Security and communications professionals who operate at the leading edge of crisis management recently told us at our Extra Time with Dataminr event about the challenges they face in realizing the full potential of real-time, publicly available information from a variety of sources, especially as a crisis unfolds. We asked event attendees about the challenges and opportunities of using alternative sources of real-time information as an integral element of daily operations.
One thing was clear: the speed and abundance of information has significantly shrunk timeframes for understanding and responding to crises. More than three-fourths of respondents characterized the current information landscape as “noisy," “confusing," and at times “scary." It is no wonder, then, that these professionals rely more than before on information points that offer clarity, context, and accuracy. Indeed, over half of respondents agreed that more accurate real-time information helps them make better decisions.
“When my team is able to manage an incident in real-time we play a vital role in defending or adding value to our brand.”
Having established the value of alternative sources of real-time information for modern businesses, attendees discussed how this information is currently being used across security and communications teams. A resounding two-thirds of those in attendance stated that it is difficult to ensure everyone in their organisation has access to the same information at the same time, for critical decision making.
This has impacts on effectively managing a crisis. Paddy McGuinness, former UK Deputy National Security Advisor, asserted that “board level executives must have experience working together in a crisis to have an effective and timely response.'' Ensuring that all stakeholders have access to relevant information at the same time is the first step to enabling teams to work together more effectively.
Click here to watch a video about how Dataminr’s real-time alerts saved clients’ time, money, resources, and even lives during the Hurricane Harvey disaster.
Moreover, alternative data is posing a challenge for those on the front lines who are trying to surface meaningful signals amid significant noise. More than 61% of the senior executives in attendance told us their teams are struggling to identify the most relevant data points on breaking incidents, given the large volume of public data available. Dataminr is able to detect meaningful signals in the shifting seas of alternative data, providing insights most needed by teams to act with confidence and speed.
Over half of senior executives agree that the more accurate real-time information they get access to, the better their decision making.
Extra Time with Dataminr offered a snapshot into the ways that business leaders are making the most of latest technology. Dataminr remains committed to helping businesses across industries gain advantages from alternative sources of public data. Sign up for our newsletter to receive further insights on the constantly evolving information landscape for security and communications professionals, and to learn of future events.