Holistic Enterprise Level Data Governance for GDPR Compliance
Organizations that have strong fundamentals and derive their strength from integrity and transparency can generate a solid sense of trust from the customers for the company. With several digital and technological advancements happening in today’s world, organizations need to swiftly adapt to these changes to stay competitive. Organizations are evolving away from their traditional style to adopt a more agile and digitally optimal approach to capture and store data.
In today’s information-driven economy, it is essential to efficiently utilize and safeguard information as it is a vital asset in itself. With quintillions of megabytes of data generated every year containing information about user’s personal, financial, and health aspects, the organizations must rely on established risk mitigation and security systems to manage this information.
Personal Identifiable Information (PII) proliferation has increased tremendously as well as the ways to collect it with the advent of new technologies and devices. With a steep rise in personal data generation and the evergrowing risk of incidents has led to formulation of new regulation like GDPR for personal data protection.
What is GDPR?
The exponential spread of PII has led to governments and regulators to create new regulations to ensure protection of personal data and mitigate risks. The landmark regulation on data privacy protection related to PII is GDPR which will be implemented from May 25, 2018.
General Data Protection Regulation (GDPR) aims to synchronize data protection policies pertaining to personal information across all the member states of European Union (EU). This regulation will give greater flexibility and control to EU citizens to protect their data and streamline the data protection process by having a consistent and synchronized regulation throughout EU. Non-compliance with provisions made in the regulation will attract a fine of 4% of global turnover or 20 million euros, whichever is higher.
Prominent Provisions in GDPR for Data Protection:
nayaEdge Consolidates GDPR Provisions and Mitigates Challenges
Extensive Data Consolidation along with Searching Capability nayaEdge provides different types of connectors that can capture data from varied sources along with automated categorization process to leverage data classification. Robust searching capability can help extract valuable and relevant information from large pools of data.
Effective Discovery of Information along with Purge and ExportnayaEdge can help organizations to retrieve data from very large data repositories. If the data subject wants to invoke RTBF provisions, then data can be efficient retrieved and deleted. Similarly, data can be exported to required destination and then discarded.
Risk Mitigation through Data PreservationnayaEdge benefits the organizations by reducing the risks through Legal Hold process. Classified data from the Stores can be searched and put on legal hold for a specific period of time providing high defensibility against purging of data.
Full Regulatory ComplianceDealing with huge volumes of data, organizations have to comply with various industry regulatory compliance rules and regulations. In nayaEdge, the data is fetched from various data sources based on compliance criteria which are then reviewed for any compliance violations that can lead to legal implications or penalties.
Robust deployment of nayaEdge into an organisation will accommodate several of the fundamental tenets of GDPR namely accountability, reportability, searchability, purgeabliity and portability. nayaEdge also demonstrates good information governance by design as it improves security and consolidates dispersed data silos.