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Open Corporate Data: not just good, better

Date post: 23-Aug-2014
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Presentation given by Chris Taggart, CEO and Co-Founder of OpenCorporates at Open Knowledge Festival, Geneva, September 2013 Discussing benefits and quality of open corporate hierarchy (network) data
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Open Data Not Just Good. Better
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Page 1: Open Corporate Data: not just good, better

Open Data

Not Just Good. Better

Page 2: Open Corporate Data: not just good, better

Open Data is Good!

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Page 3: Open Corporate Data: not just good, better

But we’re not the ones we need to convince

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Page 4: Open Corporate Data: not just good, better

Most people don’t care about ‘open’

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Page 5: Open Corporate Data: not just good, better

Even though open data is better

(than closed/proprietary)

Page 6: Open Corporate Data: not just good, better

Even though open data is better

(than closed/proprietary)• Better for innovation

Page 7: Open Corporate Data: not just good, better

Even though open data is better

(than closed/proprietary)• Better for innovation

• Better for competition

Page 8: Open Corporate Data: not just good, better

Even though open data is better

(than closed/proprietary)• Better for innovation

• Better for competition

• Better for efficiency

Page 9: Open Corporate Data: not just good, better

Even though open data is better

(than closed/proprietary)• Better for innovation

• Better for competition

• Better for efficiency

• Better for sharing (esp cross-organisation or cross-border)

Page 10: Open Corporate Data: not just good, better

But open has a secret weapon

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Page 11: Open Corporate Data: not just good, better

It’s better quality too

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Page 12: Open Corporate Data: not just good, better

Problem Cause

Data accuracy Data is re-keyed. Few eyeballs. Often little downside to lying

Gaps in data High (& often duplicated) cost of data entry. Limited to payers

Lack of granularity Legacy systems/data models hard to reengineer in closed world

Errors go uncorrected Few feedback mechanismsBlack box/No provenance

Can’t reveal (sometimes dubious) sources. Limits usefulness/trust

IsolatedProprietary IDs are internal identifiers & are barriers to

sharing & improved data quality

Common proprietary data quality issues

Page 13: Open Corporate Data: not just good, better

Problem Cause

Data accuracy Data is re-keyed. Few eyeballs. Often little downside to lying

Gaps in data High (& often duplicated) cost of data entry. Limited to payers

Lack of granularity Legacy systems/data models hard to reengineer in closed world

Errors go uncorrected Few feedback mechanismsBlack box/No provenance

Can’t reveal (sometimes dubious) sources. Limits usefulness/trust

IsolatedProprietary IDs are internal identifiers & are barriers to

sharing & improved data quality

Common proprietary data quality issues

Page 14: Open Corporate Data: not just good, better

Problem Cause

Data accuracy Data is re-keyed. Few eyeballs. Often little downside to lying

Gaps in data High (& often duplicated) cost of data entry. Limited to payers

Lack of granularity Legacy systems/data models hard to reengineer in closed world

Errors go uncorrected Few feedback mechanismsBlack box/No provenance

Can’t reveal (sometimes dubious) sources. Limits usefulness/trust

IsolatedProprietary IDs are internal identifiers & are barriers to

sharing & improved data quality

Common proprietary data quality issues

Page 15: Open Corporate Data: not just good, better

Problem Cause

Data accuracy Data is re-keyed. Few eyeballs. Often little downside to lying

Gaps in data High (& often duplicated) cost of data entry. Limited to payers

Lack of granularity Legacy systems/data models hard to reengineer in closed world

Errors go uncorrected Few feedback mechanismsBlack box/No provenance

Can’t reveal (sometimes dubious) sources. Limits usefulness/trust

IsolatedProprietary IDs are internal identifiers & are barriers to

sharing & improved data quality

Common proprietary data quality issues

Page 16: Open Corporate Data: not just good, better

Problem Cause

Data accuracy Data is re-keyed. Few eyeballs. Often little downside to lying

Gaps in data High (& often duplicated) cost of data entry. Limited to payers

Lack of granularity Legacy systems/data models hard to reengineer in closed world

Errors go uncorrected Few feedback mechanismsBlack box/No provenance

Can’t reveal (sometimes dubious) sources. Limits usefulness/trust

IsolatedProprietary IDs are internal identifiers & are barriers to

sharing & improved data quality

Common proprietary data quality issues

Page 17: Open Corporate Data: not just good, better

Problem Cause

Data accuracy Data is re-keyed. Few eyeballs. Often little downside to lying

Gaps in data High (& often duplicated) cost of data entry. Limited to payers

Lack of granularity Legacy systems/data models hard to reengineer in closed world

Errors go uncorrected Few feedback mechanismsBlack box/No provenance

Can’t reveal (sometimes dubious) sources. Limits usefulness/trust

IsolatedProprietary IDs are internal identifiers & are barriers to

sharing & improved data quality

Common proprietary data quality issues

Page 18: Open Corporate Data: not just good, better

Problem Cause

Data accuracy Data is re-keyed. Few eyeballs. Often little downside to lying

Gaps in data High (& often duplicated) cost of data entry. Limited to payers

Lack of granularity Legacy systems/data models hard to reengineer in closed world

Errors go uncorrected Few feedback mechanismsBlack box/No provenance

Can’t reveal (sometimes dubious) sources. Limits usefulness/trust

IsolatedProprietary IDs are internal identifiers & are barriers to

sharing & improved data quality

Common proprietary data quality issues

Page 19: Open Corporate Data: not just good, better

A concrete example: corporate networks

Page 20: Open Corporate Data: not just good, better

Hugely important (and valuable)

• The dataset we need to understand the corporate world

• Who we (or the government) is really doing business with

• Political influence/donations/lobbying• Tax/resource extraction• Corporate Governance• Credit risk

Page 21: Open Corporate Data: not just good, better

But proprietary datasets on this are problematic

• Expensive, so relatively few users• Huge gaps in data• Uses proprietary IDs (so not clear

what it’s refers to)• Restrictive licences• Opaque – no info re calculations,

provenance or confidence

Page 22: Open Corporate Data: not just good, better

But proprietary datasets on this are problematic

• Expensive, so relatively few users• Huge gaps in data• Uses proprietary IDs (so not clear

what it’s refers to)• Restrictive licences• Opaque – no info re calculations,

provenance or confidence

Result: low-quality data

Page 23: Open Corporate Data: not just good, better

The open data alternative

Page 24: Open Corporate Data: not just good, better

The open data alternative

Enabled by a grant from the

Alfred P Sloan Foundation

Page 25: Open Corporate Data: not just good, better

Data from disparate public sources

Page 26: Open Corporate Data: not just good, better
Page 27: Open Corporate Data: not just good, better

findi

ng

new

in

sigh

ts

Page 28: Open Corporate Data: not just good, better

no such

company

Page 29: Open Corporate Data: not just good, better

...an

d er

rors

too

no such

company

Page 30: Open Corporate Data: not just good, better

What a modern financial company looks like (highly simplified

& truncated views)

Page 31: Open Corporate Data: not just good, better

What a modern financial company looks like (highly simplified

& truncated views)

Page 32: Open Corporate Data: not just good, better

What a modern financial company looks like (highly simplified

& truncated views)

Page 33: Open Corporate Data: not just good, better

What a modern financial company looks like (highly simplified

& truncated views)

private

unlimited

company

Page 34: Open Corporate Data: not just good, better

Crowd-sourcing?

Page 35: Open Corporate Data: not just good, better

Ninja-sourcing!

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Page 36: Open Corporate Data: not just good, better
Page 37: Open Corporate Data: not just good, better
Page 38: Open Corporate Data: not just good, better

The company that wants to know your network... every friend...

every interaction

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why bother?

Page 39: Open Corporate Data: not just good, better

Facebook, Inc

This is what we got from their SEC filings as text

Page 40: Open Corporate Data: not just good, better

Facebook, Inc

(and turned into data)

This is what we got from their SEC filings as text

Page 41: Open Corporate Data: not just good, better

Facebook, Inc

Pinnacle Sweden AB

Vitesse LLC

Facebook Operations LLC

Facebook Ireland Limited

Edge Network Services Limited

Andale Acquisition Corp

(and turned into data)

This is what we got from their SEC filings as text

Page 42: Open Corporate Data: not just good, better

Facebook Ireland Limited

Edge Network Services Limited

Pinnacle Sweden AB

Vitesse LLC

Facebook Operations LLC

Andale Acquisition Corp

Then we started investigating

Facebook, Inc

Page 43: Open Corporate Data: not just good, better

Facebook Ireland Limited

Edge Network Services Limited

Then we started investigating

Facebook, Inc

Page 44: Open Corporate Data: not just good, better

Facebook, Inc

Facebook Ireland Limited Edge Network Services Limited

Page 45: Open Corporate Data: not just good, better

Facebook, Inc

Facebook Ireland Limited Edge Network Services Limited

Facebook Cayman Holdings Unlimited

IV

Facebook Cayman Holdings Unlimited II

Facebook Cayman Holdings Unlimited lll

Facebook Ireland Holdings

Randomus Investments Limited

Facebook International Holdings II Ltd

Facebook International Holdings I Ltd

Facebook Cayman Holdings Unlimited I


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