Big Data And Regulatory Compliance

As we’ve moved further into the twenty-first century, our world and society has been immersed into the digital world. With this digitization of our culture we have created a new resource, data. Data has become king in the Age of Intelligence, it fuels most of what technology companies use to make money. Companies like Google, Facebook, Amazon, ect. have leveraged their vast amounts of data generated by the millions of internet users to better advertise and attract more users. Surprisingly most of this data collection is created and aggregated unbeknownst to the users. This is where the problems start to show themselves. When users are generating 2.5 quintillion bytes of data each day, as estimated by IBM,(https://www-01.ibm.com/software/data/bigdata/what-is-big-data.html),

Direct implementation and risk management of regulatory compliance for an $8 billion infrastructure and capital improvement program with more than 300 contracts across 17 major projects

A regulatory compliance examines the company’s ability to provide and regulate goods or services. For example, the reasoning for Health Insurance Portability and accountability act (HIPPA) uses inhouse and external auditing procedures is to identify if healthcare entities are acting in compliance, there is not a discretion with an employee or customer, and to identify a breach in operations (Davis, Schiller, & Wheeler, 2011). Some of these audits are mandated while others can be random just to ensure there is not a need for changes in procedures. Many enterprises are assessed in a HIPPA audit, including healthcare providers, clearinghouses, and insurance plans. During the Audit five components are studied within these organizations such

With the way technology is speedily changing, analysts have made many predictions about how quickly we can expect things to continue to transform. Gartner, an international think tank, predicts that by 2020 there will be 21 billion connected devices throughout the world. Additionally, the IDC 's Digital Universe study predicts that during that same time the world 's data will grow to be ten times what it is now. This translates to an increase from 4.4 zettabytes (in 2014) to 44 zettabytes in 2020. The Internet of Things is going to contribute at least 10% of the drive behind this massive expansion in big data.

In this new digital world, expectations are increasing. Today, customers demand personalized, reliable and durable products and services, at the time and in the place they want them. And thanks to the large amount of data being made available by the billions of connected devices out there, it’s easier than ever before for businesses to meet these expectations. It’s because of these developments that I believe data is the new currency. (Chandrasekaran, 2015).

The term “Big Data” refers to the massive amounts of digital information companies and governments collect about human beings and environment. The amount of data produced or gathered is increasing at a faster rate and is like to double after every two years i.e., from 2500 exabytes in 2012 to 40,000 exabytes in 2020 . Security and privacy issues are describes by the 3 V’s of big data- volume, variety, and velocity.

Since we get up in the morning and until we go to bed at night we are bombarded with data and information such as emails, Facebook, Instagram, Twitter, news, programs, text

The internet of things (IoT) is the growing network of physical objects that feature an IP address that allow them to connect to the Internet. It is also considered as the communication that occurs between these objects and other Internet-enabled devices and systems. The types of interactions this network can have are people-people, people-machines, and machines-machines (M2M). The IoT broadens the scope of devices that can connect to the Internet from traditional devices, like laptops and computers, to a diverse range of devices that use embedded technology to communicate and interact with the external environment through the Internet. The number of devices that are connected to the IoT is exploding, with the current number being around 12 billion devices worldwide. Several researchers estimate that there will be 26 times more connected things than people by 2020. There are a number of explanations as to why this is happening. One reason is the huge increase in address space that IPV6 offers. The expansion was so large that every atom on the earth could be assigned an address, and there would still be enough addresses for another one hundred earths. Another reason is that cloud-based applications are allowing the use of leveraged data by taking all of the information from the devices, interpreting it, and transmitting the information. The power of computing by using the

Nowadays, data is being generated by multiple sources around us at an alarming rate, be

We are living in data age, around twenty one zetabytes of data is predicted to be there till 2020. Recent years have witnessed a dramatic increase in our ability to collect data from various sensors, devices, in different formats, from independent or connected applications. This data flood has outpaced our capability to process, analyze, store and understand these datasets. Today people are totally into social networking sites such as Facebook, Orkut etc. Each user stores their data like photos, statuses etc into these that contributes to the ever increasing size and speed of datasets. Now if we look into the upcoming boom topic in the industry i.e. IOT, the internet of things, it will connect people

Big-Data can be defined as the large amounts of digital information companies and governments collect about human beings and the environment we are living in. The amount of data that is getting generated is expected to double every two years,

The number of smart devices connected to the internet is expected to increase significantly over the next decade. Thus, data generated by these smart devices sent to the remote cloud will also increase significantly. The European Commission predicts that there will be 50 to 100 billion smart

Nowadays, it seems that almost anything and everything is available online at any time. You can check email from your phone, find friends, order food, and even manage employees. Apps these days are producing extraordinary amounts of data from a wide array of sources. With such a large volume of data being passed online, it was only a matter of time before companies would want to analyze this raw data to better understand and improve the day to day operations and functions. Companies like Google can use your browsing data to target advertising (Google, n.d.) and help improve functionality of their proprietary apps like Google Maps (Mehta, 2016). Hospitals use clinical based data to study patient trends, which gives a better insight into

For example Facebook alone generates 10 Tb of data (each day), twitter generates 7 Tb which is very huge volume of data being generated and upgraded. Previously the data was maximum considered in gigabytes but nowadays data is generated in Terabytes to Petabytes and sometime in future it will reach to Zettabytes which huge volume of data if we consider social industry and if take other industry like finance where the data makes a big difference like the stock market which is globally hundreds of stock exchanges there are other data like company’s fundamental data, this is also generating GB/TB of data in volume which is collectively in TB/PB.

Today, as the internet is becoming ubiquitous in our lives so is information. Scientists have even calculated the estimate data that we as humans have stored since the year 1996. It is no surprise that we have stored over 295 Exabyte of data and this is just until the year 2010 and today we are 7 years since [1]. Imagine how much data we might have stored! The thing to ponder about is that what is this data? Is this just books and news publications or photos and videos of users? This is something we might never know precisely but we can assume that as photos and videos constitute for the most part in terms of data storage. One might question how the companies who keep all this data for free make money? A simple answer to that is ‘data’