Industry signs data protection standard

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The e-commerce and data solutions provider Aero and one of the analytical conferences Matemarketing surveyed more than 60 e-commerce directors, digital technology managers and other top managers of Russian companies from 11 market segments.

"Companies work with Big Data to save billions of rubles, get ahead of competitors and increase loyalty. However, 53% of executives do not trust the data on which they make business decisions. The answers received allowed us to identify the problems that businesses face when working with analytics and reporting, pakistan whatsapp resourceas well as to formulate key trends in data management. Thus, it turned out that 90% of respondents make decisions based on analytical data, but only 13% are completely satisfied with their quality and volume. 21% use an approach in which data and analytics are used to make decisions at each stage of product development," the study says.

72% of respondents admitted to having faced financial losses that could have been avoided thanks to high-quality data. Another 53% complained about the lack of end-to-end analytics and inconsistency of figures in different departments. A representative of the press service of the Big Data Association (BDA) told a ComNews correspondent that data quality is a key issue for all enterprises, and 53% is a realistic figure reflecting the existing problems: "Currently, data governance programs are long-term initiatives that require significant investment. Nevertheless, we consider the fact that companies are beginning to realize the importance of working with data and investing in its quality to be an excellent signal."

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Russian companies have signed an industry data protection standard that allows them to voluntarily undergo independent audits. The standard could impact the way they do business.

A representative of the ABD press service said that the Ministry of Digital Development and Communications and the ABD are working on proposals to improve the quality and accessibility of government data: "Joint efforts by the state and business to improve the quality and accessibility of data and investments in these areas create good prospects for further growth and successful use of big data in the Russian data economy."

A representative of the ABD press service noted that the Russian Federation is one of the leaders in terms of growth rates of the data and artificial intelligence market: "Our domestic market is still a small part of the global market, but in terms of growth rates, we are trying to keep up with others. Separately, we note that, according to the 2024 big data market development strategy, in 2023, the market growth trends and the effect of implementing big data technologies are higher than the trends of 2019 and 2020. Compared with the forecast of the 2022 strategy, the projected market volumes for 2024 have grown from 176 billion rubles to ~319 billion rubles, and the effect for the same year is one and a half times, up to 1.6 trillion rubles."

Representatives of the Ozon, Yandex Market, Wildberries and classifieds marketplace Avito did not answer questions from a ComNews correspondent.