Data Management Report Sample

Data Management Report

Task- Individual Perform the following Task.

Consider the recent data breaches experienced buys Optus, Medibank and QUT in recent months and write 300-500 words on the importance of data management. Consider the following in your discussion:

• How should data be collected and stored?

• What disclosure or disclaimers should be considered?

• What is the ethical use and management of data?

• What are some of the implications of not considering data requirements, security and access?

Marking Criteria:

• The key considerations for ethical use of data are clearly articulated and comprehensively discussed & excellent formatting and impeccable grammar.

• The Key considerations for ethical use of data are clearly identified and discussed & good formatting and very minor grammatical errors.

• The Key consideration for ethical use of data are adequately identified and discussed & satisfactory formatting and a few grammatical errors.

• Some of the key considerations for ethical use of data are identified and discussed & poor formatting and many grammatical errors.

• None of the key considerations for ethical use of data are identified or discussed & non-existence formatting and rife with fundamental grammatical errors.

Solution

According to the MBA Assignment Expert

With businesses gathering and keeping massive volumes of data on people and society at large, data management has recently become a crucial issue. The main issues for ethical data usage and management will be discussed in this conversation, including how data should be gathered and maintained, what disclosures or disclaimers should be taken into account, and the repercussions of not taking data needs, security, and access into account. To preserve the privacy and dignity of data subjects, guarantee compliance with applicable laws and regulations, and shield companies from financial and reputational loss, proper data management is crucial. (Romanosky et al., 2011)

Any business that gathers, processes, stores, and manages data must also practise data management. Optus, Medibank, and QUT have all recently had data breaches, underscoring the significance of effective data management. In this discussion, we'll examine the significance of data management, best practises for data collection and storage, disclosures and disclaimers to take into account, ethical data usage and management, and the repercussions of not taking data requirements, security, and access into account. (Wirtz et al., 2014)

First and foremost, data must be gathered and kept in a way that assures its privacy, accuracy, and accessibility. Businesses must make sure that data is only acquired with the agreement of the data subject and that it is only used for lawful reasons. Only authorised individuals should have access to the data, which should be securely kept. The accuracy, completeness, and currentness of the data should also be guaranteed by the organisations. (Wheatley et al., 2016)

Second, businesses should think about include notices and disclaimers about data collection and usage. The goal of the data collection, the parties with whom the data is shared, and the data subjects' rights will all be made clear as a result, protecting the privacy of the data subjects. The disclosures and disclaimers should be written in simple, understandable language. (Porter & M.E., 2008)

Finally, it's crucial to utilise and handle data in an ethical manner. The privacy and dignity of the data subject should be respected, and organisations should make sure that the data is only used for legal purposes. Moreover, organisations must make sure that the information is not used to discriminate against certain people or groups. Organizations must be open and honest about how they acquire and use data, and they must do routine audits and reviews to make sure that they are abiding by all applicable laws and regulations .Ultimately, there may be serious repercussions if data needs, security, and access are not taken into account. Data breaches can seriously harm an organization's finances and image. Moreover, data breaches can lead to financial fraud, identity theft, and other types of cybercrime that are harmful to both people and society at large. As a result, businesses need to take data management seriously and make sure they have solid policies and processes in place for doing so. (Almeida et al., 2013)

In conclusion, any company that gathers, processes, stores, and maintains data must have effective data management. Optus, Medibank, and QUT's most recent data breaches serve as a reminder of how crucial adequate data management is. Companies must make sure that the way they gather and keep data maintains the data's confidentiality, integrity, and accessibility. Also, they have to think about include notices and disclaimers about the acquisition and use of data and make sure that data is handled morally. Organizations must take data management seriously since failing to take into account data requirements, security, and access can have negative repercussions.

References

Romanosky, S., Telang, R. and Acquisti, A., 2011. Do data breach disclosure laws reduce identity theft?. Journal of Policy Analysis and Management, 30(2), pp.256-286.

Wheatley, S., Maillart, T. and Sornette, D., 2016. The extreme risk of personal data breaches and the erosion of privacy. The European Physical Journal B, 89, pp.1-12.
Porter, M.E., 2008. The five competitive forces that shape strategy. Harvard business review, 86(1), p.78.

Almeida, F. and Calistru, C., 2013. The main challenges and issues of big data management. International Journal of Research Studies in Computing, 2(1), pp.11-20.

Wirtz, A., Kron, W., Löw, P. and Steuer, M., 2014. The need for data: natural disasters and the challenges of database management. Natural Hazards, 70(1), pp.135-157.