India’s Data Bill, Data Prioritization, Credit Score Data, Alternative Data, Big & Small Data, Data Strategy

This week, we begin with an article revealing Meta’s latest filing showing concern over India’s upcoming privacy legislation that requires local storage and in-house processing of data. Next is a piece analyzing some common rules of thumb for adopting master data management (MDM) by digital transformation (DX) programs. Then, we have an essay reviewing the alternative data sources used for credit scoring and the existing insufficient regulations to address the related issues. Following that, we have a story examining potential of alternative data in driving financial inclusion. Next is an article exploring how small data is becoming more approachable over big data. Lastly, we have an assessment of FAIR (Findable, Accessible, Interoperable and Reusable) framework adopted by Geospatial Commission for geospatial data.

India’s Data Bill Worrying, Says Meta In SEC Filing

Meta Platforms said it is concerned about India’s upcoming privacy legislation, which seeks local storage and in-house processing of data, the company’s latest filing with the US Securities and Exchange Commission (SEC) revealed. This follows similar concerns expressed by search giant Google’s parent Alphabet Inc in its regulatory filings made on February 2, without explicitly naming any country.

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Data Prioritization In Digital Transformation Programs

Businesses today recognize the strategic importance of digital capabilities to improve business performance and are increasingly embarking on digital transformation (DX) programs. According to Markets and Markets, the DX market size is expected to grow from $521.5 billion in 2021 to $1247.5 billion by 2026, at a compound annual growth rate (CAGR) of 19.1%.

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The Data Revolutionizing Credit Scoring

You may be surprised to learn that your next internet search could affect your credit score. Lenders use credit scores to assess whether they will extend credit to consumers for homes, cars, education, and many other aspects of life. Traditionally, the credit reporting agencies that construct these scores have relied on consumers’ borrowing history.

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Millions Could Get A Leg Up Financially If Credit Scores Included Alternative Data

Almost 50 million Americans could finally earn a credit score — opening up financial opportunities — if their credit histories incorporated alternative data, such as rental payments, utilities, and trended data, according to a new study. As a result, these individuals — who are disproportionately young, Black, and Hispanic — could have an easier time qualifying for credit cards, borrowing to start a business, or getting a mortgage to buy a house.

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Why The Hype Around Big Data Misses The Point – And How Small Data Gets It Right

For years we’ve been sold on this story of Big Data and AI. How together, AI fueled by Big Data would be what powers 21st century businesses to survive and thrive in a world dominated by digital transformation and user experiences. Everything from healthcare and financial services to housing and climate change, all problems to be worked at and solved by a combination of AI, more computing power and Big Data.

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Data Strategy Highlights Geospatial Data Challenges

As part of the government’s National Data Strategy, the Geospatial Commission has published an assessment of the UK’s geospatial data, which calls for such data to be made a strategic national asset. In the assessment, Kru Desai, independent commissioner of the Geospatial Commission, called for a coherent national geospatial data system as the basis for the UK’s data economy.

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