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Good data governance practices improve regulatory compliance by enabling businesses to distil more granular insights in realtime when needed .

For example , a web-based business intelligence model was created for a financial services provider which enables its commercial customers to visualize key performance indicators about their business , clients and the competition .

Powered by AI , Cloudera Data Platform extracts raw data from silos , which then analyzes and encrypts a wealth of anonymized financial and transactional data , including 50 % of national credit card transactions , to drive smart business decisions and plan ahead .

The service is accessible to nearly 1,000 customers via an application , enabling them to tap into meaningful insights ingested in a shared collaborative space , similar to a ‘ clean room ’ while the raw data is completely controlled by the provider .

Security protocols key to data governance

Organizations in highly regulated industries can get a headstart by deploying hybrid data platforms that have built-in security and governance capabilities to support secure , authorized and appropriate use of data . This centralized governance approach facilitates compliance and avails self-service data access for all users , while establishing a consistent layer of security and governance across hybrid cloud environments and the organization ’ s data-driven initiatives .

Hybrid data platforms are also able to efficiently manage metadata , data workloads and data applications between on-premises and in the cloud , while controlling data flows no matter where the data resides . Doing so allows consistent , simple , secure and scalable access and analytics of data across the organization while reducing data silos .

The Australian government continues to spend on Big Data and analytics solutions , hitting US $ 5.5 billion in 2022 and is expected to register a compounded annual growth rate ( CAGR ) of 13.3 % between 2021 – 2026 , according to IDC . Having a data platform that functions as a single source of truth is the way forward as it enables traceability of data lineage , allowing employees a clear view of the data ’ s entire lifecycle as they aim for maximum accuracy and consistency of data while also fulfilling regulatory requirements .

The challenges faced by governments in extracting value from citizen health data to improve both the clinician and patient journey from primary to emergency care , rehabilitation to recovery are complex .

The Australian Defense Force ( ADF ) is currently replacing its legacy e-health record system with a modern patient-centric health solution . Cloudera will deliver private-cloud-native data engineering capabilities using its CDP Data Engineering solution and will be responsible for ingesting data from multiple sources , including legacy systems and new data streams . It will create secure data products that streamline and operationalise the data contained in ADF ’ s new Health Knowledge Management System , as well as provide fast reliable data that will enable data scientists to extract value faster , regardless of workload , to support improved decision-making .

Better data governance , better business

Having strong data governance practices in place provides enterprises with timely data , crucial in deriving valuable and accurate insights . These insights enable organizations to quickly identify growing market trends , reduce costs or optimize business processes in response . More importantly , proper data governance reduces regulatory risk , especially in the wake of an evolving threat landscape and business disruptions – a key requirement for organizations in highly regulated industries . p

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