Companies are dealing with overwhelming amounts of data, and this data must be governed, compliant, and secure, especially when working in the financial, healthcare, and insurance sectors. As the complexity of data environments increases, traditional data governance approaches largely fail to address these challenges adequately and lead to the emergence of what many researchers refer to as Data Governance 2.0. undefined Laying its foundation is the metadata-driven data fabric, which represents a highly transformative approach to data management and governance, compliance, and security.
Expanding on the concept of data fabric architecture and elements, this article focuses specifically on the use of metadata layers to improve governance and compliance for businesses operating in highly regulated environments.
Enhancing Compliance Through Metadata-Driven Governance
Meeting Regulatory Requirements
The main analysis of compliance as a major concern to industries including health, financial services, and insurance plays an important role since it responds to the legal requirements of data privacy and security. Some of the most common regulations include:
GDPR (General Data Protection Regulation): Legal regulation of data protection and privacy in the European Union.
HIPAA (Health Insurance Portability and Accountability Act): Addressing privacy concerns in healthcare through regulatory of patient data.
CCPA (California Consumer Privacy Act): A regulation of the collection and processing of customers’ information in California.
All of these regulations necessitate proper handling of customer, identifiable, or otherwise restricted data, and a breach of these regulations attracts penalties or lots of negative publicity. Metadata implementation of governance helps to regularly enforce rules that correspond to these regulations.
Real-Time Compliance Auditing
Traditional compliance audits were paper-based, check-list driven exercises, and were conducted episodically, therefore raised compliance breaches or violations. Metadata-driven data fabric allows for:
Automated audit trails: Metadata tracks every component of data and helps with audits by making the process faster and more concise.
Continuous compliance checks: Rules related to metadata generate compliance in real time because they modify their actions based on the changes of goal data.
To Know More, Read Full Article @ https://ai-techpark.com/how-metadata-driven-data-fabric-ensures-compliance-and-security/
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