Data Pooling: What Is It And Why Does It Work?
A business’s data is a valuable tool in both a commercial and operational sense. When combined with another company’s data, this value soars, explains Steven Millward, General Manager – Product, Sales and Marketing at smrtr in this piece.
As the saying goes, ‘sharing is caring’, and when it comes to data, sharing can serve as a way to generate greater results from existing data.
This is why the idea of data pooling has risen in prominence in recent years. Data pooling is basically what it sounds like – combining together data to improve the overall effectiveness. This is otherwise known as second party data.
Given the need to develop better customer relationships, companies are now looking beyond their own customer data to create a more well-rounded view.
As well as helping businesses understand their customers, data pooling may also resolve data ‘bottlenecks’ (a point in which the flow of data has stopped), improve algorithms and enhance data access.
The reasons why companies pool data will vary. For example earlier this year, the World Health Organisation launched a data pooling platform to enable governments and businesses from around the world to share information about vaccines and health data to help address the COVID-19 pandemic.
Tourism Australia has taken to combining its own data about international travellers with data from state tourism authorities as part of the Consumer Demand Project.
“We have this incredibly rich pool of information about our target audience and about the broader traveling audience in these markets – longitudinal data that helps us understand the shifts and changes in attitudes and behaviours,” said Tourism Australia CMO Susan Coghill.
Many data sources are already pooled to prevent and reduce fraud. For example, Austrac pools transaction data from banks to prevent a range of criminal activities, and the insurance industry pools claim data to identify fraud. Like many data initiatives, concepts start at the prevention of crime and then cascade down into other applications.
Data pooling also has medical uses. ROADMAP, which aims to deliver better care for people with Alzheimer’s disease, has been sharing patient data from across Europe to offer guiding principles and recommendations on care.
Back in 2015, meanwhile, UK affiliate network Skimlinks launched a ‘data co-op’ to give businesses the opportunity to combine their respective first party data and build insights based on competitor’s data.
As well as helping participating companies form better data strategies, the data co-op also (in theory) served as a way for smaller businesses to compete with tech giants such as Google, Facebook and Amazon, who each possess an unrivalled network of customer data.
As we now know, since 2015, a lot has changed when it comes to data sharing and relevant regulation, meaning customers must now be careful about how they pool their data.
Under GDPR, if two companies are to pool their data together, both organisations are deemed joint controllers of data, meaning there is double the liability should anything go wrong. In Australia, meanwhile, the Office of the National Data Commissioner is currently working with the Office of the Australian Information Commissioner to develop a data sharing framework.
In June, a German court moved to ban Facebook from pooling user data from across its network (WhatsApp and Instagram) unless the user had been given “qualified” consent. This was seen by the court as not only a privacy issue but also an antitrust issue.
At smrtr, we know how valuable data pooling can be for organisations and help our partners supercharge their first party data by providing access to our extensive range of data for further enhancement and inclusion in combined analytics. But we also understand the shifting regulatory and ethical framework around such methods, and help our partners use data in a compliant way.
We are also trusted by our clients to securely hold and combine data to enable pooling without unnecessary technology and risk overheads.
Latest News
Enjoy A Hahn Solo… And May The Fourth Be With You
This May the fourth Hahn will celebrate alongside Star Wars fans rewarding their passion via a giant Hahn travelling solo through the sky. It’s the one day of the year when all sci-fi fans rejoice and giggle to themselves and Hahn in partnership with Thinkerbell, UM and Affinity is celebrating with an out of this […]
DMARGE Founder Unveils Creator-Led Social Media Agency Feedstar
New creator-led social media agency Feedstar to be aimed directly at Gen Zs. Well, they'd hardly want print, would they?
TV Ratings (02/05/2024): A total of 1,753,000 Aussies Witness Port Adelaide’s Defeat
Seven's AFL numbers almost double that of the NRL last night. The NRL still easily winning for ruptured ACLs.
Hotglue Cashes In With La Trobe Financial Digital Media Account
Hotglue staffers learning their cashflows from their collaterals today after nabbing La Trobe Financial's digital media.
M&C Saatchi’s Sydney Creative Lead Exits
B&T's stopping short of calling it a revolving door at M&C at the present, but there's definitely heat on the hinges.
Taylor Swift’s Music Re-Enters TikTok As Universal Pens Landmark Deal
Yes, B&T may have spent 152 hours failing to get Taylor Swift tickets, but, as you'll read here, it's all behind us now.
HAVAS Red launches inaugural Influencer White Paper
Havas Red has debuted its first influencer white paper. Unless you print it out in colour, of course.
Two Sides Global Campaign Reports Increasing Greenwashing As Organisations Focus On Sustainability
New report confirms greenwashing's on the rise. Apparently Mars' 'work, rest & play' claims also under investigation.
Aruga Launches New HQ & Changed Ownership Structure
PR agency Aruga proves Brisbane is 'so hot right now'. So hot in fact, Adelaide's had to go on anti-anxiety meds.
Delicious & American Express Partner To Launch Month Out 2024 In Sydney
Cost of living got you eating noodles prepared in the two-minute style? Why not live vicariously through this.
Aussie Ad Market Continues Decline In March
The belt-tightening in adland shows signs of a turnaround soon. Bar the belt-loosening at the all-you-can-eat buffet.
VMA Focuses On Skills And Training For Members
If there was a post-COVID hangover (bar the anti-vax ranters) it was the rise in skills shortages. Here's another one.
Nearly 90% Of Consumers Want Transparency About AI Images, Finds Getty Images Report
Study finds consumers want transparency around AI images. Couldn't care less about photoshopped magazine covers.
The National Breast Cancer Foundation Partners With VML To Boost Funds
Anyone else feel we've exhausted the office morning tea for cancer? B&T proposes the office moonshine still instead.
Perry ‘Pez’ Lazaris Named New National Hit Network Announcer
Why is it mandatory for the media to only publish the nicknames of people in radio & underworld crime figures?
Before Adland: Garry Dawson’s Journey From Teacher To Marketer
Here, the Hopeful Monsters marketer talks his shift from the classroom to the room wherever marketers congregate.
Scott Cam Urges Tradies To Prioritise Sun Protection
The Block host promoting sun protection to tradies. Also, don't try getting into the RSL after 6pm wearing high viz.
PubMatic Study: Advertising On Retail Media Is 50% More Effective Than Social Media
New study finds retail media 50% more effective than social. B&T says two-for-one Tim Tams trumps the lot.
From MOWING to life GROWING: Jim Penman launches ‘Life Coaching’ services
Can't decide on getting the hedges trimmed or finding a deeper meaning to life? You're in luck with this new venture.
Budweiser Brazil Turns Songs That Name Drop The Iconic Brand Into Spotify Ads
It's strange that Budweiser never found a market among beer-swilling Aussies. Then again, neither did the fluffy duck.
Effie Worldwide Strengthens Board With 6 New Members
B&T hopes everyone's wearing their Maseur sandals at the Effies, as it's standing room only at the next board meeting.
Special Enlist A Penguin Named Nigel In Latest Energy Campaign For Contact
Special unveils Nigel the penguin in work for energy provider Contact. Apparently Percy the peacock was booked.
Anya Taylor-Joy, Chris Hemsworth & George Miller Ignite Sydney For Epic Mad Max Launch
The Mad Max film franchise is Australia's cinematic gift to the world. That & Chris Hemsworth's near perfect cheekbones.
IAS Launches First-To-Market Integration With Roblox To Provide 3D Immersive Measurement
Always thought you could do with better 3D immersive measurement? Happy days are ahead here.
Fast And Furious: Top Gear Australia Launch Thrilled Motorheads, Car Entusiasts And Guests
B&T is still no closer to knowing who the new Stig is, except that she is a woman and a ridiculously fast.
TV Ratings (02/05/2024): Seven’s The 1% Club Wins The Night
The 1% club did not live up to its name when it comes to TV ratings last night.
TRA Welcomes Raft Of New Hires; Bolstering Expertise Across Markets
Insights and research agency TRA announces slew of new hires. Still no news on the return of marble wash denim, however.
CX Lavender Hires Boston Consulting Group’s Kim Verbrugghe as Chief Strategy Officer
CX Lavender announces new strategy hire and channels 'acoustic folk act at local RSL' for the publicity pic.
Opinion: Community standards, will they be the death of us?
This columnist is talking community standards. Sadly not those people who put dogs in trolleys in supermarkets.
Tegel gets heads bobbing with new free-range chicken platform
Sure, there's a lot of moral considerations when buying a chook. Yet, not as baffling as buying eggs or canned tuna.
Study: 66% of Aussie men believe masculinity is under attack
Two-thirds of Aussie blokes say masculinity's under attack. That said, sales of Solo lemon drink appear robust.
‘Equal Writes’: Canyon reveals new campaign and refreshed brand for women and non-binary writers
As this brand redesign again proves, nothing beats black on white. Well, white on black in this instance.
Icon Agency bolsters consumer and integrated offer with major hires
Icon Agency unveils new recruits. As press photo confirms office moustache competition now a lay-down misère.
Clemenger launches agricultural graduate program
Has Farmer Wants A Wife triggered an interest in dagging & hay balers? This grads program may resonate.
Levi’s Appoint UM As Global Media Agency For $217m Account
Levi's are the jeans for rockstars, models & the cool kids. Although that's not stopped dads from ruining their image.
QMS Nabs Sean Rigby From oOh!media
Things set to get spicy at the next Outdoor Media Association dinner and dance as a rival gets poached.