Posts

The Future with Futran: Guaranteed Growth and Excellence

As a one-stop shop for key business services and strategies, Futran Solutions knows exactly how to navigate challenges in countless domains to best serve our clients and their goals. Regardless of how fast technology changes or what software trends lie around the corner, we consistently aim for and achieve excellence through our artificial intelligence, software development, and data analytics savvy.

Our team focuses on maximizing business growth, cost effectiveness, and operational efficiency for all of our customers, and as the next step in our own development, we are excited to announce recognition of Futran Solutions by Clutch, The Manifest, and Visual Objects.

Clutch, a B2B research and reviews website that analyzes companies based on their market presence, strength of portfolio, and client feedback, recently named Futran Solutions among other leading data analytics companies in the industry.

Dev Gupta, a client of ours and editor of CS:GO related website, particularly praised our skills and support in a review on our profile. “Futran Solutions performed exceptionally in regards to project management,” Gupta touted.

Futran Solutions and their team are skilled in a plethora of services. Instead of having to go to a different agency for various parts of the project, they had everything in one place – from initial requirements, deployment, release, and digital marketing,” he said. “With Futran Solutions, we received an end-to-end solution. We made a great decision choosing Futran Solutions.”

Sister companies to Clutch, The Manifest and Visual Objects also highlighted our range of services.

The Manifest, a news and how-to website that shares business knowledge and rankings, has ranked us among other top AI companies, attesting to our quality service. Likewise, the portfolio-focused Visual Objects website now showcases examples of our work, supporting Futran Solutions in backing us and other quality creative design and development agencies on the platform.

We very much appreciate these features of our services, strategies, and skills, and our team at Futran welcomes you to contact us with any questions or if you are interested in exploring future partnerships with us. We look forward to hearing from you soon!

Six Top Data Management Practices Every Organization Must Follow

Six Top Data Management Practices Every Organization Must Follow

Storage silos in most traditional organizations are bursting open from the rapid evolution in big data. Most of these organizations are now concerned about data management practices in their organizations.

In the last decade or so, every industry from manufacturing to advertising has migrated to multichannel sourcing of data. This means each individual set of data now competes with every other set for analytical significance. Businesses can easily stretch out of their means of trying to fuel this process. Resultantly, very few companies can claim that they are making the best use of their data.

By all means, the answer lies in implementing a data management solution that is practical. Plus, it should improve the quality of the collected data. Moreover, it can also be a vital step toward solving productivity issues.

The focus is steadily shifting toward the production of well-analyzed, relevant and timely data. Such data allows businesses to make improved decisions and usher in substantial growth. Fitting in data management solutions in business could be challenging. And if you have not started yet, you might totally miss out on what’s actually covered in data management.

With a data management plan that is centered on specific business needs, every new asset in data will undergo extensive monitoring processes to make sure there are no security threats and data is kept safe. Here are some top data management principles and practices that will help your organization make the most of the available data assets.

Understand your business goals before data objectives

Over the next decade or so, the volume of data will snowball into a living data giant. In parts, this development will be propelled by the new digital devices that are constantly being added to systems and networks. The uninterrupted flow slows down data collected previously further down the silos as newer sets of data assume more importance.

Using data to understand and realize business goals is quite common as a practice. But a data would scientist would recommend that organizations keep referring to the business goals throughout the process of data planning. This helps companies identify the most important data sets and understand whether or not those need to be placed in a silo.

As an organization, you also need to consider how every dataset can impact the KPI that you would want to improve. Based on the goal you set, you will have to make a decision on what data you want to store. At the moment, most organizations do shoddy data management.  They store a lot of data without a well-defined purpose or store mechanism.

The best way to work around this is to know and decide how much data and associated technologies you will need to crack the goal.

Club AI and machine learning in data management

The more datasets an organization accrues, the more time it takes to conduct analysis and reporting on every one of them. With new techniques like artificial intelligence, the extraction levels on the collected datasets are all set to go deeper with machines getting contributing a bigger chunk in the analysis. Data companies are already championing inter-technology collaboration to better facilitate GDPR guidelines.

The other big factor in data management is big data. Given how big data has become in the past few years, artificial intelligence will be an even bigger factor in the months and years to follow. AI can deliver fast, economical and high-quality intelligence from ginormous sets of data. It is beyond impossible for humans to derive actionable insights from such data volumes.

With the onset of GDPR, almost any organization that dealing in significantly large volumes of data will need artificial intelligence. The major ways in which AI will help companies in better data keeping include:

  • The ability for consumers to check in and out of official communications
  • Supply consumers with reports on what data the company collects from them
  • Give consumers easy ways to delete all data the company has about them

Without artificial intelligence supplying the necessary technology, these processes will become heavily time-consuming for businesses.

Ensure the right people manage data

A good data strategy for a business starts with placing the best practices and principles in place. However, what you want to know is that success is a result of the right people managing data for your organization.

Start with planned data governance. Deriving maximum value from data is critical to any data strategy of a business. Perhaps, the first of many steps in data strategy is to include data governance as a principle. For one, this will make sure that the data being used in the business continues to stay of the highest quality throughout its lifecycle.

Data governance is a process in the evolution of new businesses. Since it’s based on integrity, usability, and availability, it allows for the whole industry to make use of the data. With big data and analytics, companies can improve security, reduce costs, ensure compliance, improve data quality and derive meaningful insight.

Implementing an enterprise-wide governance framework to reduce the cost of operation and risk associated in the subsequent projects.

Make data accessible

Data security is as important for an SME as it is for a Fortune 500 company. But in a mad bid to secure data, companies cannot afford to forget data, which might, in the long run, make it defunct altogether. Data needs to be stored securely, but without compromising on the accessibility for those who need the data. Imperatively, the same data should not be available to those who do not have the proper clearance.

Staying on the top of data access protocols is key to cope up with the rapid leaps into the digital age. Organizations must make sure that data is stored at places where relevant groups can have easy access to them. The age that is coming is more data-driven than we would think. At that, it is relevant that organizations are adequately prepared to extract data from dashboards. The message here is simple – silo data is not of any particular use to a company.

Defend cybersecurity threats

Most companies have an Incident Response Plan by now. But the common mistake that most companies end up making is to deviate from that plan. So first of all, there has to be a clear plan accentuated with decision points in times of crisis. That will let companies know if there is a legal requirement, good faith or regulation to find a breach which is either potential or realized.

To start with, an Incident Response Plan should be established before the occurrence of any major incident. The plan should include all the points that will help in recovery, eradication, containment and also supply with expert testimony.

Democratize data management 

Data management principles and practices must be kept up collectively by a business. Using a holistic method to work lets every member in the company to gain access to data infrastructure and create a way for better data management processes. Along with solid governance, this method can introduce successful master management of data as well. But for company-wide success, the integration must first happen within the company.

Data management practice aids in the study of data in the correct perspective to arrive at conclusions that align with business objectives. Now that organizations are hoarding lots and lots of data, the key is in classifying the data well and making a senior official in the company accountable for it.

Data democratization is desirable. There’s no question about that. However, it has surpassed desirability. With GDPR rolling into action faster than most would have imagined, someone within an organization has to take responsibility for the data of their users. Moreover, implementing stricter data guidelines will also ensure that companies are aware of the kind of data that flows through their organization.

If you follow these recommended data practices, you will be that much closer to making holistic use of data.

Futran Solutions specializes in delivering composite data management and analytics for small and medium enterprises. As applications of data management in business keep evolving, so do the resources that shoulder these needs within an organization. Speak to a Futran Data Analytics specialist today. Find out how we help you achieve your business and marketing objectives.

RPA and GDPR: Security Governance in the Automation Era

RPA and GDPR: Security Governance in the Automation Era

The data on security breaches is overwhelming on many fronts. Over a billion records of consumers have been compromised since 2005. The total number of breaches in the period is threatening at around 8000. As late as 2017, big companies like Target, Equifax, and Neiman Marcus could not shield themselves from data breach attempts. Mind you, one of these is a top national credit reporting agency.

Noted analyst Avivah Litan predicts the following instances of misuse for the stolen data:

  • The data can get tossed around in an endless sell-and-resell loop of underground data piracy
  • Sensitive data can be used to steal bank accounts from customers
  • Identity thieves can use the data to update their existing records of targeted individuals
  • Adversarial nation states can use the data to disrupt peace or launder money out of the US

None of these constitutes stray casualty. The cumulative implications of the breaches are beyond grave. In fact, it is very difficult to quantify the damage dealt by these breaches to the society at large. That is where the General Data Protection Regulation (GDPR) swings into action. It gives consumers greater control over their own data while making corporates bite the bullet on their data processing practices.

What is the GDPR?

The GDPR is a regulation adopted by the European Union. It lays out the norms for data protection and privacy for the individuals that live in the European Union. It is one among the series of regulations that have helped formalize governance around security concerns of the average consumer.

In addition to strengthening consumer rights, GDPR aims at formalizing security standards that companies must establish to protect the data of their consumers.

Every organization functioning out of Europe and non-European organizations that collect the data of European citizens are expected to comply with the GDPR. The latest GDPR guidelines regulate how personal data is used, processed, stored, and deleted.

The GDPR also lays out that data subjects can request for both access and real-time usage information from organizations. If there’s any breach involving the personal data of users, it must be reported to the appropriate authority that oversees the regulation.

Security Governance: The Onus is on the Enterprise

At the crux of the GDPR is the impetus the regulation puts on enterprises to do all things necessary to protect consumer information. This has forced every enterprise software vendor to re-evaluate their policies regarding storage and management of sensitive user data.

This is where Robotic Process Automation (RPA) is impacting the industry in a big way. RPA platforms like Automation Anywhere are instrumental in offering comprehensive features in security and reliability. Starting with automation at once promises the following benefits for organizations:

  • Data encryption at all levels – when the data is in memory, in motion, or at rest.
  • A robust security framework (either built-in or third party) that guarantees security in the management and storage of user information. As a default practice, machine that store user credentials meant for critical purposes and the machines that run the software should always be exclusive.
  • Analysis of codes on both static and dynamic parameters, including manual pen testing for unbreakable application security.
  • Seamless enterprise based authentication system integration
  • Expansive logs of audits to support forensic analyses and audit processes
  • Secure operations that that make sure data is not exposed to business process threats during standard execution of processes

RPA platforms work with many ERP tools and in effect touch extensive sets of data within your organization. In case you are already using an RPA platform, make sure to check with them on GDPR compliance and the security measures they follow to ensure compliance.

How is RPA Easing up GDPR Implementation?

The first and absolutely unavoidable threat with manual processing of customer data is the guarantee of human errors. It does not really matter what level of security you follow. Even the slightest margin of error means that the organization is at the risk of non-compliance.

With RPA, you can automate the process defined by the legal and business teams to become GDPR compliant. Here is a collection of ways in which bots are helping enterprises with GDPR compliance:

Audit Logs

Enterprise RPA platforms are loaded with audit logs which monitor every operational process, creating logs for users and events at every stage of a given process. When there’s a data breach, audit logs swing into action with recurring spells of root cause analysis. What follows is routine forensic analysis to recognize and thereafter report the breach.

Content that relates to specific internal or external events can be gathered concurrently in real time. This comes in especially handy in case an organization is attempting to decode a fraudulent activity.

Documentation of data

There’s a lot of data pouring in from devices, sensors, and systems at the office. From the organizations perspective, it must be able to document all the data that is held in its directory, along with the source of its origin. The organization must be able to submit updated reports to the authorities in charge of data protection. GDPR mandates companies to purge personal data once it has crossed the holding period.

This is another area where RPA can help organizations by using bots that automate the process of masking PII data that is identifiable across applications. For the PII data that does not adhere to established policy, Natural Language Processing (NLP) lets bots recognize such data and generate alerts that help in intercepting the issue.

Data Breaches

GDPR makes it mandatory that subjects affected by data breaches be informed about it within 72 hours. For data breaches of a magnanimous nature, sending out information to everyone involved within 72 hours can become almost impossible. Imagine the case of Equifax, where 143 million users directly affected by the breach.

On the flip side, it is way easier to automate software bots to perform the job. In most instances, it does not even take 72 hours and makes sure the security governance timeframe is met.

Right to Access Information

European customers can request to access their information and know how an organization stores and uses the information. GDPR guarantees this right to all European consumers. If an organization wants to do this manually, it would need a dedicated team of individuals. Plus, every individual on the team must have access to such information.

It is way easier for bots to navigate through different systems and pull out data relevant to every user in question.

Right to Information Deletion

If a user requests an organization to dispossess their personal information, GDPR mandates the organization to delete such information promptly. Consider there is no automated process to do this. An employee or a team will have to access the information and then delete it from dozens of applications. Bots can not only pull out the relevant information on users but also email the report back to the concerned customers.

Some Data Cannot be Seen

There are legacy systems hiding data more than a decade old. Data can be accessed from these systems when needed. However, it’s never been as important to uncover sketchy data as it is now. RPA is the most convenient way to integrate the current technology platforms with legacy systems. Automation is also perhaps the only way to document and recognize available data that might be the cause of non-compliance.

Most companies are still taking their own sweet time understanding and dissecting the General Data Policy Regulation. At this, there is the threat of flooding of requests by consumers. Adhering to these requests will be compulsory. Doing it manually will mount up heavy costs on the administration. But the fact is responding to such requests might only be subject to a few well-defined requests. That makes it a great process for RPA to flex muscles.

The crux of it is organizations will have a hard time maintaining GDPR compliance in the absence of RPA. RPA solves security governance through GDPR wholly with the promise of zero errors.