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 data to drive business value.
“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 more value for our business and 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 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 users impacted—resulting in a gross overestimation that can increase costs related to incident response, remediation, and regulatory penalties. It can also create 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,” said Subra Ramesh, Senior Vice President of Products & Technology at Dataguise.
“Data breaches will happen, and the truth comes out eventually—more than 200 days later, according the latest industry 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 projections, the new release includes other key enhancements, including integration with third-party authentication and access management solutions, support for advanced data retention workflows, and new risk profile reports that improve accountability and provide evidence of compliance.