Issue 3 2020

Jan20058 Dealing with Data-led Decisions Data is such an important part of all our lives, even if we don’t always see it. From our shopping habits to recommended products, the value of data is simply astonishing. Knowing how to compile that information into tangible insights is a major challenge, one taken on by Suburbia. Named as Corporate Vision’s Corporate Excellence Awards as Best in Alternative Data Collection, 2020 - the Netherlands, we took a closer look at the Amsterdam based business to find out more. Established in 2018, Suburbia specialises in the collection of alternative data from multiple sources across Europe and unlocking its potential for valuable insights into how and what people are buying. For investors and corporations, accurate, fast and reliable intelligence is incredibly useful. Suburbia draw their conclusions from millions of anonymous points of data, collected and processed in a responsible way that protects privacy. Currently, the dataset is able to track hundreds of consumer brands, providing insights into publicly listed and large private companies. With this data, it is possible to learn which products and brands are trending, and in which markets. It’s hard to capture an accurate picture of consumer spending in Europe because of its fragmented payments market and preferred payment methods vary from country to country. This makes the information they gather particularly useful, as the data can be captured by credit, debit or cash – the latter still being the dominant form of payment in countries such as Germany. Being able to access this data means that predictions and conclusions can be reached with even greater accuracy, while also protecting privacy. Data has become its own currency and Suburbia helps companies monetize their business data without compromising the privacy of their customers. The information that the team gathers is sold to researchers, economists and institutional investors like pension fund and asset management companies. An internal sales team manages relations with these organisations, building new relationships with potential clients at external events such as trade shows and conferences. Those who supply data are also paid, which means that small and medium sized enterprises can turn data into revenue when working with Suburbia. The plan for Suburbia is to continue growing its data coverage across different sectors and geographic areas. In order to achieve this, the company will have to partner with other companies that are generating interesting data that can be used for the forecast of emerging market trends. “Data has become its own currency and Suburbia helps companies monetize their business data without compromising the privacy of their customers.” As alternative data becomes more mainstream as a concept, the team behind Suburbia can see potential for more companies to take advantage of what it has to offer. That said, post GDPR, many companies are wary about sharing their data with third party organisations. The value of privacy has always been paramount to Suburbia and explaining this to businesses can be a challenge. Often, it comes down to establishing that the team does not want information on individuals, but aggregated data on products and brands. While no personal information is ever shared with Suburbia, great care and consideration is also taken to ensure that merchants cannot be identified based on particular data fields. Over time, different sources of such alternative data will be combined to yield new insights. Suburbia offers a way to leverage that data to increase revenue and insight without compromising the privacy of the customer. That is the real potential of alternative data to all businesses. By demonstrating the value and potential of alternative data that can be responsibly harnessed in a privacy-first way, the company is establishing the groundwork for a future when alternative data goes mainstream and is embraced by more companies across different verticals. Company: Suburbia Contact: Stephanie Tan Website: www.suburbia.io