Smart data experts from Edinburgh have briefed Westminster MPs on understanding the economic wellbeing of constituents – by harnessing near realtime financial data.
Representatives from Smart Data Research UK’s Financial Data Service – operated by Edinburgh’s Smart Data Foundry – met travelled to London as part of an ‘evidence week’ in parliament to bring the latest research to policymakers.
Dougie Robb, Dame Julia Unwin, Magdalena Getler, Rui Cardoso and Charlotte Binstead made policy recommendations and highlighted the need to review current policies considering the latest available evidence.
They presented their findings to MPs including Adrian Ramsay, Alex Sobel, Chris Murray, Liz Twist, Lizzi Collinge, Peter Lamb and Shockat Adam ,equipping them with vital information to inform the decisions they make on future policies aiming to reduce economic inequality.
This is just one example of how smart data can be used. Beyond demonstrating the potential of smart financial data, the team urged MPs to support its broader integration into policy research, delivery, and evaluation – by backing smart data initiatives and legislation, including the secondary legislation set to be introduced under the Data (Use and Access) Act 2025.
Magdalena Getler, head of research growth, Smart Data Research UK, said: “It was fascinating to be at Parliament and to talk about the power of private sector financial data to fill some of the gaps in official statistics. Meeting MPs helped us to understand the challenges in their constituencies, and we hoped to have inspired them with the potential of smart data to contribute to the solutions to the problems faced by their constituents.”
Evidence Week, now in its eighth year, is run by the campaigning charity Sense about Science, in partnership with the Quadram Institute, the UK Statistics Authority, communities and research institutions from across the UK.
During the week, MPs meet with leading scientists to get the latest insights on pressing issues covering topics as varied as Artificial Intelligence, health, sports gambling and prison management. It’s an opportunity for the public, parliamentarians and researchers to come together to share knowledge and insights.