#259 Getting the Data For Your Data-Driven Decisions with Jonathan Bloch & Scott Voigt

16 snips

Nov 7, 2024

Guest

Scott Voigt

Guest

Jonathan Bloch

Jonathan Bloch, CEO of Exchange Data International, shares insights from his 40 years in financial data, alongside Scott Voigt, CEO of Fullstory, who specializes in behavioral data platforms. They discuss the critical balance of acquiring first-party vs. third-party data while navigating legal complexities. The conversation dives into how personalized experiences can be crafted from behavioral data, strategies for quality data sourcing, and the evolving landscape of data privacy regulations, especially in finance, to foster informed decision-making.

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ADVICE

Data Sourcing Strategy

Define the scope of data needed, and search for available options.
Consider quality, delivery, price, and frequency, aligning data with its purpose.

ADVICE

Data Sourcing Implementation

Issue RFPs outlining data requirements and delivery details, then negotiate.
Request sample data or trials to verify quality and suitability before committing.

INSIGHT

Data Storage Strategy

Data storage strategies vary; some advocate storing everything, others only what's immediately necessary.
Reconstructing historical data is expensive and sometimes impossible, favoring a more comprehensive approach.

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Understanding where the data you use comes from, how to use it responsibly, and how to maximize its value has become essential. But as data sources multiply, so do the complexities around data privacy, customization, and ownership. How can companies capture and leverage the right data to create meaningful customer experiences while respecting privacy? And as data drives more personalized interactions, what steps can businesses take to protect sensitive information and navigate the increasingly complex regulatory picture?

Jonathan Bloch is CEO at Exchange Data International (EDI) and a seasoned businessman with 40 years experience in information provision. He started work in the newsletter industry and ran the US subsidiary of a UK public company before joining its main board as head of its publishing division. He has been a director and/or chair of several companies and is currently a non executive director of an FCA registered investment bank. In 1994 he founded Exchange Data International (EDI) a London based financial data provider. EDI now has over 450 clients across three continents and is based in the UK, USA, India and Morocco employing 500 people.

Scott Voigt is CEO and co-founder at Fullstory. Scott has enjoyed helping early-stage software businesses grow since the mid 90s, when he helped launch and take public nFront—one of the world's first Internet banking service providers. Prior to co-founding Fullstory, Voigt led marketing at Silverpop before the company was acquired by IBM. Previously, he worked at Noro-Moseley Partners, the Southeast's largest Venture firm, and also served as COO at Innuvo, which was acquired by Google. Scott teamed up with two former Innuvo colleagues, and the group developed the earliest iterations of Fullstory to understand how an existing product was performing. It was quickly apparent that this new platform provided the greatest value—and the rest is history.

In the episode, Richie, Jonathan and Scott explore first-party vs third-party data, protecting corporate data, behavioral data, personalization, data sourcing strategies, platforms for storage and sourcing, data privacy, synthetic data, regulations and compliance, the future of data collection and storage, and much more.

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