Companies Inconsistent in Analysis, Mining of Risk Data: Deloitte

A new survey from Deloitte

showed many organizations are not taking a consistent, company-wide approach to

mining, reporting and analyzing risk data.

The survey, which fielded

responses from 900 professionals, focused on the challenges facing data-management

and analytics programs used by businesses to make strategic

decisions based on risk. More than a third (37.4 percent) of respondents

reported their companies are not taking a consistent, company-wide approach to

such programs. While nearly one-third (32.7 percent) of boards and executives

use detailed analysis from data collected across the company for important

risk-management decisions, 11 percent of executives surveyed said their

companies’ data-governance programs were “non-existent.”

“[Data governance programs]

centrally assess, track, and govern data quality, data-management policies and

procedures, usage and ownership, and the ‘golden sources’ of data and how it is

managed,” explained Bob Walley, who is with Deloitte’s regulatory and capital

markets consulting practice. “Many organizations simply have not matured to the

level where they can effectively think through a quality

governance program.”

The biggest challenges to

risk-data-management programs included too many data sources (33.2 percent) and

too few resources (28.6 percent).

For more, read the eWeek article: Survey: Many Companies Lack Consistent Approach to Risk Data Mining, Analysis.

CIO Insight Staff
CIO Insight Staff
CIO Insight offers thought leadership and best practices in the IT security and management industry while providing expert recommendations on software solutions for IT leaders. It is the trusted resource for security professionals who need network monitoring technology and solutions to maintain regulatory compliance for their teams and organizations.

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