Is decentralising data the key to unlocking better analytics and enhanced privacy? In today's data-driven world, organisations face numerous challenges in managing and analysing vast data. This piece explores the potential of decentralising data to address these challenges and offers a balanced strategy for leveraging local analytics while ensuring data privacy and compliance. Before discussing these challenges, understanding how data can be broadly categorised would be helpful.
Understanding Data: Personal vs. Non-Personal
Data can be broadly divided into two categories:
Personal Data: Includes names, phone numbers, addresses, gender, and age. Interestingly, national identity number is only considered personal data if combined with other identifying elements.
Non-Personal Data: Includes public records, weather data, market data, and other datasets that do not identify individuals.
With the rise of global data privacy and security laws, obtaining valuable yet highly sensitive personal data has become increasingly complex for corporations. For example, mobile device data revealing the types of apps installed and usage patterns are deemed sensitive by platforms such as Google Play Store. However, such data is critical for creating better customer experiences and delivering targeted services. So, what should be the right approach?
The Balanced Approach: Decentralisation and Insights
The solution lies in adopting a balanced strategy: decentralising highly sensitive personal data, performing analytics on this data locally, and delivering insights without sharing the raw data. This approach allows companies to:
Combine consented personal data with non-personal data to deliver richer customer experiences.
Comply with stringent privacy regulations while maintaining data utility.
Reduce risks associated with centralised storage of sensitive data, such as breaches or misuse.
The benefits of this approach:
Enhanced Privacy: Decentralization minimises the exposure of sensitive data by keeping it on the source device or system.
Improved Compliance: This ensures compliance with global and local privacy regulations, such as GDPR, CCPA, PDPA, and Decree 13, etc.
Operational Resilience: Reduces the risk of catastrophic data breaches by eliminating single points of failure through centralising all data.
Increased Trust: Builds customer confidence by demonstrating a commitment to privacy and security.
Scalability: Facilitates data processing closer to the source, reducing latency and bandwidth requirements for analytics supporting real-time decision-making
Statistics
Data Privacy: "According to a recent study by Gartner, 85% of organisations believe that decentralising data can significantly improve their data security."
Operational Resilience: "A survey by Forrester Research found that companies implementing decentralised data strategies experienced a 30% reduction in data breach incidents."
Compliance: "Research by IDC indicates that 78% of businesses find it easier to comply with global privacy regulations when they adopt decentralised data management practices."
By decentralising data and enabling localised analytics, organisations can achieve a win-win outcome: enhance decision-making capabilities while safeguarding customer trust and meeting compliance standards.
Unified Intelligence’s Innovation: Privacy-Enhancing Technologies
At Unified Intelligence, we have developed patent-pending privacy enhancing technologies that empower corporations to:
Gain actionable insights without compromising data privacy.
Harness the power of decentralised data management and analytics for better decision-making.
Achieve a competitive advantage in an ever-changing digital landscape.
This innovative technology facilitates the use of personal data to obtain granular insights while ensuring privacy compliance, helping businesses effectively navigate the complexities of data management.
Call to Action
As the digital world evolves, the debate over decentralisation in data management and analytics will only intensify. Organisations must weigh the benefits of enhanced privacy and compliance against the operational complexities of decentralised models. Unified Intelligence’s privacy-enhancing technologies offer a pragmatic solution, enabling companies to unlock the full potential of their data while safeguarding privacy.
The future of data management lies in achieving harmony between innovation and responsibility. Decentralisation, powered by privacy-enhancing technologies, is not just a trend but a necessity in navigating the data challenges of tomorrow.
Are you ready to embrace the future of data management? Connect with us to learn how our innovative and future proofing solutions can transform your approach to data and analytics.
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