With the exponential growth of data and personal information collection, more and more companies are recognizing both the inherent hidden value in this data through complex data mining and predictive analytics and the risks of “Big Data.”
While revolutionary, the sheer volume of information available can be daunting for any organization. A company must first define its goals for using that data and then develop a game plan to capture, analyze, organize, and make sense of that data to maximize its value and to optimally leverage it to a competitive advantage.
It comes with legal and regulatory compliance issues as well: complying with notice, consent, access and choice obligations; information security safeguards and best practices; complying with do not track and do not collect requirements; de‐identification and anonymization; and data ownership. We can assist you in developing legally compliant Big Data strategies and solutions related to all your Big Data concerns. A diverse group of Foley attorneys recently wrote a book entitled Big Data: A Business and Legal Guide (CRC Press, 2015). The book is the first comprehensive primer on the legal and business implications of big data. It is designed to help you understand big data and its implications on decision-making in your organization.