What is FDA?
Today’s businesses are drowning in data — it permeates everything, from customer records, to logistics networks, to internal IT systems. In just a single hour, a major company can generate millions of transactional records. IDC forecasts by 2025 the global datasphere will grow to 163 zettabytes (that is a trillion gigabytes).1 “Another way of thinking about it is that if you took every book ever printed throughout history (estimated at about 130 million individual titles), today we produce that same amount of content almost 1,000 times every second, or 80 million times per day!”
If staying on top of this ever-growing universe of data isn’t sufficiently demanding, external factors can appear — such as litigation or new regulation — that require companies to know exactly where the data being requested can be found. There’s a story about needles and haystacks that jumps to mind.
Here’s where FDA comes in: by querying and analyzing structured and unstructured data, FDA helps companies identify patterns of data, or information deduced from multiple data sources, that deserve closer attention for risk control purposes such as compliance monitoring. Advanced FDA technologies can enable companies to scan the entire relevant data set, instead of having to rely on sampling that may not always give you the complete information.
For instance, a company that suspects it has been the subject of insider sabotage could apply FDA tools across multiple sets of data, such as network access logs. Management can then initiate investigative procedures if the analysis identifies suspicious patterns.
Think of it as a sieve that can sift through huge troves of data and give managers what they need to do their jobs in a timely and precise manner.