DATA & ANALYTICS
What
’ s Next in Data Collaboration & Why Data Clean Rooms Are Exciting : Insights From Frank Bell
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“ The problem is there are two millionaires ,” Qureshi comments . “ Both of them want to know whether they have more money than the other , but they don ’ t want to tell the other person how much money they have .”
According to Qureshi , the solution to this problem can be found in data clean rooms : a secure environment that allows multiple companies , or divisions of a single company , to bring data together for joint analysis under defined guidelines and restrictions .
“ Data clean rooms are one of the best ways of doing data sharing without revealing sensitive and proprietary information , while also creating new business value for both sides .”
Changing how data collaboration works Data collaboration is the process of gathering and sharing data from various sources . This process typically involves combining data sets from internal teams such as sales , marketing , and customer service and empowering domain experts to contribute their unique perspectives to inform insights . Data collaboration also takes the form of data-sharing partnerships or supplementing existing data with thirdparty data sets .
“ Organisations have been doing data sharing and collaboration in many different ways ,” says Qureshi , “ but what we are doing is changing the way it is done .
“ In the 1990s there was Blockbuster video . What did you do ? You went on a weekend , got a cassette , took it home , and put it into the VCR .”
Think of this cassette as a copy of the data : the extract , transform , load ( ETL ) device .
“ The VCR extracts the movie out of the cassette , transforms it , and projects it onto your screen ,” Qureshi adds . “ Later on , those VHS cassettes became CDs . You take the CD home and it has scratches ; you put the CD into the CD drive – it doesn ’ t work . Those scratches are data quality problems .
118 July 2023