IBM OpenPages launches a smarter way to manage private data
Your organization needs to collect and crunch mountains of user data in order to evolve. But that can’t come at the expense of user privacy. As your data estate grows in size and complexity, the potential privacy risks grow with it. Outside pressure grows too, as governments expand regulations and individuals demand proper use and security around their sensitive data.
Even if your organization ingests data from many sources, you shouldn’t be storing that data in a similarly fragmented way. Many organizations store their data using disparate, sometimes outdated information architectures and software tools. The oversight of these systems is often siloed, with managers from different departments responsible for their specific domains. In such a situation, reporting and auditing require manual processes, which take more time and are prone to human error.
This scattered approach is no longer viable. In order to comply with constantly changing privacy regulations and customer expectations, all kinds of managers — not just trained risk and compliance specialists — need the ability to easily access and use a modernized risk management platform with an intuitive UI, built for their needs. You need a holistic view of the sensitive data across your organization. And you need to understand the who, what, where, when, and why of the private data being used.
Introducing Data Privacy Management for IBM OpenPages
IBM OpenPages has steadily innovated in the Governance, Risk, and Compliance (GRC) space for a decade. Last year IBM OpenPages with Watson was integrated with IBM Cloud Pak for Data, our data and AI platform. In 2021, we are excited to announce the release of IBM OpenPages Data Privacy Management, a new module within the OpenPages platform that enables organizations to meet new data privacy challenges head-on.
This module will give users a unified view of all of the private data assets being stored across their organization, and it will enable users to run privacy assessments on them. To assist with this, OpenPages has built an integration with Watson Knowledge Catalog, our cloud-based data catalog and data governance platform, to enable the loading of asset metadata into OpenPages.
When Watson Knowledge Catalog and other Cloud Pak for Data services are deployed, the length of data science projects is reduced by 89% with productivity increases of 95%.
OpenPages already helps customers build total confidence in their data with advanced GRC tools. Now those customers can deploy up-to-date data wherever they need, whether that’s behind a firewall or on any cloud. This allows for the breaking down of silos, and the integration and democratization of GRC across the entire organization. It’s never been easier to manage your stakeholders’ private data to meet regulatory demands.
Harness the power of your metadata
Watson Knowledge Catalog features automated metadata generation, which curates, verifies and classifies data for AI, reducing metadata classification time for regulations by 90% vs. manual finding. Now you’ll have more insight into your metadata. You’ll be able to analyze model interdependency and performance by integrating with IBM Watson OpenScale, our AI model monitoring and management solution. AI-relevant classifications help users reduce errors, mitigate risks and promote accuracy and efficiency in incident reporting and risk mitigation efforts.
Automate privacy monitoring
Watson Knowledge Catalog lets you catalog your data and analytical assets like machine learning models, wherever they reside. This integration with OpenPages helps to automate the reporting of personally identifiable information (PII) in order to improve accuracy and reduce audit times.
More control of PII with AI
Now OpenPages users have a holistic, real-time view of how private data is being used throughout the organization, from applications to AI models. This view is obtained through an award-winning UI that leverages Watson Assistant, designed to help non-experts navigate the world of GRC. As users navigate the OpenPages interface, Watson Assistant will help them get comfortable by answering questions and providing tips. Watson Assistant can also field search queries using Natural Language Processing. Now everyone’s a risk expert who can implement governance artifacts quickly and easily with automated governance.
IBM recently commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study that evaluated the financial impact of IBM OpenPages with Watson on organizations. The study noted a three-year 218% ROI. The TEI study revealed $5.1 million in benefits across three years. The benefits included $1.7 million in regulatory fine avoidance, $1.7 million in reduced risk management effort, and $1.8 million in avoided legacy solution costs.