A new partnership will aim to open up public sector data and financial data for use by researchers for the ‘good of society’.
Research Data Scotland Smart Data Foundry are to work together on providing greater access to datasets that can help tackle the cost-of-living crisis and poverty related issues.
It’s hoped the partnership will stimulate new thinking on policy and possible ‘early interventions’ around ill health and financial data.
Operating from the new Edinburgh Futures Institute, the two organisations will combine their areas of expertise to strengthen their shared commitment to public good.
Research Data Scotland is dedicated to simplifying access to public sector data, enabling research that enhances health and social wellbeing across the country.
Founded in 2021, it is a partnership between leading Scottish universities and public bodies, and is funded by the Scottish Government.
Smart Data Foundry is a not-for-profit subsidiary of the University of Edinburgh and was launched in 2022 to ‘enrich lives by harnessing the power of financial data through research and insights’.
Layla Robinson, chief partnership and strategy officer at RDS, said: “We are excited to have entered into a formal partnership with Smart Data Foundry and to explore how we will work together. Our organisations have lots of parallels – opening up systems to allow research to take place faster and acting in the interest for public good, for example.
“The pandemic accelerated the expansion of our digital lives – so many services moved online, creating large amounts of data about spending habits and shopping behaviours. Securely accessing and researching this kind of anonymised banking data can help us better understand how we live.
“These digital footprints – or smart data – could have real power if linked with public sector data. Linking them enables us to develop a more detailed picture of our lives and might enable us to look at links between poverty and chronic ill health, for example. This would allow policymaking to be made on increasingly accurate information and insights.”
Both organisations aim to benefit equally from the “collaborative venture”, lasting two years and enhancing their ability to address complex challenges by combining health and financial data insights.
Magdalena Getler, head of academic engagement at Smart Data Foundry, said: “This partnership allows us to harness the potential of combining financial data from the private sector with public sector data. We are looking forward to collaborating on projects that merge data from these areas to gain valuable insights for research and innovation.”
