Data is more than just information. In the age of analytics-as-a-service, it is a valuable asset with a global value of $274 billion. Data providers collect and package data for sale, but gaining and maintaining trust can be difficult. Independent audits can help assure buyers of the reliability and quality of the data. They also check for opt-outs and compliance with standards like GDPR and SOC-2.
Poor data quality can cost businesses a lot of time and money. Audits can also ensure legal compliance and establish trust between buyers and data providers. Best-practices for independent audits include transparency, thoroughness, and compliance.
Data providers need to make sure auditors have everything they need to determine whether the data is of high quality and usable. Audits should also prioritize compliance with standards like GDPR and SOC-2. Independent audits are essential for data providers and buyers alike, helping to build transparency and trust in the market.
Data Providers Need to Allow Independent Audits. Here's Why.
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