Insights

Open data, from pain to profit

Clifford McDowell

Open data should be the ultimate treasure trove of public business information, a machine-readable version of all data published by central government, local authorities and public bodies designed to make government transparent and accountable for their actions, but also to support technological innovation and economic growth by enabling third parties to develop new kinds of digital applications and services.

This Data is the most accurate, detailed and deep data there is out there. But the reality of using it is far from the data utopia promised.

The problem:

Despite having a massive range of data available, the data is produced by thousands of different departments, local authorities, and Quasi-Governmental bodies, so there is no-unifying schema… and no way to easily use or integrate that data as a single source.

The effort it would take an organisation to acquire, match, link, clean and de-duplicate all of that data makes it effectively useless to all but the most massive companies, who don’t have a need to do it as they already control the supply of data anyway, so the dream of open data is just that… a dream… until a new entrant innovates in the area and disrupts the Status Quo

Hard Graft and Algos to the Rescue!

It would take a human years to manually merge all of the different open data sets, handcrafted algorithms and a deep understanding of the data can reduce it to a few minutes. These kinds of laborious and detail-oriented tasks are why data engineers were born.

Utilising human understanding of the data context and many years of data pipeline development to ingest, observe and re-structure the open data available, Doorda have been able to convert the ‘Broken Data Pipes’ of government data, and wrangle them into a single easy to consume data pipe available via a single API or as a Hosted Database.

Now ANY and ALL businesses have access to a level playing field when it comes to data about Business, Regulatory notices, property, Commercial Locations, Geo-Demographics, Public procurement, and many other government data points.

What Does that Matter?

Most Open Data is opinion free making it a more trustworthy source whilst providing wide coverage and more detailed information. Using open data vs traditional suppliers is like upgrading to 4K from Black and White… you get so much more information and you can see the world more clearly.

Whether you’re a hot AI startup building brand new AI risk models, a multinational commercial insurance broker pre-filling quote forms with company data, or a business simply trying to acquire more customers… you can now create a much deeper and more accurate picture of the world around you, life just got a whole lot easier and cheaper.

Commercial Finance and Risk

Quickly obtain an improved summary of a company, its trading premises, property assets, controlling parties, public-sector contracts and receipts in order to inform your conclusions and decisions.

Customer Acquisition

The better your picture of potential customers, the better your customer acquisition process and results. Open provides you with a sophisticated, up-to-date view of potential consumers and the areas they live as well as companies and the places they do business so that you can capitalise on the opportunities.

Carry out sophisticated customer segmentation to better identify target markets, improve your marketing response models, refine your risk assessments and provide speedy, frictionless onboarding.

Popular use cases include:

  • Customer Segmentation
  • Improving Marketing Responses
  • Risk Assessment
  • Optimise Customer Onboarding

Customer Management

The more you know about your customers, the better you can serve them and the more revenue they can generate for you.

By combining your data with local demographicsbusiness health and property your business can improve its predictive models, draw better conclusions and make better decisions.

Construct a more complete model of your customers in order to maximise potential revenue, monitor for risk events, and optimise your recoveries.

Popular use cases include:

  • Revenue maximisation
  • Risk Monitoring
  • Debtors Recovery Optimisation

Business Planning and Supplier Assessment

Use broader, more complete data to improve location planning, supplier assessment, and competitive intelligence. Carry out quick contingency planning for local suppliers.

Consider multiple extra data points to quickly understand the suitability of property or area.

Supplier Assessment is very similar to customer risk, with the added advantage of being able to find and assess alternative suppliers by joining this data to the foreign trade and business locations data also available from Doorda.

Popular use cases include:

  • Location Planning
  • Supplier Assessment
  • Competitive Intelligence
  • Contingency Planning

Commercial Property

The more you know about individual properties, their use, their occupants, the surrounding area, and the local population, the better you can draw conclusions and make recommendations.

Our uniquely detailed and reliable property data will allow you to uncover and improve win-rates for rate appeals, provide broader evidence-based investment/disinvestment analysis, and improve location planning.

Popular use cases include:

  • Investment/disinvestment analysis
  • Rates Appeal
  • Recoveries optimisation

The future of Open Data Is Bright Again!

Open Data has long held the promise of a new kind of data that business can use to improve government, society, and business. To date it has a had limited impact on business… but now Doorda has made it available to everyone from NGO’s to Massive enterprises the future is exciting again, and we’re waiting with bated breath to see all the weird wonderful and game-changing tech that will undoubtedly be built on top of open data with Doorda’s APIs and Hosted Data products.