Secure data sharing is changing the way we derive value from data. This past week I had the opportunity to speak with our CEO and Co-founder, Dr. Alon Kaufman, and CBO, Michael Hughes, after they delivered their first joint webinar: Revolutionizing the Data Sharing Landscape – Data Sharing in the Privacy Age.
As the Duality Community Manager and content contributor, I really enjoyed the lead up to the event and the insights gained throughout the presentation and during the Q&A session. We had some great questions and feedback from the audience that could not be addressed in the allotted time, so I decided to tackle these unanswered questions and write a quick summary of the webinar with input from Alon and Michael.
This webinar covered digital transformation from a data privacy perspective, the evolution of how to action big data, and maximizing on your data’s value. We talked through three sections — covering the change in how enterprises view data, how to initiate privacy preserving analytics that drive value and actionable outcomes, and how to deploy an enterprise ready end-to-end, data sharing platform.
Key takeaways from the Data Sharing webinar:
- Businesses have more access to data than ever before – but they face challenges in utilizing its full potential due to data privacy concerns.
- Solving the privacy/utilization challenge will be the determinant of business growth over the next decade. The race toward data collaboration directly clashes with serious concerns about data privacy. Privacy regulations and concerns are hindering the ability to collaborate on data, but in many cases business confidentiality and competitive concerns also slow down or completely prevent data collaborations. These two rising trends, data privacy and data collaboration, are the main characters in one of the most important conflicts of the digital age: who owns all this data and how can it be used while still adhering to regulations and maintaining privacy?
- Privacy Enhancing Technologies help to address that challenge, and allow enterprises to take a secure, data-driven approach. This includes not only utilizing all data resources to their full potential, but also making data-driven decisions across the business, and embracing opportunities to securely collaborate with other companies to make the most of shared data.
- Therefore, the decision to deploy an enterprise ready end-to-end, data sharing platform is not a matter of if, but when – and leveraging PETs is the key to collaborating smoothly, since everyone captures, stores, and encrypts data differently. To get ahead, businesses must implement data sharing as needed while ensuring compliance with both external regulations and internal policies. Data sharing has the potential to drastically improve their business outcomes because they will be able to make more informed decisions by leveraging additional data that was previously locked away by data privacy regulations or confidentiality concerns. This can all be done within a data sharing governance framework that makes it easy to show how data is being used. The use cases are varied but most have a definitive impact on revenue.