Claro Partners | The Personal Data Economy
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The Personal Data Economy

The Personal Data Economy

DEEP SHIFTS
Technology

What if personal data is not a commodity like oil, but provides the greatest value when it’s accessible by the consumer who created?

In a six-month consortium with BBVA, Intel and Vodafone, Claro envisioned and lend the exploration the Personal Data Economy to redefine the real value of data to people and businesses.

 

Since this project, we have helped numerous companies across industries to identify differentiated, customer-centered data opportunities and strategies.

Challenge

People are generating more and more data in their daily lives, which will grow increasingly personal and contextual as the digital and physical worlds become more interwoven.

 

Rather than seeing personal data as a currency, or commodity to be sold, companies need to see this personal data as a unique asset that can deliver new forms of value, while taking a customer-centered approach that deepens trust and strengthens the customer’s bond to the brand.

Approach

Ethnographic research over six global locations, including interviews, co-creations sessions and workshops with consumers, prosumers and micro-businesses.

 

Expert interviews and roundtable discussions with thought leaders and practitioners in the personal data space around the world.

 

Conducted a two-day collaborative workshop to identify strategic opportunities for each participating company as well as to collaborate across companies to address platform level challenges.

 

This workshop was followed by custom workshops at each client organisations’ headquarters to apply learnings to proprietary opportunities and ongoing initiatives.

Impact

We created tools and guidelines that help companies expand beyond selling anonymised, aggregated data, to designing and delivering services that use personal data to provide real value at an individual level.

 

These tools have led to many product and service concepts that differentiate client organisations from their competitors and bring them closer to their customers.