Big Data and Data Analytics are changing the way the world uses business information. The amount of data that’s created and stored daily on a global level is almost inconceivable as with each passing hour, the data grows at an amazing pace. Everything from the most trivial details of our personal lives to highly sensitive information at work is now stored and catalogued. While businesses look for ways to leverage, manage and derive insight from this vast amount of information, they also need to think hard about satisfying privacy, security and compliance all at once. This is not a trivial job, and many businesses struggle when attempting to roll Big Data and Data Analytics into a production enterprise scenario.
These days, all types of data are routinely collected whether we are at work or when we shop, use public transportation, visit our healthcare provider or access government services in person or online. Data is collected when you access highly sensitive company information, when you localize this data to your laptop or send it home to work on it remotely. Data is collected when you obtain a Medicare refund, book a flight or shop online. Data is collected when you do anything electronically.
While the proliferation and maturation of Big Data, Data Analytics and information technology is aiding businesses, if not properly implemented, it can also hurt them. All of these data collected and stored can also reveal highly sensitive information.
Below are some ethical, security, privacy and compliance guidelines that require additional consideration when businesses are looking to use Big Data and Data Analytics:
1. Disclosure – businesses must disclose what is collected and how the data is used.
2. Privacy & Confidentiality – individuals have a right to control who can access their personal information and businesses must carry the burden of confidentiality to ensure that only authorized persons have access to this information.
3. Ownership – individuals have the right to control their personal/private data. Businesses that collect user data have the responsibility for the data as long as it is within their possession.
4. Data sharing – businesses must carry the burden of the security and governance of data keeping in mind that data shared with another entity may need to be revoked or rendered useless at a later time.
5. Governance and custodianship – businesses must secure the data and control access utilizing usage policies and tracking.
The rapid technological advances in our society are creating more and more ways for businesses and customers to benefit from them. However, the same advances are putting sensitive data at risk. Businesses can benefit from implementing a comprehensive data security framework along with Big Data and Data Analytics to better understand what sensitive data they possess, maintain complete control and custody of that data and to monitor and analyze their risk in owning and using the data.