In the digital era, organizations are struggling with a crucial problem: their unstructured data has exploded. This is where the efficient and secure management of this data becomes most vital for a finance professional. MinerEye DataTracker Minimizes the Challenge with its Unique Classifying and Protection Capabilities In this blog post, we will examine MinerEye DataTracker and explain how it can improve financial data management by facilitating compliance adherence while lowering risk and operational costs.
Understanding MinerEye DataTracker
What is MinerEye DataTracker?
MinerEye DataTracker – Automated Discovery, Classification & Protection of Unstructured Information Anywhere it Resides Utilizing cutting edge technology such as Interpretive AI™, machine learning and computer vision, DataTracker scans and indexes data then analyzes the information to highlight what is considered sensitive & compliance resulting in required security actions.
Key Features of MinerEye DataTracker
MinerEye DataTracker: Automatically finding, Tracking and identifying data using AI & Machine learning for ensuring known sensitive files are being governed safely
Data Privacy Compliance: The tool helps organizations in meeting data privacy regulations by offering continuous monitoring and auto compliance reporting.
Cloud Data Optimization: By reducing redundant, obsolete and trivial (ROT) data volumes retained in the cloud, with appropriate storage tier recommendations for all business needs, overall savings of up to 40% can be achieved using an intelligent approach.
Detailed Risk Assessments and Alerting — provides granular risk assessments and alerts of potential data breaches or compliance violations to actively protect data
Benefits for Finance Professionals
Enhanced Data Security
Data protection in the finance industry is a must. MinerEye DataTracker enables financial organizations to securely index, manage and protect information such as customer data, transaction records and compliance documentation. Automated discovery and classification of data results in a strong decrease in risk for Data Breaches or unauthorized access into exposed databases due to sensitive information.
Compliance with Data Regulations
Financial institutions must follow a litany of data privacy regulations from GDPR and CCPA to industry-specific requirements. MinerEye DataTracker automates this process by mapping and continuously scanning the data, as well as generating reports which describe whether an asset is highly regulated so they can be dumped immediately without manual intervention to know if it pertains specifically for a financial organization or not.
Cost Savings and Efficiency
The management of massive quantities of unstructured data can be elaborate, time-intensive and costly. MinerEye DataTracker cleanses dark data by eliminating ROT data whether it is stored locally or in cloud, thus leading to reduced storage costs and greater efficiencies in managing the organization’s most precious asset; its’ sensitive information. This enables finance professionals to concentrate on higher-value activities, resulting in increased productivity as a whole.
Improved Decision Making
MinerEye DataTracker: Enables financial organizations to see into their data. This integrated tool is one of the most advanced analytical tools available, and as such allows finance professionals to gain a better understanding and make more informed decisions from their data across teams. This can aid in financial planning, risk management & strategic development
Implementing MinerEye DataTracker in Financial Institutions
Getting Started
How to Implement MinerEye DataTracker in a Financial Organization
Review: What are the data management processes across the organization and where can MinerEye DataTracker contribute?
Integration: Integrate DataTracker with existing data repositories on-premise or in the cloud. It integrates with the top cloud platforms including Microsoft Azure and Google Cloud.
Flexibility: Configure DataTracker to comply with the organization-specific data management policies and compliance.
Training: Train all staff on how to use DataTracker effectively for data discovery, classification and protection.
Case Study: Financial Institution Success
One of the places that MinerEye DataTracker has been proven to work is at a massive financial institution. It was struggling with vast unstructured data and the need for GDPR compliance. The deployment of MinerEye DataTracker enabled them to accomplish the following-
Improved data security: Detection and protection of sensitive customer data (personal information) and transaction-related information in a fully automated process.
Regulatory compliance: Continuous Monitoring and Automated Reporting kept it GDPR compliant as well as other regulations.
Operational cost reduction: 35% Off from reduced Optimized Data Storage and Management
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Conclusion
The financial services use case for MinerEye DataTracker is a heavy hitter on the unstructured data management side of things. Automate data discovery, classification and protection to improve data security status, ensure regulatory compliance while streamlining operational expenditure. Evaluating MinerEye DataTracker for the integration of financial institutions to help them practice better data management and shield sensitive information.