While data management is no new topic and has been the focus of regulations old and new, the controls required to keep the information secure and private (to the extent the users want), and in a distributed environment is what is making effective management of data more complex. A number of recent headlines are validating this context.
I recently attended our EMEA Cyber Summit, where we were talking about similar challenges and trends in the industry and how cyber is becoming more relevant than ever.
Here are some of the options we recommend exploring when it comes to data management challenges:
Higher expectations for data quality: Although new requirements have slowed, regulator expectations for data quality has been elevated. This should be reflected in how organisations manage data quality. Investing in analytics to enable improved data quality and automation.
Establishing Centres of Excellence (CoEs): These CoEs provide resources to support coordination, global consistency while enabling the regions are able to easily tailor solutions to address local needs.
Simplification, rationalisation and automation: Simplifying, rationalising and automating risk and compliance systems and activity to enable a more sustained approach.
This is a topic of increasing importance, so stay abreast of the latest analysis at our Cyber Risk hub.
Particularly in the wake of the Cambridge Analytica controversy, consumers’ trust in the companies that operate those services to keep their private data secure has been shaken,” today’s letter reads. “At the same time that Facebook was learning the important lesson that tech firms must be forthright with the public about privacy issues, Google apparently elected to withhold information about a relevant vulnerability for fear of public scrutiny.