London’s first charter ‘much needed’ as data is increasingly a corporate asset, says specialist
Yesterday it was announced that London First will be launching the London Data Charter, which sets out the guiding principles for private and public sector data collaborations.
The initiative aims to create commitment from signatories to be a part of London’s data ecosystem, by opening and sharing their data to define the collaboration and data-sharing principles for organisations in London.
Discussing the initiative with CityAM, data integrity specialist Amy O’Connor, who is chief data and information officer at Precisely, called the charter a “much needed boost” for businesses and public entities in London.
“The pandemic hit London hard, [so] this initiative recognises that data is the main ingredient to helping business and government to innovate and explore new opportunities,” O’Connor said.
“Indeed, the leading companies in virtually every industry are the ones that have successfully leveraged digital transformation, and success in digital transformation is built on a clear data strategy,” she stressed.
Corporate asset
With data fast becoming one of the most important corporate assets for driving strategic advantage, integrity and verification of data become increasingly important.
“Data integrity provides a firm foundation for data analytics and confident actions and is built on four key pillars: enterprise-wide integration, accuracy and quality, location intelligence, and data enrichment,” O’Connor explained.
“Ultimately, the acceleration of digital transformation brought on by the pandemic has made the value of good data higher than ever before.”
“After all, it is essentially the backbone of any company, operating in any industry. As businesses are increasingly turning to cloud, it creates an even bigger opportunity for collecting and sharing data,” she concluded.