More than its recognition as a valuable asset, data has become a vital asset in today’s digital economy. Businesses cannot survive without it. From understanding customer needs to building better products and streamlining operational processes, data plays a critical role in strategic growth plans. Today, businesses generate and collect phenomenal amounts of data, knowing that access is crucial.
As crucial as it is, however, collecting and using this personal data requires the consideration of several privacy concerns. With regulations continuing to evolve and come into force to govern the use of personal data and increasing compliance requirements being placed on businesses, this is the time to start measuring data privacy risks and fostering a culture of openness around privacy risks in order to avoid the costly repercussions of privacy breaches, retain consumer loyalty and drive data-driven strategies forward with confidence.
Turn to automation
If carried out effectively, personal data can be both protected and leveraged to preserve the goals of revenue-generating strategies. By intentionally removing re-identification risks in datasets, businesses can confidently, and compliantly, turn insights into action. However, data privacy risks cannot be mitigated if they cannot be measured, and it is this privacy risk measurement that has become a bottleneck problem for businesses around the world.
The scale of data calculations required to effectively measure privacy risk is more complex than ever before due to the volume of data being handled. This is why businesses are now leveraging automated solutions that can measure privacy risk at scale. By deploying a purpose-built solution, like Trūata Calibrate, in existing Azure environments, businesses can seamlessly measure and mitigate risks in hours rather than holding up data analytics for days and weeks at a time.
Measure your privacy risk
To accurately assess and address data privacy risk, it is crucial that businesses can first both identify and quantify the risks. It is this quantitative measurement that sits at the core of Trūata Calibrate. Our ground-breaking Fingerprint technology automates the statistical analysis of datasets to identify and quantify risks.
It is the hidden risks that cause even the most cautious businesses the most damage, which is why our technology scans and surfaces both the direct and indirect re-identification risks (singling out risks, inference risks and linkability risks) in your data. It then serves up quantitative risk scores in an easy-to-use dashboard and pinpoints exactly what risks exist and where those risks are, so that you can make objective decisions about risk mitigation.
Mitigate your privacy risk
Having access to standardized risk scores that support the most stringent regulatory requirements ensures that businesses have a clear understanding of their privacy risks and enables them to prioritize the right mitigation strategies so that they can transform data for safe use.
Not only does Trūata Calibrate take care of the risk measurement, but it also provides recommendations on how identified privacy risks can be mitigated and performs forensically-targeted privacy risk reduction to minimize those risks and maximize data utility based on the context of data use.
Analyze your privacy-compliant data
Tapping into one solution for the seamless measurement and mitigation of data privacy risk enables businesses to work with privacy-compliant data at speed and at scale. By leveraging automated privacy-enhancing technologies, businesses can empower data governance and privacy teams to confidently take control of privacy risk with a streamlined and accessible approach that not only removes the complexities of privacy risk assessments but satisfies regulatory requirements and autonomously creates a trail of compliance. This is a future-proofed strategy that facilitates productive dialogue between data-driven business leaders and analytics teams, and accelerates speed to insight to propel growth and innovation strategies.
Given growing consumer concerns over data privacy and the rapid evolution of global privacy regulations, we can confidently predict that the swift and smart handling of data privacy risks will become even more critical to business success as we dive deeper into the data decade.
Get in touch today to learn more about how Trūata Calibrate can work for your business needs, or dive deeper into the business-wide benefits of plugging a privacy risk assessment tool into your data stack.