Dataguise announced a patent-pending method of projecting unique data counts that enables organizations to report the impact of a data breach faster and more accurately than ever before.
This capability comes in the latest release of the company’s personal data discovery and protection software, continuing its tradition of helping organizations manage risk and costs as they store and use personal information and other sensitive data to drive positive business outcomes.
“Dataguise has helped us improve our overall data governance and security posture by giving us an enterprise-wide view of sensitive data across the myriad data repositories we use, both on premises and cloud,” said Lynn Winiarczyk, Business Technology Manager, Master Data and Data Governance at KeyBank.
“Since day one, when we got the product up and running in an hour, Dataguise has been a fantastic partner to KeyBank, really listening to our needs and working with us to deliver product enhancements that deliver the most value for our business and for our customers.”
Many organizations are required by law to accurately report the impact of a high-risk data breach and notify affected individuals without undue delay. The GDPR requires reporting within 72 hours (three days) of becoming aware of a breach.
Dataguise is able to extrapolate the number of unique data elements in a data set quickly, with greater than 90% accuracy, using a patent-pending approach based on neural network technologies. For example, there may be 5,000 instances of the same credit card number in a set of data.
With little time or ability to assess each and every data element within the 72-hour compliance window, organizations may report that as 5,000 records breached or 5,000 different users impacted—resulting in a gross overestimation that can increase costs related to incident response, remediation, and regulatory penalties. It can also create even more worried and frustrated customers.
“Underestimating the extent of a data breach affects the credibility of an organization and delays corrective action, while overestimating it wastes time, money, and energy for everyone involved,” said Subra Ramesh, Senior Vice President of Products & Technology at Dataguise.
“We’re going for the Goldilocks effect here. Data breaches will happen, and the truth comes out eventually—more than 200 days later, on average, according the latest industry breach reports. But companies that get it right from the start will be in a better position to minimize the damages and maintain the confidence of customers and shareholders.”
Along with the unique count projection capability, the new Dataguise product release includes other key enhancements that streamline information security and privacy operations:
- Integration with ServiceNow’s IT Service Manager: ServiceNow users can use Dataguise seamlessly from within IT Service Manager to scan data assets, protect sensitive or personal data identified, and aggregate results with other data insights across the organization.
- Support for advanced data retention workflows: Organizations can design workflows to automatically archive or delete data based on complex conditions such as corporate policies, user preferences, and country-specific regulations as well as other security and usability considerations.
- New risk profile reports: Organizations now have access to more visual, insight-oriented reports that improve accountability over how personal data is used and provide evidence of compliance. Reports offer insights for privacy, security, analytics, and IT operations teams, and cover a range of topics, including: consent management, employee training, processing purpose validation, classification validation, record of processing activity (ROPA), user-access and third-party risk, and readiness for cloud migration, dev/test, or analytics.
“Since 2007, we’ve been driving innovation in personal data discovery, but in today’s data-driven world, our latest release has the potential to save companies millions of dollars in IT and compliance-related costs,” said Manmeet Singh, CEO at Dataguise.
“Our customers can look at a large set of data and get a clearer and more realistic understanding of what personal data is there, without having to scan the entire set or include duplicate data in the count. Once again, we’ve raised a critical bar for efficiency and accuracy in personal data discovery.”