Big data promises a huge boon to the supply chain in allowing organizations to be more strategic and flexible. At the same time, there's a steep learning curve on keeping all that valuable information secure.
“The key challenge with big data today is to fully leverage all this important information while addressing compliance issues and protecting against data breeches and insider threats,” said Manmeet Singh, co-founder and CEO of Dataguise, a provider of big data security intelligence and protection solutions.
Data has been growing exponentially over time in the business world, but the deluge has only just begun. Market research firm IDC in a recent report said:
From 2005 to 2020, the digital universe will grow by a factor of 300, from 130 exabytes to 40,000 exabytes, or 40 trillion gigabytes (more than 5,200 gigabytes for every man, woman, and child in 2020). From now until 2020, the digital universe will about double every two years.
Especially in the electronics supply chain, security, and compliance are critical considerations. “The supply chain is intense and getting more security focused,” said Singh in a conversation with EBN, adding that the supply chain is developing a broad range of use cases for big data, from analyzing buying patterns to understanding logistics. “Supply chain getting global and they want to get information from many sources,” he added.
Even as OEMs, distributors, and others in the supply chain strive to make the most of data, they must also consider compliance, privacy, and security issues. “They want a huge amount of information to do analytics, but want to take away any personal identifiable information (PII),” said Singh.
Join us for an EBN live chat on Thursday, May 29 at 2:00 p.m. ET (11:00 a.m. PT) in the EBN chat area with Manmeet Singh. We'll be discussing best-practices around data privacy protection in the big-data world. Bring your questions and concerns.