Story image

Xero praises power of Big Data as doors open for business...

01 Aug 14

Kiwi software accounting firm Xero welcomes the New Zealand Data Futures Forum final report – Harnessing the economic and social power of data – released earlier this week.

According to NZ MD Victoria Crone, this is a “good example of the public and private sectors collaborating to deliver positive change and sets out ambitious recommendations to derive value from New Zealand data.”

“Data has the potential to be an incredibly valuable resource for all New Zealander,” writes Crone, via the company’s official blog.

“It’s great to see the Government is focussing efforts in this area and that feedback from the private sector has been taken on board in this third paper.

“We’re now in the third generation of the internet revolution which is all about big data. This data must be managed in an ethical manner and in a way that creates value and instills trust.”

Crone believes there are “so many possibilities” when it comes to open data and its innovation potential to address business, social, environmental and community issues.

“Already, globally we are seeing great potential for data to play a role in emergency management, weather patterns, tourism, geographic segmentation and customer trends – just to name a few,” she adds.

“The opening up of London’s transport data through the London DataStore has been a good example that has seen many innovative uses developed.”

Crone believes three out of the four foundations that underpin the report’s recommendations specifically place individuals and their comfort at the forefront.

As a result, she says this indicates the Data Futures Forum has “really listened to people’s concerns” and that it is likely there will be a lot of opportunity for people to have ongoing input and feedback to ensure those foundations are upheld.

“Here in New Zealand we have an opportunity to develop a competitive advantage through a data-sharing ecosystem built on trust, control and inclusion,” Crone adds.

“The opening up of a data-sharing ecosystem has vast potential for small businesses, in terms of driving top-line growth and productivity.

“There is much value to be gained using data to analyse trends such as customer numbers, purchase behaviour and target markets.”

Crone also thinks the report’s recommendation for an Independent Data Council will help drive open data across all sectors – not just government.

And, echoing CEO Rod Drury’s belief, Crone suggests that a Chief Technology Officer could also be the “champion on the Council and drive the data agenda from a technology perspective.”

Lillian Grace, CEO Wiki New Zealand, also says the key recommendations were definitely a step in the right direction.

“We are moving into uncharted territory with data and it is too early to draw a ring-fence around what is correct use and what is not, without risking stifling innovation,” she adds.

“The Forum’s recommendation for an Independent Data Council that would be able to monitor, learn and adapt as we reach a social consensus on data use is especially valuable.

“It is an exciting time for data-driven innovation in New Zealand. There are many great efforts already underway and there is a strong willingness to collaborate throughout New Zealand’s data ecosystem.”

52mil users affected by Google+’s second data breach
Google+ APIs will be shut down within the next 90 days, and the consumer platform will be disabled in April 2019 instead of August 2019 as originally planned.
GirlBoss wins 2018 YES Emerging Alumni of the Year Award
The people have spoken – GirlBoss CEO and founder Alexia Hilbertidou has been crowned this year’s Young Enterprise Scheme (YES) Emerging Alumni of the Year.
SingleSource scores R&D grant to explore digital identity over blockchain
Callaghan Innovation has awarded a $318,000 R&D grant to Auckland-based firm SingleSource, a company that applies risk scoring to digital identity.
IDC: Standalone VR headset shipments grow 428.6% in 3Q18
The VR headset market returned to growth in 3Q18 after four consecutive quarters of decline and now makes up 97% of the combined market.
Spark Lab launches free cybersecurity tool for SMBs
Spark Lab has launched a new tool that it hopes will help New Zealand’s small businesses understand their cybersecurity risks.
Preparing for the future of work – growing big ideas from small spaces
We’ve all seen it: our offices are changing from the traditional four walls - to no walls. A need to reduce real estate costs is a key driver, as is enabling a more diverse and agile workforce.
Bluetooth-enabled traps could spell the end for NZ's pests
A Wellington conservation tech company has come up with a way of using Bluetooth to help capture pests like rats and stoats.
CERT NZ highlights rise of unauthorised access incidents
“In one case, the attacker gained access and tracked the business’s emails for at least six months. They gathered extensive knowledge of the business’s billing cycles."