59. Consumer Journey Analytics in the Context of Data Privacy and Ethics

By Big Data Analytics we understand new technologies and methods that go beyond how data and analytics was previously handled. On the data side, extremely large data sets can be stored and processed, even real‐time, and at reasonable cost. On the analytical side, methods are no longer limited to hard‐coded (business) rules or statistics, but leverage Artificial Intelligence (AI) and particularly Machine Learning (ML). In this paper we argue that Big Data’s quickest business wins and first tangible impact is in the domain of customer/consumer analytics, summarized as Digital Consumer Journey Analytics. Such journeys are constructed from people’s movement and navigational patterns in both the virtual and physical world; while individual data points are at first not very expressive, the picture created by continuous collection of ubiquitous data and their history, allows to unveil almost any identity profile. Under this increasingly digital environment, staying in the relevant set of consumers is of utmost importance for businesses. Big Data Analytics can support by, e. g., driving product and service design and customer experience improvements. However, there are increasing limitations to the possibilities of Big Data Analytics in consumer businesses, in particular Data Privacy and Data Ethics. Businesses have to deal with a growing appetite of legislation and prudential regulation, e. g., the EU GDPR. The challenge is to make data‐driven offerings trusted in the digital age. In this paper we will illustrate the journey in an insurance business to grow successful Big Data Use Cases in Consumer Analytics and discuss Privacy by Design (PbD) and Private Enhancing Technologies (PET) as means to build trusted data‐driven products and services.