Share with your friends










Submit

Analytics Magazine

Five essential pillars of big data GDPR compliance

Less than a year from now, on May 25, 2018, the General Data Protection Regulation (GDPR) will come into effect in the European Union. GDPR represents a significant change in how data will be handled around the world.

In the United States, the 2017 GDPR Preparedness Pulse Survey conducted by PricewaterhouseCoopers polled C-suite executives from large American multinationals and showed that U.S. companies are overwhelmingly aware of, and concerned with, GDPR regulations. Over half of survey respondents cited GDPR as a “top” priority, and 38 percent named it “among” their top priorities. And rightfully so given that fines are applicable to U.S. businesses as well and that the new regulations are relatively complicated and will require significant preparation, not just as an afterthought.

It’s easy to assume that just because a company doesn’t have a physical or significant presence in the EU that the GDPR doesn’t apply, but the text of the regulation makes it clear that any interaction with EU consumer data brings a company under its jurisdiction. If a website simply collects data on EU citizens, the company must comply. In short, GDPR applies to any enterprise in the world that targets the European market in offering goods or services or profiles European citizens.

For companies in big data (or any data for that matter), one of the most daunting things about the GDPR is that organizations have already accumulated massive amounts of data and the regulations apply not just going forward, but retroactively as well. The path towards GDPR compliance for big data organizations begins by identifying the five critical challenges:

  1. Data storage: determining where personal data is stored across multiple different (potentially siloed) data sources.
  2. Aligning teams: Aligning everyone across the company (including IT, marketing, customer support, and data teams) on new policies and execution of any changes.
  3. Accommodating data subject requests: Putting processes in place to accommodate requests from data subjects and ensuring all teams can execute on processes in a timely matter.
  4. Data governance: Ensuring proper data governance, security and monitoring are in place in case of audit.
  5. Adaptability: Implementing agile solutions that keep your operations flexible and easily adaptable to change.

Change is inevitable, and the reality of data protection and privacy regulations is that they will continue to evolve with emerging new technologies. So for all businesses working on GDPR compliance, it’s important to adopt a flexible solution that will change along with future technologies and regulations. This, of course, means choosing a solution that offers access to cutting-edge data science tools and the best of the open source world so that the business can continue to grow and evolve and not be stagnated by regulatory requirements. But it also means finding a solution to data governance and the other challenges presented by GDPR that evolve with those requirements instead of backing your business into a technological corner. This is especially true for companies dealing with GDPR that are not based in the EU, and even more so for those facing Brexit uncertainties.

Related Posts

  • 50
    International Data Corporation (IDC) recently released a worldwide Big Data technology and services forecast showing the market is expected to grow from $3.2 billion in 2010 to $16.9 billion in 2015. This represents a compound annual growth rate (CAGR) of 40 percent or about seven times that of the overall…
    Tags: data, big, will
  • 46
    Many organizations have noticed that the data they own and how they use it can make them different than others to innovate, to compete better and to stay in business. That’s why organizations try to collect and process as much data as possible, transform it into meaningful information with data-driven…
    Tags: data, big
  • 41
    May/June 2015 Web First By David Zakkam and Ankesh Aggrawal Data is exploding. And it is not necessarily a good thing. Organizations feel like they are “drinking water from the fire hose.” There are difficulties, not only in managing data but also in trying to generate benefits from the data.…
    Tags: data, managing
  • 39
    The Panama Papers, the unprecedented leak of 11.5 million files from the database of the global law firm Mossack Fonseca, opened up the offshore tax accounts of the rich, famous and powerful – laying bare how they have exploited secretive offshore tax regimes for decades.
    Tags: data, big
  • 38
    Organizations of all sizes and types are awash in data possibilities, yet most of them cannot capitalize on the potential for a variety of reasons. The good news, however, is that with the right decisions and focus, these possibilities can turn quickly into realized opportunities.
    Tags: data, big

Headlines

Using machine learning and optimization to improve refugee integration

Andrew C. Trapp, a professor at the Foisie Business School at Worcester Polytechnic Institute (WPI), received a $320,000 National Science Foundation (NSF) grant to develop a computational tool to help humanitarian aid organizations significantly improve refugees’ chances of successfully resettling and integrating into a new country. Built upon ongoing work with an international team of computer scientists and economists, the tool integrates machine learning and optimization algorithms, along with complex computation of data, to match refugees to communities where they will find appropriate resources, including employment opportunities. Read more →

Gartner releases Healthcare Supply Chain Top 25 rankings

Gartner, Inc. has released its 10th annual Healthcare Supply Chain Top 25 ranking. The rankings recognize organizations across the healthcare value chain that demonstrate leadership in improving human life at sustainable costs. “Healthcare supply chains today face a multitude of challenges: increasing cost pressures and patient expectations, as well as the need to keep up with rapid technology advancement, to name just a few,” says Stephen Meyer, senior director at Gartner. Read more →

Meet CIMON, the first AI-powered astronaut assistant

CIMON, the world’s first artificial intelligence-enabled astronaut assistant, made its debut aboard the International Space Station. The ISS’s newest crew member, developed and built in Germany, was called into action on Nov. 15 with the command, “Wake up, CIMON!,” by German ESA astronaut Alexander Gerst, who has been living and working on the ISS since June 8. Read more →

UPCOMING ANALYTICS EVENTS

INFORMS-SPONSORED EVENTS

INFORMS Computing Society Conference
Jan. 6-8, 2019; Knoxville, Tenn.

INFORMS Conference on Business Analytics & Operations Research
April 14-16, 2019; Austin, Texas

INFORMS International Conference
June 9-12, 2019; Cancun, Mexico

INFORMS Marketing Science Conference
June 20-22; Rome, Italy

INFORMS Applied Probability Conference
July 2-4, 2019; Brisbane, Australia

INFORMS Healthcare Conference
July 27-29, 2019; Boston, Mass.

2019 INFORMS Annual Meeting
Oct. 20-23, 2019; Seattle, Wash.

Winter Simulation Conference
Dec. 8-11, 2019: National Harbor, Md.

OTHER EVENTS

Advancing the Analytics-Driven Organization
Jan. 28–31, 2019, 1 p.m.– 5 p.m. (live online)

CAP® EXAM SCHEDULE

CAP® Exam computer-based testing sites are available in 700 locations worldwide. Take the exam close to home and on your schedule:


 
For more information, go to 
https://www.certifiedanalytics.org.