If you missed it, here is Dr Sam Short, Upside's Chief Data Scientist, commenting on how Retailers can make the most of the Open Data (including Open Banking) macro trend:
"It is fair to say, insights derived from Open Banking spend data are a game changer for the retail industry; not only because it unlocks a multitude of competitive advantages and business development opportunities, but because of the considerations afforded to data privacy (in addition to specifically giving consent to share their spend data, consumers must also re-authorize access every ninety days).
In the aggregate, spend data insights offer a real-time view of the market; this can be broken down by sector, location, or even to a view of a company compared to their competitors. It becomes possible to easily answer questions such as: How is the market performing? What is my share of the market? Are there any emerging trends? What is the current ratio of sales in store vs online?"
Read the full article here.