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The Data Story
Every byte of data has a story to tell. The question is whether the story is being narrated accurately and securely. We focus sharply on the trends around data with a goal of revenue acceleration but commonly forget about the vulnerabilities caused due to bad data management. Data possesses immense power, but immense power comes with increased responsibility.
In today's world collecting, analyzing and build models to predict future around data is simply not enough. Not only should the data processors and controllers handle the data securely whether it is at rest or in transit, they should legally notify the involved parties as soon as a breach has been detected. Until recently businesses have focused on looking at data over long stretches of time, made possible by Big Data. With the advent of Internet of Things (IoT) analyzing real-time data has gained immense importance as well. However the consumer is finding it difficult to balance the benefits they get from surrendering personal data against the risk involved with providing them. A right balance needs to be met.
We are in times where history is being made. While giants like Facebook, Google and other are looking at innovative ways to collect, handle, use and share data the legislators are drafting and enforcing new regulations around data privacy and ownership. Legislation like the European GDPR attempts to define the legal accountability of data controllers and data processors. The regulation put greater focus on ata governance polices around personal data portability, retention and destruction.
We at Datafence are trying to help customers come up with the correct blend of data innovation and data governance in a security-conscious world. As the use of machine learning and artificial intelligence gains strength we help our customers adopt frameworks like Privacy by Design to make their future data roadmaps simpler as well as cost-effective.