Can data create a competitive advantage? - Glenn Buggy
I’m in discussion with Glenn Buggy about the human capital impact around privacy and The General Data Protection Regulations (GDPR). For over a year, these issues have generated a lot of questions and uncertainties.
Glenn, a professional with a strong background in the legal and financial field, has well-developed instinct for talent placement. He helps his clients’ organizations tackle these difficult issues.
We’ll be sharing short pieces of our discussions, and look forward to your ideas or thoughts in response.
Glenn, in the current era of breaches, how should companies manage security risks from a human capital standpoint?
“As the world moves into this new phase of cyber risk and data protection regulations, our clients are taking a proactive approach in managing these risks. I help them navigate the hiring process as well as show them how to create an office environment that’s appealing to this highly sought-after talent pool. I oversee the process with out-of-the-box solutions when it appears like the talent pool is extremely limited or doesn’t yet exist. I identify what you need to know when it comes to hiring in the data science field and how we can help you navigate the experience.
“Data Governance, Cyber Risk, General Data Protection Regulation (GDPR) and privacy have all become major buzzwords across organizations, and for good reason. In the wake of data breaches that hit huge companies like Facebook, Marriott, Under Armour, Best Buy, and even Equifax over the past two years, you would be pretty lucky if your personal information was not compromised in one of these incidents. For many organizations, it can seem like only a matter of time before their security is compromised and their customers’ data leaked. In fact, a recent survey published by PwC found that 40 percent of CEOs said they were “extremely concerned” about cyber threats in 2018, up 16 percent from the year before.
“It is time to hire talent that can do their best to protect your company and know how to prepare for the worst. Smart CEOs and boards know that cyber security is not just an IT issue. This is where I help my clients learn best practices when forming a team in the data space, walk them through a competitor organizational charts and offer expert guidance on hiring.”
Glenn, if you have a strong and loyal security team, then data can create a competitive advantage, do you agree?
Absolutely. Remember, Data Is a Good Thing. If you’re using your customers’ information and feedback correctly, having their data can do impressive things for your company’s marketing and behavioral analytics initiatives.
Big data also helps your company improve its strategies to acquire new customers and retain existing ones. Consumer data in itself is big business and protecting it should be one of your business’s highest priorities.
Whether you are using customer service feedback to improve products and services; noting the questions asked to better help address any concerns with marketing and content strategies; or learning about specific demographics and behavioral data to streamline efforts for future opportunities, data will help you be in-the-know with your consumers’ needs and preferences. Using this information will give you a leg up on the competition.
There is groundbreaking work being done in data analytics and using this data benefits existing customers as well as drives new business.
Create a Desirable Environment — It’s important to take time and make sure you have an enticing work environment, and that this team will be able to obtain the resources required.
The main reason people in information security leave their jobs is because they do not have the support or resources to do their job. That causes personal reputation risk and in a competitive field, there’s no reason to take that on.
It might be helpful to work with an outsider to assess your work environment.
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