In recent years, DOT Loves Data has attracted a number of high-profile customers, including Sky TV, NZ Rugby, NZ Government agencies and regional and city councils.
This strong growth and its proven ability to meet customer’s needs are among the reasons Australia and New Zealand Banking Group Limited has announced an agreement to acquire the company.
The proposed deal will also see ANZ New Zealand, the country’s largest bank, work closely with the team at DOT Loves Data to further develop its suite of tools.
“DOT Loves Data has created tools and dashboards that are smart, simple and beautiful,” says ANZ New Zealand General Manager of Data and Marketing Astrud Burgess.
“They are amazing at taking complex data sets and creating practical and actionable insights from them.”
The investment is part of an on-going effort by ANZ to build partnerships with innovative local companies that can help its small and medium business customers grow through valuable data insights.
“Modern banking is much more than lending people and businesses money, looking after their deposits and doing transactions,” says ANZ New Zealand Managing Director of Business Banking Lorraine Mapu.
“It’s about providing insights to help people with their financial well-being, to start and grow their businesses and to assist New Zealand with its trade and capital flows around the region.
“Increasingly our customers expect us to give them data-driven insights relating to their business, the kind of information that will help them succeed, and with DOT Loves Data’s tools, we’ll be able to take that to the next level.”
DOT Loves Data’s existing tools are designed to help businesses with various aspects of their operation including financial benchmarking and carbon reporting.
“ANZ’s investment will certainly help DOT Loves Data grow but its support also means we can work together to develop new and bespoke data tools and that’s a really exciting prospect,” says Wells.
Data for good
While ANZ’s investment will support the bank’s customers, it also means DOT Loves Data will be able to continue to develop its suite of tools for the benefit of the wider community.
The company has used its data to help measure the impact of Covid-19 lockdowns on the Auckland hospitality sector and on regional tourism.
It also tracked how New Zealand’s media is contributing to the revitalisation of te reo Māori, analysing 2.3 million articles published between 2008 and 2022.
Many of the country’s local and city councils use its Community Compass and Dynamic Deprivation Index tools to target public services and prioritise their spending.
“We see a huge opportunity to use data to make a positive difference. That’s the direction ANZ has been heading in recent years with the establishment of a 300- strong data team,” says Burgess.
CEO Wells says DOT Loves Data will continue to work directly with existing customers.
“With a comprehensive and up-to-date view of their community - including a detailed demographic breakdown of each area - we can help local government and NGOs (non-government organisations) understand their communities and their needs,” he says.
“This allows them to better target public services and prioritise investment where it is required.
“Importantly, it means they can make evidence-based decisions and reduce operating expenditure, resulting in savings. It’s great when you see that happen, you know you’re using data to make a positive difference and help people to lead better lives.
“That’s a big part of what we hoped to achieve when we first set up the company and I’m looking forward to seeing that continue.”