Deriving Data-Driven Value and Managing Risk Takes Commitment: FTI Technology’s Data Innovation
Digital information has become the nucleus of the modern enterprise. Organizations today must concurrently build value (leverage data-driven opportunities) and manage risk (build governance, compliance and control into every business function). The risk-mitigating, cost saving and revenue generating activities that can be derived from corporate digital information are material. This is precisely why FTI Technology invests in a global team of experts who are dedicated to digital engineering across the spectrum of corporate risk.
Data is a fundamental underpinning of our individual and shared professional experiences. Organizational users and technology providers are increasingly committed to enabling truly seamless user experiences, which are ultimately manifested in and through data. Therefore, extensible uses of information need to account for the original context and flow of information, while also elevating how data is experienced or analyzed in parallel to primary, day-to-day business activities — especially in connection with various organizational risks.
Unfortunately, data is often divorced from its proper context when inspected for governance, security, compliance, investigations or disputes. For organizations, along with their advisors and counsel, to maximize their data-driven efforts and achieve meaningful insights, they need to manage, qualify, inspect, collate and build tangible inferences from organizational information.
FTI Technology’s data innovation lab was built upon this premise. Designed and powered by our global experts in emerging data sources, disputes, investigations, digital forensics, information governance, data privacy, compliance and digital assets, it drives interdisciplinary efforts to connect, enrich, visualize and act on digital information. Data innovation is part of FTI Technology’s multi-faceted strategy to meet client needs in real-time by addressing the evolving capabilities and constant changes in relevant technologies.
Our data innovation lab is coupled with end-to-end, consultative expertise in program development and event-driven responses — especially in disputes, investigations, corporate transactions, privacy, security, governance, compliance and legal operations — and a uniquely qualified team. The types of issues we are actively addressing include examples span corporate information systems and relational data lineage, quality and governance to address regulatory requirements, competitive objectives, supply chain challenges and privacy concerns.
Identifying, maintaining and supplementing the order and relationships between various digital sources of information, across structured and unstructured repositories, brings significant value to proactive, day-to-day and reactive scenarios. Novel use cases include financial compliance investigations and analysis of data impacted by breaches. Further, by aligning and measuring features of data relative to trends within and across the information itself, as well as in comparison to relevant regulations, through a client-centric approach, our teams enrich data to reveal insights that may not have been otherwise discovered.
The increasing velocity of development and expansion in technologies is creating an enormous amount of digital information with impacts that are truly exponential, if not immeasurable. Consider robots that are actively being developed, tested and used in industrial settings. In early test programs, robots are programmed to roam industrial facilities in a calculated manner, capture images and video, translate the images into data, capture data from other devices and presumably pass all of that information to central data stores.
Now, consider just some of the likely implications. Are images of employees being captured and stored in a way that connects their image to their private information? Are various measurements relevant to facility performance that should be benchmarked against contractual commitments or shortcomings in performance? Can video and images be effectively cross referenced to derived data, along with employee communications and actions related to the information transmitted? If so, consider all the standard, yet potentially overlooked, governance considerations revolving around custody, access, storage, retention, legal hold and disposition.
These considerations are only some of the latest in an ongoing digital saga. They are precisely the types of challenges and opportunities FTI Technology’s experts are energized and qualified to tackle. Leading the charge in solving problems around emerging data and digital risk, and the full spectrum of the Digital Insights & Risk Management framework, is a pillar of FTI Technology’s legacy and continued strategy. Our data innovation lab serves as the next evolution of our approach to these issues. Please contact us anytime and look forward to ongoing updates about new innovations and solutions from this cutting-edge work.
The views expressed herein are those of the author(s) and not necessarily the views of FTI Consulting, its management, its subsidiaries, its affiliates, or its other professionals.