Big data is a relatively new trend that organizations are still attempting to navigate and understand how to leverage effectively. Decision-makers are also trying to better regulate this information and ensure that it keeps with privacy standards while complying with overarching industry expectations. Nowhere is this ‘this governance more apparent than in federal agencies. As these groups attempt to attach more rules to data management, federal organizations must pursue these best practices for a secure environment and to prevent costly data breaches.
Many government agencies are seeking big data strategies to get the most out of their information, but they are also actively looking to hold control over their available assets. The Federal Trade Commission is one group that has sought to implement regulations that will boost data transparency and facilitate a better understanding of what big data is, FCW reported. This type of mindset will empower the government to take a more open approach to big data processes, while ensuring that the public understands who has access to consumer data. A move of this nature may increase an agency’s insights while also boosting trust among constituents.
“The FTC can help create a healthier regulatory atmosphere by critically evaluating the claims of both the pop-science promoters of big data as a ‘magic bullet’ solution and the naysayers who fear massive consumer harm from all-knowing algorithms,” FTC Commissioner Maureen Ohlhausen told FCW.
Regulations help reduce risk
For any essential data, if it’s uncontrolled, it can be vulnerable to damaging consequences like breaches. However, with rules in place for how best to manage this information, government agencies can leverage their data to not only detect dangers, but prevent them before they occur. Bank systems & technology contributor Mike Gross noted that with big data and accrued historical metrics, organizations can generate predictive analytics reports that will detail what elements may be at risk, or are not performing up to standards. As more information is collected and big data tools become more advanced, government decision-makers will able to accurately identify risk and mitigate it effectively, making it an asset for data protection efforts.
“Attackers can take advantage of even the single smallest lapse in security, leaving an organization vulnerable to fraud or the compromise of customer data,” Gross wrote. “Integrating large volumes of customer data seamlessly and in real-time will be an ongoing challenge for large corporations.