Major Trends Shaping Governance, Risk Management, and Compliance in 2015

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Big Data

Big opportunity in Big Data. The unprecedented volume, variety, veracity, and velocity of structured and unstructured information, also known as Big Data, is any organization's biggest opportunity. Sophisticated Big Data processing technologies now have the capability to aggregate and analyze social media and location-enabled sites, multimedia, documents, emails, weblogs, surveillance records, medical records, threat and vulnerability scanners, supplier data, regulatory feeds, e-commerce transactions, voice notes, audio transcripts, stock trades, transaction logs, geo-spatial data, and more -- all in real or near-real-time.

As a result, organizations are able to identify trends and spot anomalies based on a rules-based framework, in a way that can help strengthen their risk and regulatory compliance efforts. For example, social media content can be used to provide key customer insights, and supplier data in aggregate can provide key indicators around supplier financials and behaviors that support third-party vendor due diligence. The biggest challenge facing any organization in the year ahead will lie in the ability to distill the signals from the noise.

As 2014 comes to an end, it is important that we look back and reflect, as well as prepare for what is yet to come in 2015. Our world is increasingly risky, regulated, mobile, social, global, cloudy, interconnected and data-driven. All of this, taken together, has significantly and fundamentally changed the way individuals live and work, and the way organizations conduct business.

Amidst such change, in the year ahead we will see organizations embark on, and continue forward in their journey to become better governed, more risk-aware, and compliant. We will also continue to see a strong focus on bringing together the right teams of people and the right GRC tools and technologies needed to help business leaders contextualize information, understand their business, make better decisions, and ultimately, drive superior business performance.

In this slideshow, Vidya Phalke, chief technology officer, MetricStream, and Piyush Pant, vice president of Strategic Markets, MetricStream, take a closer look at the major trends expected in 2015.


Related Topics : A Big Market for Big Data Jobs, Midmarket CIO, IT Management Automation, SharePoint, Technology Markets

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