Smart Dubai & Dubai Economy announce new data initiative for retail


November 25, 2019 | By RetailME Bureau

Smart Dubai and the Dubai Department of Economic Development (DED – Dubai Economy) have announced a joint new data initiative for the retail sector. This is part of the Private Sector Data Engagement Strategy, which was designed to foster stronger collaboration between the public and private sectors on data.

The Private Sector Data Engagement Strategy operates along four strategic themes – including transparent governance and regulations, operational excellence, commercialisation and people and engagement.

The new initiative will see anonymised and aggregated datasets examined to understand catchment area (the zone surrounding retailers or malls from which they can draw customers), visitor flow and spending trends in one of Dubai’s largest malls.

The project seeks to enhance the resilience of the retail sector by developing an understanding of the demographics and various behaviours, such as spending or visiting patterns. It will also provide insights into city-wide data to inform economic policy decision-making.

Smart Dubai is partnering with three government, semi-governmental and private sectors to implement the project including Dubai Department of Economic Development, Majid Al Futtaim – with whom Smart Dubai has an MoU to Enhance Data and Analytics Capabilities since December 2017 – and du. The new initiative will be overseen by a multi-stakeholder steering committee, co-chaired by DED director general, Sami Al Qamzi and director general for Smart Dubai, Dr Aisha Bin Bishr.

“Data is the foundation of smart cities; we’ve said this before on numerous occasions, and we reiterate it as we add yet another milestone on Dubai’s journey to harness the power of data and drive its plans to become the smartest and happiest city in the world,” said Bin Bishr. “The initiative we are launching is a pragmatic step to materialise the objectives of the Private Sector Data Engagement Strategy, which brings the public and private sectors together to collaborate on data. Our goal is to enable the seamless exchange and use of data to establish a robust data ecosystem and create economic and social value.”

“Our focus on the retail sector stems from the immense contribution it makes to Dubai’s economy,” she added. “Indeed, wholesale and retail were by far the emirate’s largest sector in 2018, according to figures by the Dubai Statistics Centre. It accounted for 26.4% of GDP – more than double the contribution of the second sector in line, transportation and storage, which accounted for just 12.3%.”

On behalf of Majid Al Futtaim, Joe Abi Akl, acting chief corporate development officer at Majid Al Futtaim – Holding, observed, “In today’s knowledge economy, it’s becoming more and more relevant for the private and public sectors to share open and anonymised data for the greater good of Dubai, its economy and its people. Given the retail sectors’ contribution to the city’s GDP, we can facilitate further economic growth through this initiative, while also improving infrastructure planning and providing consumers with more tailored and personalised experiences. Cities all over the world can take inspiration from this initiative and we are proud to partner with Smart Dubai to break new ground for the data industry.”

The innovative data-sharing initiative will be managed in accordance with international standards and best practices for safe, seamless and fair exchange of data. The ultimate goal is to strike a balance between encouraging exchange and extraction of the value of data, on one hand, and security, privacy, data protection on the other.

Both the public and private sectors stand to draw great benefits from the new project. Private companies can expect a deeper understanding of population dynamics and spend potential in catchment areas, paving the way for more informed decisions, tailored marketing campaigns and targeted offering. Public entities can use sales data to make informed, hyper-responsive and targeted decisions on economic policy and strategic plans.

“Data sharing with the private sector plays a pivotal role in improving policy reforms that are aimed at enabling the government to remain agile in embracing new opportunities for economic growth. For Dubai, it is very important to understand the changes in performance of the emirate’s main sectors and analyse the performance of each sector with public and private stakeholders, in order to consistently improve the environment for doing business in the city. We assure the private sector that the government will share more economic datasets with them to help them to improve their business plans,” stated Al Qamzi.

“As Smart Dubai’s strategic partner, du is working on the deployment of the digital backbone of the city – the smart city platform, Dubai Pulse. We have just entered the second phase of this deployment journey. This retail initiative will support the sector’s capabilities to make informed decisions through this specific retail use case, and we are confident that Dubai Pulse will empower a new era of retail experiences that are tailored to the needs of citizens and residents of Dubai,” concluded Farid Faraidooni, deputy CEO – enterprise solutions, EITC (du).

Comments

comments

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Lulu Group partners with Amazon expanding grocery offerings to online customers in the UAE

Abu Dhabi based grocery retail chain Lulu Group has partnered with Amazon 

Continue Reading

November 24, 2022 | By RetailME Bureau
Food Tech Valley partners with Tradeling to boost UAE’s food ecosystem

UAE-government-led initiative Food Tech Valley – announced in 2021 by His Highness 

Continue Reading

November 17, 2022 | By RetailME Bureau
Lulu Hypermarket to open in The Dubai Mall in 2023

Abu Dhabi-based supermarket chain Lulu Hypermarket is all set to open in 

Continue Reading

November 10, 2022 | By Rupkatha B
Beyond Meat’s Q3 2022 results “disappointing”

Plant-based meat brand Beyond Meat’s financial results for the third quarter of 

Continue Reading

November 10, 2022 | By RetailME Bureau
Barakat unveils new biodegradable packaging

UAE’s fresh produce brand Barakat has launched bio-degradable packaging across its entire 

Continue Reading

October 27, 2022 | By RetailME Bureau
Pure Harvest CEO Sky Kurtz

UAE-based agritech start-up Pure Harvest Smart Farms has signed a Memorandum of 

Continue Reading

October 27, 2022 | By RetailME Bureau
Carrefour signed up as anchor tenant for Midtown Project

Carrefour, owned and operated by Majid Al Futtaim – Retail in the 

Continue Reading

October 27, 2022 | By RetailME Bureau
Grandiose Supermarket announces country-wide expansion plans

Grandiose Supermarket, part of Ghassan Aboud Group, has announced expansion plan in 

Continue Reading

October 26, 2022 | By Rupkatha B
100 years of Valrhona

The Valrhona journey began 100 years ago with a cocoa bean. Since 

Continue Reading

October 24, 2022 | By Justina Eitzinger
On-demand grocery delivery in 15 mins

Deliveroo UAE has announced the expansion of its rapid grocery delivery service 

Continue Reading

October 24, 2022 | By RetailME Bureau
Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment

The Ministry of Climate Change and Environment (MOCCAE) revealed that the UAE 

Continue Reading

October 17, 2022 | By RetailME Bureau

Abu Dhabi-based leading supermarket chain Lulu Group has appointed investment bankers Moelis 

Continue Reading

October 13, 2022 | By RetailME Bureau




f
Download Images RetailME Magazine