| |JUNE 202319CIOReviewFrom the days of "throwing a dart" to predicting growth, we have come a long way. Companies can use advanced analytics to see what future growth will be and the factors that affect itHow do you ensure data privacy and security?I always make sure that I get our IT experts involved. There are so many ways to have a data breach that this is an ongoing battle. The first thing to do is to make clear who has access to what. Make sure that employees only have access to the data that they need. This takes a lot of coordination with the administrator, but it is well worth the effort. Make sure you can identify the most important data in your organization. Ensure you take all steps to protect that first and have a small number of employees able to access this information. The third part is to make sure you have a data security plan so that everyone knows what needs to be done in case of a breach. Employees must be educated about password strength and how to change their passwords to make them more secure. Finally, it is imperative that there is always a backup of your data. If you do have a breach, you have your data security plan to help you bring back valuable information from the backup.What innovations in data and analytics have the most potential?Even though it is not the glamorous part of data and analytics, data governance is going to become much more important. Many more organizations are jumping on the data bandwagon, but most are not ready for the huge step of standardizing data across the organization. Sure, there are great leaders to help data go from information to analytics to machine learning to AI, but without a proper standardization of the data, there is no trust in the results. Because of this growth, data governance is going to play a larger role in the future. CEOs are going to play a larger role in the shift to data transformation. They are finally seeing that they are going to need data to compete in the market. Hiring people that can reach across enterprises and add value to the data will become a priority for executives. We have seen that in the past, data insight has been spread across the organization between IT, marketing, sales, and HR. Each of them uses the data for their niche. As data becomes a more important part of all businesses, the hiring of data experts who understand how it affects the company as a whole will take on a larger role.
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