How to Mind the Data Quality Gaps and Improve Regulatory Compliance
Data quality isn’t just crucial for making good decisions – it’s actually required to maintain regulatory compliance. Today, customers can ask to see their data and correct it. That can be challenging, as the volumes of information that companies process are overwhelming.
Trillium DQ for Big Data helps companies stay compliant with regulations while maintaining data quality. Read on to learn about how overcoming gaps in your data quality no longer needs to be a headache.
Regulations and Data Quality
One example of a regulation that relates to data quality is GDPR. Enacted in May 2018, GDPR is a sweeping piece of legislation that not only applies to the European Union (where it was enacted), but to any company that has data belonging to EU citizens. The penalties for not following GDPR are harsh – you can be fined up to €20 million.
Under GDPR, EU citizens have a right to ask companies to review the personal data these firms hold. Moreover, individuals in the EU can ask businesses to fix incorrect information. Additionally, if companies face the unfortunate case of a data breach, they must notify affected customers. If you don’t have the right contact details for someone, you can’t fulfill your legal obligation.
Trillium DQ for Big Data: Filling Data Quality Gaps and Improving Regulatory Compliance
Fortunately, there’s a powerful tool on the market that ensures companies not only fill data quality gaps, but also improve and maintain their regulatory compliance. Trillium DQ for Big Data profiles, cleanses, standardizes, and matches information to enhance data quality.
Trillium DQ for Big Data is entirely automated. Automation saves time and effort, but more importantly, it allows you to meet SLAs and regulations regarding data quality processes. Going back to the example of a customer who requests that you give him access to his information, Trillium DQ for Big Data enables you to perform that task quickly. Should there be an error in that information, you can fix it speedily, too.
This solution works on-premises and in the cloud so that you can understand and govern your information regardless of its location. With better data governance, you can address regulatory concerns (such as the ability to quickly access and correct customer data).
Thanks to its matching abilities, Trillium DQ for Big Data can locate multiple records for a given entity so that they can be consolidated. From a business standpoint, you have greater insight into your customers; from a regulatory standpoint, you no longer have multiple records floating around, making it simpler to address customer concerns.
No one can afford regulatory fines. Trillium DQ for Big Data fills in those data quality gaps so that you can avoid paying hefty penalties (such as those for violating GDPR).
To learn more about Trillium DQ for Big Data and how it can help to provide your business you’re your Big Data quality challenges, download the product sheet or watch our webcast, where we’ll introduce you to Trillium DQ for Big Data’s capabilities and discuss how you can use Trillium DQ for Big Data in a variety of use cases that help drive your business forward.