The Power of Sharing Data – Procode and Data on Demand

“It is a truth universally acknowledged, that a person in possession of a single nugget of data, must be in want of another.”

We are slightly twisting what Jane Austen wrote here but if she were writing in today’s data-driven society, she may well start off a book with that line.

Take Spotify. It knows that you like, say, Taylor Swift’s track Anti-Hero because you played it ten times last week. However, it can also use its data on what other people who have played the same track are listening to recommend Dua Lipa or Billie Eilish. Taking it another step, the streaming platform could use its knowledge about your location to promote gig tickets the next time one of these artists is playing nearby.

We can combine data from disparate sources to help energy customers achieve objectives that are greater than the sum of their parts too.

Data on Demand and Procode have both built their success on providing access to rich sources of data.

“We provide organisations with the insights they need on their customers, leading to improved understanding of their customer base and better customer outcomes.” says Data on Demand’s Harry Bland.

The company provides a range of proven data services relating to identification, verification and communication. iDVu enables organisations to identify vulnerable consumers to create positive customer outcomes and meet their regulatory obligations. FinTrace is a contact solution used by debt purchasers, debt collection agencies and in-house collections teams to improve customer engagement and successful payment outcomes. The company’s 4iD consumer identity and verification solution helps organisations improve consumer onboarding and reduce fraud.

“We have long recognised the benefits of smart data,” says Procode’s David Ng.  “Our Smart Datastream product taps into billions of pieces of real-time and historical information from the UK’s smart meter estate about how consumers are using energy in their homes.”

Procode also enriched its data offering earlier this year with the acquisition of Ecofit, a property performance snapshot created by two British environmentalists Tim Maxwell and Harry Smith. This scalable solution collates multiple disparate data sources on UK homes to discover which homes are eligible for 11 different decarbonisation and energy efficiency grants available, including the Boiler Upgrade Scheme, the Great British Insulation Scheme, the Social Housing Decarbonisation Fund and the Home Upgrade Grant.

Data on Demand and Procode have already shown the power of data to deliver better engagement with customers and greater efficiency for energy suppliers.

Data on Demand’s Chief Data Officer Greg Ellis says, “Utilities who have embedded our FinTrace data into their operations get access to over 50 million UK consumer data records including digital channels and wider Income & Employment insights. This helps utilities improve engagement with their customers and deliver better outcomes than leveraging insights from traditional data bureaus or credit reference agencies alone.”

Looking ahead, it is clear how combining feeds from Data on Demand and Procode could allow suppliers to take another step in making their operations more effective. The power of data from multiple sources can also help suppliers’ customers through better engagement and providing smart insights they can use to cut their bills and reduce energy usage, helping the country achieve its net zero ambitions.

Procode’s Catharine Vama says, “We know that Data on Demand can already highlight vulnerable customers through their data. At Procode, we can dig into their energy consumption data to provide suppliers with the tools they need to help customers manage their spending better so their hard-earned money can be used for other things.”

Data on Demand’s Harry Bland says, “Our powerful dataset, with up-to-date contact details, helps suppliers keep in touch with their customers better. Keeping communications open and offering solutions to the difficult situations that we know householders can sometimes face is in the best interests of everyone.”

Combining data from two trusted providers such as Data on Demand and Procode will help vulnerable people and those who may not be aware of available grants and help to access them.

Procode Managing Director Ian Burgess says, “People often worry about how companies use their data. We know that robust, secure and intelligent use of data can bring benefits for both suppliers and their customers at the same time.”

In conclusion, the power of sharing data is evident in the success stories of Data on Demand and Procode. By leveraging data from multiple sources, both companies are not only improving customer engagement but also contributing to broader goals like energy efficiency and net zero ambitions. The future looks promising as we continue to innovate and harness the potential of data.