Have you recently used a NAB credit card or debit card to buy a product at Rundle Mall? Rundle Mall sees this as a good time to build a consumer information database that collects information about who customers are and what they buy. Where customers come from and customers are poor or rich and other information!
A data analysis company affiliated with Woolworths has partnered with banks to provide Rundle Mall with 100000 big data messages that reflect consumer consumption habits and other information.
The 100000 Rundle Mall consumer is also part of 3000000 active (NAB) users at the National Bank of Australia.
Under the agreement, NAB's credit card and debit card consumption records will be provided anonymously to data analytics companies to analyze consumer preferences and make this behavior perfectly legal. But Rundle Mall president Peter Joy said management can learn about the average age of Rundle Mall people, what they buy, how long they stay, and even how rich they are and where they come from.
"it may be a little scary, but it's really a very important part." He said. "We have the right to use core bank statements of 100000 people, which can be used to analyze consumer behavior and preferences. Understand what people buy and what they buy. "
Mr. Joy said the data was valuable and could accurately identify the statistical trends of key visitors. "they give us more information about consumers. For example, we overestimate young people and their wealth. "
"the key question is whether the data used by Rundle Mall executives is anonymous," said Anna Johnston, a leading Australian privacy law and practice expert and former president of the National Privacy Foundation.
Rundle Mall management began using the data in 2016 to analyze the company's data, which is updated annually to assist in guiding Rundle Mall's business strategy. In addition, Rundle Mall has hired another data analysis company to locate visitors' phones and find out where customers visit frequently. Mr. Joy said data collection helped ensure that Rundle Mall trades worth about A $117000000 a month.