Data hk is the collection of information that can be used to make informed business decisions. It can be gathered from both primary sources such as field observations and secondary sources like published reports. Companies collect and analyse data to understand trends, develop new products, predict customer behaviour and identify potential problem areas. It’s widely used in many different industries including financial services, insurance and marketing.
It’s vital to have a clear vision and business case for your data governance program. A vision spells out your broad strategic objective for building the program while a business case articulates the specific business opportunity you’re trying to address. A well-defined business opportunity and a clear vision will enable you to create a pragmatic project plan with tangible tasks. This will include the actual people (roles), technologies and processes that you’ll need to support your program.
Privacy concerns in Hong Kong have been heightened recently due to the furor surrounding Octopus Rewards’ sale of personal data for direct marketing purposes. The data collected by Octopus included an individual’s name, HKID number, passport number, month and year of birth. This was deemed excessive for the purpose of conducting customer authentication and therefore in violation of DPP1.
A discussion paper released by the Hong Kong government explored the possibility that the definition of “personal data” would be revised to extend to a broader range of uses, similar to the GDPR. This would increase compliance measures for businesses that use information about individuals.
To ensure that your data governance program is a success, you need the right people in place. This includes data stewards, who are subject matter experts in both business and IT. The best stewards are experienced business analysts who can act as communication bridges between both parties. Data governance leaders help to prioritize initiatives and drive ongoing audits. They also serve as the point of escalation for any issues with your data governance program.