As organizations continue to engage in more data analytics initiatives, stakeholders need a better solution to ensure that information is collected and accessible – not to mention secure. With continual and upcoming changes to industry compliance rules, making sure data collection and analysis processes align with industry rules is an uphill battle. Thankfully, there is a solution: a centralized data lake that can streamline analysis while supporting compliance.
1. Put an end to fragmented data
One of the biggest issues with big data and compliance takes place when companies have several different storage systems for their sources and information. This creates considerable headaches with security and compliance needs – if sensitive data ends up in an insecure database, it can put the organization at risk of noncompliance.
"An insecure database can put organizations at risk of noncompliance."
Storing data in an array of different systems can also prevent companies from responding to governing bodies on time. If law enforcement agencies request specific information in connection with a subpoena request, for example, the business must be able to provide this data as quickly as possible.
A centralized data lake ensures that unorganized, siloed data doesn't hamper an organization's ability to align with compliance needs. With this resource in place, analysts and decision-makers can ensure that information is properly secured at all times, and is easily searchable.
2. Ensure access to those who need it
Compliance rules – including the European Union General Data Protection Regulation that will go into effect in May 2018 – require businesses to maintain a secure database and prevent access to any unauthorized individuals. This could extend to those inside of the organization without the necessary clearance or credentials, as well as outside malicious actors.
Having a centralized data lake in place enables project stakeholders to safeguard access to sensitive data while still ensuring that analysts can utilize the information they need. Companies should seek a data lake solution that provides granular controls, including the creation of unique usernames and passwords for each user.
Such a solution also ensures that administrators and managers can securely access information for audits. This is particularly critical for providers in the financial services space, who need to complete regular audits for industry compliance and to detect fraudulent activity.
3. Support more up-to-date analysis
Efforts to maintain compliance can also falter when the entirety of an organization's data – including the most recently gathered information – isn't included in security considerations or audits. Legacy solutions can take days or even months to enable access to new sources of data.
An advanced, centralized data lake, on the other hand, allows analysts and authorized users to view new data in a matter of hours. In this way, nothing falls through the cracks when it comes to security and compliance requirements, including the company's newest data sources.
Overall, a centralized data lake helps eliminate silos while providing greater flexibility and security for all of a business's informational assets. A single, shared repository of this kind is essential in the current analytics environment, and requires certain expertise.
To find out more about how a centralized data lake can meet your organization's specific compliance needs, contact the experts at Unifi today.