This means that Data Ventures sits in the middle of the data chain. Data Ventures gets datasets from other organisations and turns those datasets into useful products. These are often datasets that are really hard to get otherwise.
Our role is to source and provide data that is not readily available. Previous best attempts at accessing this data are one-off and acquired from a single source. An expensive and time-consuming option for both data provider and data user.
Data Ventures brings datasets across government and private sector together in a trusted environment. As a result Data Ventures is able to reduce the cost to all of Government, private sector, NGO's and iwi in relation to the procurement, processing and handling of data. Data Ventures will not be selling Stats NZ data.
Much like any commercial entity, Data Ventures operates a pipeline but it’s a pipeline that has multiple paths. Data Ventures has a unit inside it called Data Ventures-X where big ideas happen. People inside Data Ventures or Data Ventures-X may find a gap in the market for a data product. The team then works on validating whether the idea is worth pursuing.
Data Ventures then seeks out those who have the data that would enable Data Ventures to create a product to solve the identified problem.
This might be one organisation with a dataset that would enable Data Ventures to make the product. It might be an organisation who can create the dataset to enable Data Ventures to make the product. Or it might be several organisations that have the datasets or can create the datasets enable Data Ventures to make the product. If this is the case, Data Ventures will work with those organisations to pull all the datasets together in a way that protects each organisation’s IP and provides benefits back to them.
Data Ventures then works with Stats NZ, using its IP or data scientists to layer over the top of the data so that the product that comes out is top end and of the highest quality. With a complete product, Data Ventures may sell that product to government organisations or NGOs, or it may sell it back to the data provider depending on what arrangement.
By doing all this, Data Ventures provides a stream of revenue back to Stats NZ without selling any Stats NZ data.
Because Data Ventures is the commercial arm of Stats NZ, we abide by their privacy statement. This means we do not identify individuals in our products. You can read the full Stats NZ privacy statement on data collection.
There is a lot of history to how we came to what we are today. We have it conveniently onto make available the ventures we've explored and journey we have been on to get .