A CIO challenge:

Data integration in a
regulated environment

Samantha’s dilemma

Samantha’s dilemma

Samantha Grant had been expecting the Chief Compliance Officer’s email on Thursday afternoon. That day, the government had passed a data privacy law sure to affect the operations of the global bank at which she served as CIO.

Imposing severe restrictions on personal data, with heavy fines for noncompliance, the law would complicate the company’s plans for data-driven marketing and product development.

The CCO’s note asked Grant if the bank was in compliance and, if not, what changes would be needed. He needed an answer by Friday.

Grant almost laughed at the simplicity of the questions.

With retail, corporate, and high net-worth private banking operations spread across six continents, they’d already struggled to integrate data across many disparate systems, while unifying and increasing the efficiency of its storage. Now, with this new law, they’d need to revise their strategy to store personal data “no longer than is necessary.” Further complicating things, much of their data was unstructured, and Grant hadn’t yet quite figured out how to use it, let alone assess it for regulations compliance.

Meanwhile, the marketing team urgently needed insights from that data to help personalize customer engagement and to inspire new products and services.

Grant considered her position. She was one of the longest-tenured CIOs in the industry and had seen it all, but knew that the amount of data coming in was far greater than at any time in the company’s history. The CEO referred to data as a new “natural resource,” and she agreed.

Key point* Janofsky, Adam. "U.K. Information Commissioner on GDPR: 'Go Back to the Basics.'" Wall Street Journal. May 25, 2017.Having read that 75% of companies would struggle to meet data privacy laws in the next year,* Grant knew she wasn’t alone. Simultaneously maintaining customer privacy, complying with new regulations, and enabling data-driven customer insights was a challenge that would dominate her department’s time over the coming months.

Should be easy, right? Samantha chuckled as she stared at her blank response to the CCO.

Integration and governance

Integration and governance

While Grant struggled with that email, she started to break down the challenges she faced. First, she knew that to better understand her data, she’d need to better access it all, across the many silos in the organization. It was time to update her data strategy.

What do you think?

Is data integration and governance an issue for you?

% of respondents agree

% of respondents disagree

Yes.

In the midst of multi-vendor cloud services, traditional enterprise apps that may or may not be integrated with cloud-based systems, and the explosion of unstructured data, this is a challenge for many. The right solution can integrate, secure and govern all types of data, from any source, across a hybrid on-premises and cloud infrastructure.

Read more about data integration and governance across hybrid IT

No.

Congratulations! It’s a rare organization that doesn’t struggle with accessing, integrating and governing the great amounts and varieties of data constantly streaming in. You may want to consider whether you’ve considered all vital data sources, however. Many overlook social media posts, online reviews, and other data in which vital customer insights reside.

Learn more about 5 data sources IT leaders overlook

Enabling business users

Enabling business users

With her data under control, Grant would need to enable authorized marketing users to connect to it and extract the types of customer insights needed to compete in a very competitive banking industry.

What do you think?

Are you enabling your users to access the data they need?

% of respondents agree

% of respondents disagree

Yes.

Fantastic! With data needs continually changing, a good practice is to periodically assess whether those needs are still being met. You’ll want to ensure that your approach covers all data types and sources, and enables application of deep analytics, AI and cognitive capabilities.

Keep reading to learn more.

No.

A great way to get started is with a cloud-based, smart data discovery solution. A strong data platform can enable all users to securely connect to data sources; prepare, transform and classify data; and deliver insights through deep analytics, AI, and cognitive capabilities.

Keep reading to learn more.

Optimizing storage

Optimizing storage

All this data needed to be stored more efficiently, and in compliance with the new regulations. For Grant, this proved to be a particularly thorny and urgent challenge.

What do you think?

Do you have complete confidence in your storage solution?

% of respondents agree

% of respondents disagree

Yes.

Excellent. The next step is increasing efficiency with storage that self-optimizes based on cost, access frequency, network latency, and compliance needs.

Keep reading to learn more.

No.

You can gain confidence with a solution that optimizes storage on premises, around the world, or in the cloud, based on cost, access frequency, network latency, and compliance needs.

Keep reading to learn more.

Next steps

Image of a group of business men and women sitting around a table having a discussion

Learn how to develop a data integration and lifecycle management strategy for a hybrid environment.

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Read about must-have features and technology partnerships for object storage solutions.