Digital Transformation, made possible by technologies like big data, cloud computing, and artificial intelligence, have enabled businesses to dramatically improve customer experience, accelerate the pace of innovation, and increase overall efficiency. This pace is now at risk as organizations grapple with how to manage data privacy across all their lines of business and geographies.

At Privitar we have seen organizations handle this in a multitude of ways, all with the ultimate goal of providing their analysts with fast access to Safe Data. Even with the best of intentions frequently this seemingly simple mission falls apart leaving teams forced to make a compromise on either the fast or safe part of the mission.

Digital transformation and more democratized data use can change how a business operates and serves customers. So why do so many companies struggle to realize this butterfly moment? There are many reasons. Companies don’t know all the data they have. Line of business leaders create siloed strategies. Manual processes start off well but ultimately don’t scale. And the list continues. At the core of all of these reasons is that a holistic strategy for sensitive data management doesn’t exist.

When contemplating how to ensure your organization is utilizing sensitive data effectively and safely it is critical to develop a strategy that considers both data security and data privacy. As you go through the process of discovering and cataloging data it is possible and even likely that you will discover this data is well secured and that a strong security strategy has already been implemented. These protections while necessary do not have the ability to ensure data privacy is enforced while the data is being used for analysis or once it leaks.

In addition to traditional security technologies, today’s data leaders are adopting data privacy platforms that enable them to provide safe access to sensitive data by simultaneously optimizing data utility and managing risk. A platform designed to enable enterprise data privacy is the only solution that can satisfy both the data needs of business leaders and demands of the compliance and risk team. These platforms keep compliance happy by applying privacy policies consistently across data, and tools like watermarking provide the traceability they need in the event of a breach. Leading platforms do much more than just help enable compliance. The Privitars Data Privacy Platform™ safely gets data into the hands of your analysts faster. When data can be accessed faster digital transformation is able to accelerate, leading to better organizational decision making, faster product innovation, more targeted marketing, and the positive business outcomes don’t end there.

When considering how to handle data privacy remember a platform is the only approach that will stand the test of time. Think about how to create a Safe Data Service that will make the democratization of data fast and efficient while respecting the needs of compliance. Ultimately make sure your platform has the capabilities you need to safely deploy data throughout your organization.