Treat your data like Google Maps
Automation will be key to ensuring companies don't drown in the rising tide of important data says Octopai co-founder and CEO Amnon Drori.
The company, which is headquartered in Israel, helps its clients get visibility and control over their data by analysing metadata.
In a world which is producing 2.5 quintillion bytes of data a day, companies need to make their data more transparent, secure and easier to understand if they want to be GDPR compliant.
"Imagine Google Maps and think of how many roads there are to get from one point to another – in the same way, there are millions of ways data can flow, but which ones are relevant to what you're looking for?" Drori said.
"When you look at a report and can see all the different data points, you can tell if one looks suspicious. You can say 'I don't believe we should be paying £2,000 here, it should be more like £1,300’.
"By understanding how the data landed in that report they know they can trust it."
Founded in 2015, Octopai has simplified the entire process and made it more accurate by analysing business intelligence systems using AI and other technologies like automation – which Drori believes will be key for any business going forward.
"Automate yourself," he advised, "In the past few years there's finally been more tech available, which software companies have been combining to make the life of the customer easier.
"Life will continue to get more complex in future, there will be more varieties of data available and people will want to get more information from different sources, so life won’t get easier unless you make it easier with automation."
Automating the data flow in this way can let users create data maps at the click of button, and Drori believes the company has already saved its clients years in time.
For example, one insurance company they worked with had to modify its data following the implementation of GDPR, masking fields that held personal information.
While the project had been projected to last eight months, Octopai carried the work out in three weeks.
"Our pitch isn't saying 'if you had 20 people on your team now you can do the work with 10'," said Drori. "It's that if you have 20 people on the team they can now act as if they're 40 people.
"It's not about laying people off, it's about empowering them around things they repeatedly do but don't want to do."