Why IoT Data Governance is Imperative for Enterprises?
According to a recent report from ReportsnReports, the proliferation of IoT-driven devices is expected to reach a market cap of more than $195 billion by the fiscal year 2023. But, with the increasing devices, there also comes a serious concern for enterprises. As every single day, a plethora of devices are getting connected to the network, handling the burgeoning data has become more complicated. Hence, adopters of IoT are taking all the necessary steps to address the challenges related to data security through implementing innovative, transformative strategies for the successful application of IoT data.
Today, IoT data are leveraged by enterprises across various industries to unearth opportunities for enhancing and customizing products, operations, and processes. But without a data governance strategy, there are high chances that businesses can get adversely affected.
For example, consider car manufacturers. Robotic arms are today an integral part of the whole car manufacturing process, such as for painting the body. Such arms are increasingly featuring OEM-fitted sensors for maintenance purposes. The car manufacturer in such scenarios needs to be mindful in determining what all data is the robotic arm allowed to capture and relay to its OEM. In the event, the robot's OEM gets its hands on some proprietary, protected manufacturing information, loses to the car manufacturer are easily imaginable.
Hence, data governance becomes a pivotal area for enterprises to keep an eye on. With an end-to-end solution bolstered with a secure network and robust policies, enterprises can remain relatively safeguarded agianst data's side-effects.