficult to make informed decisions and to effectively address these complex challenges.

However, just because an organisation is trusted does not mean it is trustworthy. For example, the Volkswagen carbon emissions scandal highlights the importance of verifying the credibility and reliability of data, even when it comes from a trusted source. This is why organisations must work to ensure that the data they collect and use is accurate, reliable, and trustworthy.

Consolidating data to build trust

By consolidating data, organisations can bring together diverse data sets from different sources, providing a more comprehensive and accurate view of the information they need. This allows organisations to make more informed decisions, and improves their ability to understand and analyse complex data.

Moreover, by building trust in data, organisations can ensure that the information they collect and use is reliable and accurate. This helps to eliminate the risk of biassed or misleading data, which can have serious consequences for organisations, especially in sectors such as healthcare, finance, and government where the stakes are high.

The benefits of consolidating data and building trust go beyond just improving the accuracy and reliability of information. By doing so, organisations can unlock the potential economic and societal benefits of data sharing. For example, studies have shown that when data is shared between social and public sectors, it can increase the GDP by 1.25%. Data sharing also helps organisations collaborate more effectively, allowing them to leverage their collective knowledge and expertise to solve complex problems.

Conclusion

Building trust in data helps to eliminate the risk of biassed or misleading information and ensures that the data being used is reliable and accurate. This not only improves the quality of information but also unlocks the potential for economic and societal benefits, making data a valuable asset for organisations looking to innovate and grow in the digital age.