5 best practices to deliver trust in your data project: Tip #5 Enforce regulatory compliance with good data
During Summer, The Talend Blog Team will relay to share fruitful tips & to securely kick off your data project. This week, we’ll start with the fifth capability: empower organizations with modern tools and systems to manage and monitor data
Enforce regulatory compliance with good data
Data regulations require organizations to increase control over their data assets, which in fact can lead to business benefits beyond regulatory compliance.
A robust data governance program is pivotal to any data protection or compliance legislation such as CCPA or HIPAA in the US, the Banking Royal Commission in Australia or GDPR in Europe. The traditional data governance disciplines of data ownership, metadata management, data quality management and model governance fully apply.
Why it’s important
If you want to follow the new data governance regulations, you need to master data compliance. Non-compliance with the GDPR, for instance, may result in a penalty of 4% of the organization’s worldwide revenues, and we are now regularly hearing about record fines for data privacy violation. GDPR is just one of many regulations on data assets popping up across regions and industries, forcing organizations to increase their data controls.
When it’s important
The GDPR went into effect on May 25, 2018, while similar regulations are coming in 2020 across United States, Brazil, Australia, Chile, and India. Organizations have to consistently raise the bar for data compliance across all those regulations whether they are industry-specific or region-based.
Our recent data trust readiness report reveals that 52% Management level employees are very optimistic about being prepared with data privacy regulations whereas 39% Operational data workers are less optimistic.
Data Trust Readiness Report now.
How Talend tools can help
Talend provides modern tools so that anyone in a company can embrace data management the modern way, including data cataloging to create a data inventory or personal data with end-to-end lineage across the data landscape ; data quality management and reconciliation to create customer and employee 360° views ; data integration and API to address the data subject access rights such as data access, portability, rectification, or deletion ; data protection and anonymization…
In its latest release Summer 19, Talend enhanced data protection and anonymization capabilities both in technical applications (Talend Studio) and business data applications (Talend Cloud Data Preparation). Users can now encrypt or decrypt across any dataflow, together with advanced options for masking such as the new mask/unmask option. Since this feature uses FPE, data relationships are maintained once data is masked. This is a great feature to protect any sensitive data such as PII or PHI data.
If you want to explore technical masking, there is a great post for you where our product manager for Data Quality takes a deep dive on #DataShuffling techniques.
It's all the more significant as new regulations such as CCPA come into play.
A governed data lake could represent a good solution to control your data. The purpose of a Data Lake is to provide full and direct access to raw (unfiltered) organizational data as an alternative to storing varying and sometimes limited datasets in scattered, disparate data silos. Once data is gathered in one central place, you can scan PII data using powerful meta data management capabilities of a data catalog. It will help you to mask it automatically, secure your data pipeline and prove that you take control of PII or PHI data in the event of an audit trail.
How to get started
Too many organizations believe they established strong data governance programs through policies, workflows and procedures, but are failing to connect with the actual data. A Talend survey has shown that among companies claiming GDPR compliance in their legal mentions, only 30% could deliver on their promise to fulfill the data access requests. Make sure processes and effective data governance are in place as you’ll need to be responsive in the context of audit trails, data breaches, data subject access rights, and complying upcoming regulations.
Want to explore more capabilities?
This is the fifth out of ten trust & speed capabilities. Can't wait to discover the next capability?
Download our Trust Data Readiness Report to discover other findings and the other 9 capabilities.
Feel free to attend our upcoming webinar about governance. Join Talend and Prolifics on September 25th, 11 am PST to discover how a strong, carefully considered data governance program can help you stay ahead of new regulations like CCPA, and also enhance customer experiences with trusted data.