By Adam Turteltaub

Data analytics is a pretty darn big deal in compliance and ethics these days, with rising expectations for compliance programs to be able to demonstrate their effectiveness using hard data. The word “data” even appears a dozen times is the US Department of Justice Criminal Division’s Evaluation of Corporate Compliance Programs document.

Walter Appleby, formerly VP, Compliance & Ethics at Georgia-Pacific and Rosie Williams, Director, Compliance & Ethics were scheduled to address “Harnessing the Power of Data:  Unleashing Compliance Excellence” at the SCCE 23rd Annual Compliance & Ethics Institute, which will be held September 22-25, 2024 in Grapevine, TX.

Unfortunately, after recording this podcast they had a scheduling conflict for the CEI.  Nonetheless, we are still fortunate to share the conversation.  In it they explain that better use of data carries a number of benefits including a stronger risk assessment and management program, better informed decision making, and more effective use of compliance resources.

Data analytics begins with collecting together the data you have and determining its quality. As the old adage says: bad data in, bad data out. Sources of data can include your helpline, training statistics, HR and even legal.

You will also need to determine which metrics best reflect the performance of the compliance program. Here, the risk assessment is helpful, but so too is taking the time to listen to and think through the needs of your customers in the business unit.

Next, determine the proper recipe for integrating the various data resources so you and leadership can gain insights into gaps and deficiencies. This likely includes taking the time to think graphically to determine how best to visualize the data in ways management finds useful.

Listen in to learn more about how to use data to pinpoint issues, identify opportunities and assess the effectiveness of your program. And, we still hope to see you at the 23rd Annual Compliance & Ethics Institute.