With the recently unleashed WannaCry ransomware attacks targeting computer systems globally, a number of Data Summit 2017 sessions looked at the need for smarter approaches to data governance, security, and changing regulatory requirements.
Here are four key takeaways:
1-Embrace automation: Anybody who is still doing their updates manually is living in the dark ages. It is time to have your systems update automatically. — Michael Corey, director, cloud computing evangelist, Spectrum Enterprise Navisite
2-The new EU GDPR data security mandate: The GDPR is a regulation by which the European Parliament, the Council of the European Union and the European Commission intend to strengthen and unify data protection for all individuals within the European Union. If you have a company in the U.S. and have one client that is located in the EU, you will be bound by the EU GDPR and must report a hack within 3 days to your users, once you become aware of it, a stark contrast to how some data breaches in the U.S. are handled. — Don Sullivan, product line marketing manager for Business Critical Applications, VMware
3-Using data sharing to mitigate fraud: When people think of fraud, stolen credit card credentials come to mind, but fraudsters have developed new and innovative approaches to monetizing data about companies and individuals. A common and hard to detect fraud approach is create a fictional small business whose legitimacy may hard to verify for service and product providers. A new approach uses Lucene, a text matching engine, and data from a range of sources, including demographic information, information from a specific request, publicly available internet data, and the rating of risky words versus less risky indicators. — Greg Bonin, chief operating officer, Exchange Services, XOR Data Exchange
4-The role of governance in analytics: Analytics in the marketplace is being used to determine how people use things and what they like in order to keep customers constantly engaged. This creates a problematic atmosphere as laws struggle to keep up with ensuring consumer privacy. Lines are being constantly crossed when algorithms collect precarious information without a person knowing their data is being collected. — Linda G. Sharp, associate general counsel at ZL Technologies, and Bennett B. Borden, chief data scientist at Drinker Biddle & Reath
Many conference presentations have been made available by speakers at www.dbta.com/datasummit/2017/presentations.aspx.