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Data Regulations are Constantly Changing—Your Data Management Should Too

05.11.2022

Continuous Data Risk Assessment

The law firm DLPiper keeps a website and guide on data regulations. The guide is over 1,100 pages of high-level description on the regulations organized by country. Many enterprises run a global business, which makes understanding and adhering to these regulations a herculean task for IT. Organizations have been doing their best to work with business units and their respective data owners to try to understand their data and their disparate classification systems. Unfortunately, this process is too manual, too time consuming, and irrelevant as soon as their assessment is complete. IT needs help to continuously monitor their data and automate data risk management. And they need that solution to stay current with the ever-evolving data regulations so they can stop worrying about compliance and instead focus on continuing to improve data protection and cyber resilience.

Why Bi-Annual Data Risk Assessments Are No Longer Enough for Compliance

Continuous data risk assessment is still fairly new for enterprises. Legislators continue to put new data protection and privacy regulations into practice and organizations have responded with enterprise-wide data audits performed once or twice a year. This resulted in some insights into their data, yielded some classification projects or data archival to attempt to reduce risk. Then they’d repeat again at the next audit.

But is this really sufficient? Let’s take the example of a file that was assessed and classified to not include any PII. IT can easily edit that file the very next day and PII added. But can IT really wait another 6 months to discover that?

Periodic assessments were a good start, but it really isn’t enough to mitigate risk with continuously evolving regulations and continuously evolving cyber threats. Add to that the fact that data is constantly being created and audits are outdated before they are complete. Organizations need a more real-time approach to continuously scan data, identify risk, and help mitigate it.

Hear why organizations need continuous data risk assessment:

How DryvIQ Helps Maintain Data Regulation Compliance

DryvIQ provides an enterprise data management platform that is continuously monitoring for data changes across all environments. It can discover unstructured data to identify it, classify it, and take appropriate actions to mitigate risk. As a part of this, the Dryv platform also calculates financial risk so organizations can understand how data risk changes when they update files or when regulations evolve. Understanding the true financial risk of their decision is an integral part of IT’s job in prioritizing cyber security projects or pushing them down the road.

Perhaps even more powerful is the ability for the Dryv platform to automate risk mitigation. When Dryv identifies a potential vulnerability within a file, the system can take action to modify or transfer data appropriately through configured workflows. IT can automate actions on Dryv at a file level, but organizations can also use the information on data risk to make larger storage and security decisions to improve data security and protect data privacy.

Dryv presents the findings from continuous monitoring of enterprise content in a risk assessment dashboard that reveals any sensitive or vulnerable data found, its financial risk, and any automated actions taken to mitigate that risk. This enables IT to have continuous oversight to ensure compliance with data regulations.

IT Can’t Keep Up With Regulatory Changes—DryvIQ Can

The biggest SOCs in the world with the most threat hunters can’t keep up with malware without the help of endpoint protection solutions and threat intelligence feeds. The same is true for data protection and privacy regulations. New regulations keep being added and existing ones are evolving as cases are fought in the courts. There isn’t a large enough IT team in the world to keep track of this and how it applies to their data on a daily basis.

That is where DryvIQ comes in. Firstly, IT can configure the Dryv platform for each unique business and the industry and regions of operation. This way they can calculate financial risk as it pertains to the data regulations that your organization actually requires. More importantly, Dryv stays current with data privacy regulations to show compliance and financial risk associated with each regulation.

Hear from a DryvIQ Founder on How We’ll Stay Current on Data Regulations:

Having an “always up-to-date” understanding of financial risk is important for prioritizing cyber resilience projects and keeping data appropriately protected. It also meets the needs of regulatory auditors—providing exactly the information they need for the specific regulation. This huge time saver gives IT managers and auditors confidence that they are meeting data privacy and protection needs to the best of their ability.

 

Want to learn more about new ways to automate continuous data risk management? Get the deep dive here.

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