Reliance on data in conducting modern business can create a significant amount of legal and compliance risk for companies that don’t have a good handle on it. Two experts in the space shared how they are successfully integrating data intelligence into their organization’s operations at Diligent’s virtual “Modern Governance Summit” on Sept. 15.
Each company must decide for itself what key performance indicators (KPIs) are most helpful in terms of data capture. One KPI for compliance officers to consider is “takt time,” said Daniel Garen, chief ethics and compliance officer at smart home company Vivint. Takt time, derived from the German word “Taktzeit” (meaning “cycle time” in English), traditionally has been used as a manufacturing principle but has since made its way into the compliance space, Garen said.
