Wrangling Big Data for Compliance

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3710800613_f6ecc558b0_nby Angela Guess

Karen Kroll of Compliance Week recently discussed the challenges that Big Data presents to Compliance Officers and what those officers can do to wrangle in their company’s data. She writes, “To effectively manage their organizations’ data streams, compliance officers need to first work through their colleagues’ resistance and lack of understanding. Many departments may be nervous about sharing their data practices—or lack thereof—with compliance, worried that they will be singled out for having mishandled their responsibility. That’s especially the case when the compliance department historically has been seen as the ‘corporate cop,’ says Michael Rasmussen, chief GRC pundit with research firm GRC 20/20 Research.”

She goes on, “Complicating this is the fact that employees outside the compliance, legal, or data security areas may lack an understanding of the risks data can pose. ‘Companies are collecting and amassing data, in many cases without a clear vision of why or what to do with it, nor the liabilities or opportunities it presents,’ Determann says. Politics also plays a role in making it difficult to break down a siloed approach to data management. ‘People want to protect their turf,’ Rasmussen adds. To gain buy-in, compliance also needs to let employees know how solid data management practices can make their jobs easier, says Jesse Wilkins, director of research and development with AIIM, a global group for information professionals. ‘Answer the question, ‘What’s in it for me?” For example, proper data management should make it easier and more efficient for workers to access updated, accurate information.”

Read more here.

photo credit: mikebaird

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