Using Architector for Data Risk Assessment
Every organization should understand what data is critical to its business. Of the thousands of pieces of information used in your business, there will be some data that are so important that, if the data was inaccurate, or had other quality problems, it could cause significant damage to the organization.
Data Risk Assessment is about understanding the risks to the organization that arise from the data it uses and generates.
Architector manages the data needed for risk assessment
Understanding the lineage of data is crucial to understanding these risks. This means knowing where data comes from, who creates it, who has access to change it, and who is responsible for deleting it. It means knowing about the age of systems that maintain data, about system and data quality controls, and about end-user computing.
Architector brings all these things into one database repository. So now, once the risk assessment team define what aspects of data they are interested in, Architector can provide both downloadable information, as well as clear visualisations of these data aspects.
And helps you quickly and clearly assess risks
For example, Architector provides a Red-Amber-Green (RAG) indication of how risky it thinks processes are, based on whether they are automated, and whether there are controls in place around it. And Architector can plot the number of known data issues onto the lineage.
The lineage segment above shows that the Open Customer Account process is not automated but has good controls. The Extract Accounts for TM process is automated but has poor controls. The Extract Customers for TM is also not automated, and has poor controls (i.e. risky process), and there is one known issue relating to the way data is handled by this process. Finally, the Create Transaction process is automated with good controls (low risk).
Contact us today to find out more about data risk assessment, and how Architector helps assess data risks.