Privacy Preserving Analytics Protocol
Just the Gist and not the Actual Data
IDSC has developed a secure benchmarking solution which addresses the need for benchmarking of sensitive cost and performance without revealing the actual data.
For a variety of reasons, companies in Asia are loathe to truthfully provide data on cost (including salary) and performance but are keen to know what others are paying or achieving.
IDSC's solution enable companies to send a specially computed extract of their data (called the GIST) that summarises the essence of their data such that the answer computed from submitted extracts is the same as if the full set of raw data was provided. This enables companies to not only know how they are doing without worrying about their data being compromised.
There are wide applications for this Secure Benchmarking solution such as the following:
- Productivity benchmarking amongst peers in each industry going beyond whether one is doing well to knowing where one is strong or weak - enabling safe learning that will spur growth of entire industries
- HR applications to develop more insights into how salaries & performance could/should be managed better & more equitably
- Procurement : to establish market norms & patterns, strategise better when & how much to contract versus buy from spot market, & how to negotiate win-win contracts with their vendors
- Audit applications to efficiently analyse transactional data for compliance with policies and contracts
- Know Your Customer (KYI) marketing applications without infringing on PDPA restrictions
- Research Collation of sensitive survey information
- Sharing of supply chain risk, value-in-context, consumer preference and countless other models
Let us know if you need to know how Secure Benchmarketing can be applied to areas where anonymization is required for the data. Contact us for a confidential discussion.