Data analytics transform unstructured data into actionable insights. The same techniques can also be applied in business. With the right technical support, analytics tools can help companies ease the pain of compliance and uncover untapped potential. Banking is a case in point. Financial services organizations save vast quantities of data, which are often underutilized – or at worst completely untouched.
Compliance has become a fact of life in today’s world – and it’s clearly here to stay. This means mounting challenges for companies, continually faced with adopting new measures to prevent violations. Compliance is also becoming part and parcel of corporate governance and risk management. An ominous prospect for some, fearful of a major administrative burden and rising costs. For