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Big Data Transforms, Overwhelms Compliance

For the full article, please visit http://blogs.wsj.com/riskandcompliance/2016/05/16/big-data-transforms-overwhelms-compliance/

(This story is part of a series of stories about “big data” and compliance.) Nuclear reactor company NuScale Power is moving to a data-driven system to keep track of the copious documentation that is legally required to be archived in the nuclear power sector. Using a big-data platform provided by HP Enterprise, the company can track and organize critical engineering information to be quickly searched and pared down. This use of “big data,” or tapping into large new data streams and analytic powers, is providing new methods of assisting compliance, just as it is transforming business operations around the globe. The compliance applications vary widely and often start with a company having to figure out what useful data it has and then organizing it into usable form.

In the past, the computing power to do big data analysis was limited to mega technology
companies that could use their scale to crunch numbers and gather information, said Manish
Sood, chief executive of data management company Reltio. But a quickly growing industry of cloud-based data service providers is making those capabilities open to any size firm, he said. [Data] is synthesized into a matter that is useful and reliable,” Mr. Sood said. “That’s where the advances are taking place.
— Manish Sood, CEO, Reltio - WSJ, May 2016