With several hot topics surrounding IT at the moment there are two which have been gaining momentum – Data & Analytics and GDPR. Unsurprisingly, the key driving force is that good data is turning into more of a goldmine than oil extractions in the modern age. (As explained in this article in The Economist: http://www.economist.com/news/briefing/21721634-how-it-shaping-up-data-giving-rise-new-economy)
As the figures show, people desperately want to understand their data more, in terms of protection and maximising the information they have access too throughout this personalisation, identifying people and understanding customers is paramount to the economy in 2017.
As referenced in this blog http://www.bankinfosecurity.com/blogs/data-privacy-after-brexit-keep-calm-gdpr-on-p-2453.Â
“For anyone not acquainted with GDPR, it’s already law, but not due to be enforced until the May 25, 2018, deadline. And Britain’s data privacy watchdog, the Information Commissioner’s Office, has made it clear that Britain – as with all 28 EU member states – must comply with GDPR by that date, or face the threat of related enforcement and fines.”
For those who think that another hot topic, Brexit, will interfere with GDPR, Matt Hancock, the U.K.’s minister of state for digital and culture, told the House of Lords EU Home Affairs Subcommittee on Feb. 1. that ensuring U.K. businesses can still collect and store Europeans’ personal information will require that “an appropriate data protection environment” – signed off on by the EU – would have to be agreed and in place by “the morning we have left the European Union.”
This means that GDPR is here to stay, provided we as a nation want to sell to some business in the EU, then we will all need to remain compliant. Many organisations are naturally, panicking as 1/3 have said that they will not be ready in time. The new legislation empowers customers with rights to receive detailed information on every piece of data an organisation holds on them, this must be delivered to specific SLAs and they must be notified of any breaches concerning their data.
This means, your organisation as of May 2018, must know where every piece of data is stored, in every department and it can be pulled out and reported on at a moment’s notice. If this sends you into panic mode then you are two things at this moment: 1) Underprepared for GDPR and 2) sitting on a goldmine of data about your customers which can help drive your profit margin.
At risual, we have been focusing on these two points in isolation, our Data & Analytics (http://www.risual.com/data-analytics/) page covers the benefits of getting the most from your customer data and our security page (http://www.risual.com/security/) covers the risks of losing it and how it can happen.
As an organisation you can have a unique opportunity to hold a company-wide view of your customer data, we can help you not only secure it and manage it safely, but also enable you to break down the silos holding this information and report on it accurately, securely and in real time.
This means with one project you are working to prevent large fines headed your way for failure to comply with GDPR, as well as improving your customer service, business processes and profits by better understanding your customer by interacting with this previously locked away data.
Above: Get compliant and get smart with Data, Microsoft & risual’s approach to data governance
At risual we are unique in that we have a heritage of skills in both data analysis and data security, working in separate teams orchestrated by an architect. We can offer a full data architectural design session for a low cost, to set you on your journey to become a modern data-first organisation by May 2018.