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PST304

PST304. Data Tsunami or Data Trickle: How do we deal with data deluges and the data deficits?

Date
September 21, 2020
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It is the best of times and it is the worst of times. Indisputably, there is a data tsunami. IDC estimates that there will be 163 Zettabytes of data by 2025[1]. Why? Trends like the Internet of Things (IoT) promise to deliver 79.4 zettabytes (ZB)[2], while each autonomous vehicle is expected to generate 1.26TB of data per hour. But there is also a data deficit. Whether we look to the 2007-2008 financial crisis, or the pandemic, we see the problems of data deficits. In order to thrive in this era of data dichotomy, we need to understand the underlying trends, how they will transform the world we work in and identify unique opportunities to provide value to our stakeholders.




[1] https://www.forbes.com/sites/a...

[2] https://www.zdnet.com/article/iot-devices-to-generate-79-4zb-of-data-in-2025-says-idc/

Learning Objectives

  • Identify key trends that are causing the data tsunami: understanding the reality of how data is being generated through IoT, autonomous vehicles, mobile ordering, blockchain, etc. Additionally, participants will distinguish the link between datafication and automation.
  • Analyze the challenges of the “data/decision deficit”: determine how data collection or lack thereof can cause blind spots, as we have seen within the Financial Crisis and the ongoing pandemic.
  • Determine key security and privacy implications: Identify how these trends can impact (e.g. increase) security risk and potentially undermine privacy.
  • Identify the opportunities and limitations of data analytics: Be able to distinguish how value can be generated from data analytics, identify how data can limit analysis (and conclusions) and determine how the data itself can be biased. Participants should have an overview of talent/tools involved in data analytics.

Speaker

Speaker Image for Malik Datardina
Malik Datardina, CPA (Canada), CA, CISA
Governance Risk Compliance Strategist, Auvenir

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