The General Regulation on Data Protection, which will be fully implemented in May 2018, not only establishes a reinforced framework for privacy protection, but also delimits clear rules of the game for the development of businesses based on - or support the data processing. Precisely, how to turn that information into growth opportunities and business development was the thread of the papers that were developed in the Chief Data Officer Day held yesterday in Madrid.
"Predicting based on the data is fine, but if we are not able to trigger initiatives based on those predictions, we will not optimize the investment," explained David Castellón of EY. According to the firm's studies, solutions based on advanced data analysis have allowed companies that have put growth rates above 15 percent.
As an example of the potential offered by an adequate management of the information, the case of the company of rent of vehicles Goldcar, that in two and a half years has been able to multiply by more than twice its value through a new model of treatment of information. "Our problem is the queues, how do you serve 20 customers who arrive on the spot with an average of eight minutes per person without any waiting for hours?" Through a data system that has allowed us to save a 35 percent of the waiting time, "said Jaime Soriano, Chief Operating Officer of the brand.
The speakers also stressed the need to find good data professionals and systems engineers. "In addition, it is not easy to keep them," said Óscar Caballero, director of data for Orange. His counterpart in Banca March, Andreea Niculcea, affected the problems that his sector has in attracting these employees. "We have the problem that we are not attractive for these profiles. We have to change the image we design and create an attractive environment for them, and even then, once you have them, keeping them is the hardest part."
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