For its relatively small geography, Britain is a populous nation. There are more than 68 million people on these shores, making up more than 28 million households. Fifty thousand people also up sticks and switch addresses each week. Over the course of a year, circa 600,000 people in the country die.

This on-the-move, constantly shifting population is what data management services are aiming at. “We’re trying to create a definitive view of UK consumers,” says Alan Clay, head of strategy and customer data solutions at LexisNexis Risk Solutions. “Ours is really, really good. But no population view can ever be complete, because the population never stays still. Even the best data management inevitably lags behind reality.”

Regulation of data in the UK is also tight. Companies operating in the UK most consider their obligations under GDPR. Then there’s the more recent Financial Conduct Authority’s (FCA) Consumer Duty to consider, which requires firms to "act to deliver good outcomes for retail customers", act in good faith, and avoid causing harm.

The duty puts the onus on companies to demonstrate they are doing the best they can to serve customers, especially vulnerable ones, and putting things right if there are problems. It applies to all businesses with a role in delivering retail customer outcomes, including energy and water companies. Since good quality data plays a vital role in effective customer service, failure to maintain standards has the potential for companies to be penalised by the FCA.

“The regulatory aspect for data in the UK is really multifaceted,” explains Katarina Pranjic, head of regulation & policy, UK&I, LexisNexis Risk Solutions. “And it continues to evolve. There are several key legislative frameworks businesses must navigate.