Understand My Customers Better

Key Business Considerations

The cost of increasing revenues from existing customers is only a fraction of the cost of generating equivalent revenues from new customers. Data that provides insights into who your current customers are, what they like to do, where they come from, or where they want to go, helps to develop more effective cross-sell, up-sell and “next best action” offerings. In addition, insights gained from analysing current customers help you to identify common interests and characteristics to enable more effective outreach to new customers.

The more accurate available data is, the higher the return on investment from laser-focused marketing and sales campaigns for customers. For example, a two-year study of 50,000 hotels by the Centre for Hospitality Research showed a 49% increase in the frequency of stays and a 57% rise in revenues generated by loyalty programs.

Key Legal Considerations

When using personal customer data to gain customer insights or provide more-effective marketing and advertising campaigns, there are some issues that many organisations are dealing with:

• While your customers may give consent for the initial collection and processing of data, you may want to process this data further to maximise its value.
• Using analytics and AI to analyse customer data to gain new insights goes beyond what customers are capable of consenting to at the time of initial data collection because these processes are too complex to describe with specificity.

This means that you need to rely on another legal ground to process this data: Legitimate Interests processing. Legitimate Interests processing provides benefits for data controllers wanting to lawfully use data for secondary processing and repurposing.

However, for Legitimate Interests processing to satisfy legal requirements, you must show that you are using “appropriate safeguards” that reduce the risk of data misuse, such as GDPR-compliant Pseudonymisation.

Anonos Decentralised Data Protection Technology

Traditional centralised data protection technologies, including encryption, anonymisation, static tokenisation, and differential privacy:

• Significantly degrade the utility of data, distorting the accuracy and predictability of the insights you need;
• Fail to deliver effective protection against unauthorized re-identification; and
• Limit the further use of valuable data for non-primary purposes.
  Anonos patented technology uniquely solves the biggest challenge to digital transformation: enabling maximum-utility from data analytics, AI and ML, sharing and combining in real-time - lawfully and ethically. In addition, it ensures that data privacy remains fully protected in decentralized processing, including data from IoT and 5G devices.
• Our premise is that organizations need “Speed to Insight, Lawfully and Ethically.” Without this speed to insight, organizations will be left behind in the highly competitive COVID pandemic recovery market place. On the flipside, without gaining this insight lawfully and ethically, they face risks of liability or disruption to operations.
• Only Anonos BigPrivacy software and API-based solutions embed policy, privacy and security controls into data flows to enable lawful, decentralised processing while preserving 100% of source data value.

Click here to learn what other global companies have proven – that it is possible to retain up to 100% of the accuracy of analytical value when processing datasets protected using patented Anonos Variant Twins®.

Anonos state-of-the-art decentralised data protection technology is superior to traditional centralised data protection because Anonos enables lawful repurposing, distributed secondary processing and data sharing and combining while delivering data utility equivalent to processing unprotected cleartext versions of personal data.