EDITOR ’ S QUESTION obligations ; reduces the likelihood of financial penalties , legal actions and operational disruptions
• Enhanced Reputation – builds trust and credibility with customers , partners , investors , and the public ; enhances a company ’ s reputation and brand value
• Operational Efficiency – improved processes and systems ; reduces waste and / or inefficiencies
• Competitive Advantage – can differentiate from competitors who may have a history of noncompliance ; attracts clients and partners who value ethical and responsible business practices
• Market Access – prerequisite for entering certain markets or industries ; companies that meet regulatory requirements can access new business opportunities and expand their market reach
• Customer Trust and Loyalty – data protection and privacy regulations compliance can increase customer trust and loyalty ; demonstrates a commitment to safeguarding their information
• Employee Engagement – can foster a positive work environment ; leads to higher employee morale , engagement , and retention , as employees feel they are part of an ethical organization
• Avoidance of Disruptions – business operations will not be interrupted by regulatory actions ; allows focus on growth and innovation
• Investor Confidence – can attract investors who are looking for stable and reliable companies ; increases the likelihood of securing funding and investment
• Long-term Sustainability – environmental , social , and governance ( ESG ) standards compliance ; contribute positively to society and the environment
But it ain ’ t easy .
Every sector has its own labyrinth of regulations to navigate – from HIPAA in healthcare to GDPR in Europe and SEC rules in finance . One customer described it to me as trying to solve a puzzle , where the pieces keep changing shape – paints a picture doesn ’ t it ?
About 80 – 90 % of all data generated today is unstructured , and it ’ s growing at a rate of 55 – 65 % per year . Think emails , documents , images and social media posts … this type of data is notoriously difficult to manage , unlike structured data which sits prettily in organized formats – like databases .
Yet , hidden within our exponentially growing stores of unstructured data is oftentimes exactly the information that organizations need in order to comply with regulations .
So , like it or not . . . companies are now finding that the ability to get their arms around their unstructured data walks arm-in-arm with their ability to comply with regulations .
Turning regulations compliance into a value-add was already a tough sell . . . and now the complexities and cost of managing unstructured data has been added to the mix .
The regulatory landscape is complex , that ’ s true . However , like so many other situations in life , if you handle it well , you can flip it to your advantage . Simply by viewing and treating compliance as more than just a cost , hurdle or headache organizations can unlock new value , build trust and position themselves nicely for even greater success .
About 80 – 90 % of all data generated today is unstructured , and it ’ s growing at a rate of 55 – 65 % per year .
Here are some practical tips on how to get started :
• Invest in flexible , comprehensive solutions – Seek solutions that provide complete visibility into your unstructured data landscape – especially those that provide customizable reporting and policy-based data management .
• Implement robust data organization – Proper tagging and classification of unstructured data is crucial , as it not only helps with compliance but can also make your data more accessible and valuable for business intelligence .
• Foster a compliance-aware culture – This isn ’ t just about annual training sessions – it ’ s about integrating compliance considerations into daily operations and decision-making processes , especially when it comes to handling unstructured data .
• Leverage compliance for competitive advantage – Use your robust compliance processes as a selling point , especially in B2B contexts where data security is a major concern – meaning , how you manage and secure unstructured data can turn into a major differentiator for your organization .
• Think proactively , not reactively – Instead of scrambling to meet new regulations as they emerge , build systems flexible enough to adapt to changing requirements – which is particularly important for unstructured data , where the volume and variety of data types continue to grow .
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