Data is multiplying at a mind-boggling rate and driving market opportunities and economic growth in unprecedented ways. To stay competitive, companies need to unlock the full value of data while also focusing on its secure and ethical use. Decision makers and automated systems driving decisions need data to be organized and trustworthy in order to deliver outcomes and meet market expectations.
Without clear guidance, case law or regulations, some companies have forged ahead in data use, and have dealt with the consequences afterwards. Laws and regulatory guidance are changing rapidly, requiring fresh attention to emerging data policies. It’s clear that traditional approaches to data and information governance need an upgrade. Organizations must foster not just accurate data but a commitment to data trust.
This brings complex questions:
The answers require knowledge in data science, data governance, data technology, algorithmic analytics, public policy, cybersecurity and business strategy. Trusted data leaders also need the ability to apply risk management principles and understand an evolving and complex legal and regulatory landscape.
It’s a high bar -- and the landscape will continue to evolve. But PwC can help execute these strategies to position companies to manage the current risks and become more agile for the future.
Our data use webcast series explores the data trust challenge in live webcast conversations among PwC professionals and specialized industry experts. Replays are available for each part, below.
Part I: The proliferation of data and need for governance.
Part II: A strategic framework approach to data as a business enabler.
Part III: How organizations use data responsibly in the current compliance landscape.