Connected devices are expected to quadruple the average individual’s daily data interactions by 2025. If data management is not paid enough attention, consumers could lose control over their data or – worse – suffer breaches of their privacy. Oliver Wyman’s joint report with the GSMA finds that Telcos want to offer trust, transparency, control and simplicity in data management.
That’s why trusted data managers will be an essential condition for a successful digital society. These managers will be trusted data hubs that are independent, operate according to a high standard of ethics – and are also embedded in the digital economy, so that they are convenient, secured and technically excellent. In line with the General Data Protection Regulation (GDPR), the telcos’ vision is to put customers in control of their data, so that data is used for their benefit. The telecoms industry must work together for a brighter future, in which they can unlock innovation and the value of personal data. Telcos’ value proposition is Trust, Transparency and Simplicity in data management.
Telecom operators are well positioned to become trusted data managers. Privacy and security are part of their DNA. They have excelled in data management for decades; have a strong history of compliance with the strictest regulations; are equipped with advanced digital capabilities; and are deeply rooted in local markets. They are also aware of the importance of building long-lasting relationships with customers.
The Data Portability Cooperation (DPC) initiative is an inclusive working group facilitated by the GSMA and led by major European Telecommunications operators including Deutsche Telekom, Orange, and Telefónica. It has been developing a first draft of specifications to provide trustworthy, secure, and automated data portability for consumers. The essence of the specifications is the telcos’ vision of transparency and control.
Other telecom operators and industries are welcome to join the Data Portability Cooperation initiative to develop it further. They will have the opportunity to build an ecosystem of trusted data managers that reach beyond the telecoms industry.
The first draft of the specifications defines which customer data should be exchanged. It will be enriched over the time with additional elements, such as protocols, etc. You can find out more here.