Data analytics in compliance: Time to get started, or expand, in 2025
By 
Aaron Nicodemus2024-12-30T21:00:00
Launching or expanding a corporate data analytics program for compliance can seem like a daunting task, but it is one worth adding to your to-do list in 2025.
Using data analytics can transform the effectiveness of your compliance function. Done right, data analytics can reduce the time your team spends monitoring transactions, freeing up your team to spend more time evaluating and mitigating difficult issues. It also allows compliance teams to recognize, assess, and mitigate emerging risks, while also recognizing patterns in data that human analysts overlooked.
More and more, regulators are expecting companies to use data analytics to aid in decision-making and to make compliance more effective and efficient. The Department of Justice’s Evaluation of Corporate Compliance Programs (ECCP) says prosecutors expect companies to assess the effectiveness of their compliance programs using data analytics.
Related articles
-
PremiumWhen starting on data analysis projects, start small and find allies
Compliance has long been reluctant to tap the power of its organization’s data. Some of that hesitancy is institutional, either through inertia or outright hostility. Data is often kept in siloes, overseen by different administrators, stored in different systems.
-
PremiumKPMG report on regs in 2025: Use data analytics to predict, respond to Trump administration changes
Regulations are sure to be rolled back under President Donald Trump, but the question is which regulations, and how much? Is your organization as prepared to respond when regulations are loosened as it was when they were tightened?
-
PremiumEx-Albemarle CCO shares drivers behind data analytics success at CW2024
Former Albemarle CCO Andrew McBride explained at Compliance Week’s 2024 National Conference how he led the company’s compliance department to remediate the issues that led to apparent FCPA violations and how the team used data analytics to assess risks and implement compliance solutions.
More from Technology
-
News BriefGoogle AI Overviews under EU scrutiny after publishers file antitrust complaint
Google has once again been hit with an antitrust complaint. This time, it’s not about its Chrome browser or Google Search business, but instead the company’s use of AI.
-
PremiumQ&A: Symphony general counsel Corinna Mitchell on regulators’ push for supply chain resilience
Secure, resilient communications and trading platforms are critical both to financial services firms and to governments that know their economies depend upon them, says Corinna Mitchell, General Counsel at FS digital communications provider Symphony. That’s why her company is investing more in managing rapidly evolving compliance demands from multiple regulators ...
-
PremiumEDPB shift forces AI firms to embed procurement, risk management in GDPR considerations
Efforts to clarify the circumstances in which artificial intelligence models may or may not be violating the General Data Protection Regulation could result in yet more confusion for tech firms, companies deploying the technology, and even data protection authorities, according to experts.