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We all know the saying “High Risk, High Reward.” But when it comes to data security, Peter Baumann, CEO and co founder of ActiveNav, we derive the value of the data because we just can’t get through the risk. There are three things always facing businesses whenever there is data involved, and that is the protection of the business’s reputation, the costs involved in non-compliance, and then the exponential growth of data within the organization. We are so focused on reacting to these three variables, that we simply cannot do anything on the value of the data itself.
Peter talks with us about the number of existing patchwork of regulations around the world, and how it makes it too difficult for business and organizations to comply. And while most experts suggested that regulations like GDPR would only govern those with businesses or people in Europe, it’s become the de facto compliance bar for privacy and data security for many businesses. He suggests that the US Government needs to step in an set a clear regulatory path around data privacy and security so that businesses know what the rules are, and the legal industry can better advise their clients on what steps they need to take to be compliant.
We dive deep in this episode and talk about what is structured and data. And how the existence of “dark data” within a business is what brings the highest risk of all. While doing data assessments on Terabytes and even Petabytes of data is extremely expensive, data breaches are even more expensive. The goal in Peter’s mind is to get to “zero dark data” so that you can stop worrying completely on the risks, and start understanding the value within your data.