ASSESSMENT REPORT DPL30043
DATA TRANSPARENCY
SESSION: I 2022/2023
PREPARED BY :
NO
NAME
MATRICS NO.
1
WAN FATIN AFRINA BINTI WAN ABD RAHMAN
10DLS21F1052
2
DENNIS S/O PITHER
10DLS21F1057
3
HOMISHWARRY D/O MUTHUKUMARAN
10DLS21F1059
CLASS : DLS3B
PREPARED FOR :
PUAN MARIATI BINTI BAHARUN
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TABLE OF CONTENTS
NUM
CONTENTS
PAGE NUMBER
1
Definiton of data transparency
3
2
Main aspects of data transparency
3
3
Benefits of data transparency
4
4
Risk without data transparency
5
5
Data transparency checklist
6
6
Conclusion
6
7
Suggestion to improve data transparency in
7-8
companies
8
Example of companies used data transparency
9
9
Refferences
10
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1. DEFINITON OF DATA TRANSPARENCY
•
Data transparency is where companies collect the personal and business data and data
insights of their customers, or outside their organization.
•
Supply chain transparency requires companies to know what is happening upstream in
the supply chain and to communicate this knowledge both internally and externally.
•
A company is held legally responsible for the statements they write in their privacy
policy. That means they could face legal repercussions if they share or sell data without
the knowledge or consent of their prospects, clients, or customers.
•
Transparency can be measured along two dimensions: supply chain scope (the depth of
interaction in the supply chain) and milestones on the path to complete transparency.
2. MAIN ASPECTS OF DATA TRANSPARENCY
•
There are two main aspects to data transparency.
•
The first is transparency within the communication system through which the data
flows.
•
This means that data should be easily accessible and manageable regardless of the
application that originally received it and how it was collected, transmitted, and stored.
•
The second aspect of data transparency concerns the origin of data and its accuracy,
consent, and use.
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3. BENEFITS OF DATA TRANSPARENCY
I.
Consumers
•
•
By giving them confidence in the system they entrust with their data.
Ensures customer expectations are met accordingly, thus boosting the firm's
customer retention.
•
Building customer loyalty is by the simple acts that businesses and employees
portray.
•
Honesty allows clients to comfortably view and consume your products, support
your brand and other business practices.
II.
Marketers
•
They are confident in the accuracy of the data.
•
Makes trust possible, and trust is an essential foundation for any long-lasting
relationship.
III.
Platforms
•
Confirm that the data collection method is reliable.
•
To give greater insight into procurement spending by opening access to key
procurement information and providing it in a user-friendly format.
•
Allows monitoring of procurement expenditure and acts as a deterrent for
corrupt practices.
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4. RISK WITHOUT DATA TRANSPARENCY
•
You could face lawsuits
Affected customers may choose to sue your business, costing thousands or millions in
legal fees and reimbursements. You could also face penalties from local authorities for
not being transparent about your data or not implementing proper security measures.
•
You can be held for ransom
Businesses can be hit with ransomware and have their data hijacked, whether from a
competitor or from hackers looking to extort money or proprietary information about
your products or services.
•
Your reputation can be destroyed
Customers want to trust the companies they buy from; data breaches can damage your
reputation and public image. It tells you that you have no security measures in place to
protect your information.
•
Your business operations can be disrupted
Data breaches require cybersecurity experts to conduct internal investigations to locate
the source of the attack, understand the extent of the breach, develop mitigation
strategies, and eliminate key threats. Operations can be greatly reduced before further
attacks occur.
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5. DATA TRANSPARENCY CHECKLIST
•
Protect your website with antivirus software and a secure sockets layer (SSL). This
method of encryption ensures that all data your customers enter through forms on your
website is encrypted and cannot be used by hackers.
•
Get data breach and cyber security training for leaders of your company to stay on
top of the latest software and strategies to protect data and know-how to train and
prepare their staff.
•
Train your employees on safety procedures, including not sharing files, passwords,
or sensitive information outside the company.
•
Carefully read any third parties’ privacy policies such as tech subscription services,
and financial services, research the company, and ask if they have had any data breaches
before you decide to work with them.
•
Hire cybersecurity specialists to provide yearly check-ups across your website,
databases, software, and servers to find any weaknesses hackers may find to steal your
data.
6. CONCLUSION
Therefore, Data transparency and traceability are essential for protecting our privacy and
safeguarding our planet. Companies that don't adhere to these standards will find
themselves at a disadvantage in the increasingly competitive global marketplace.As
highlighted in this report, transparency reporting has emerged as a valuable practice for
companies and organizations across a number of industries. These reports enable the public
and policymakers to hold these organizations accountable for their policies and practices
and provide important qualitative and quantitative insights to stakeholders. Although
transparency reporting does come with some challenges, related to for example, risks and
standardization, the practice has significantly transformed what meaningful transparency
and accountability looks like in numerous sectors. Going forward, we hope to see more
companies across more sectors adopt this practice.
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7. SUGGESTION TO IMPROVE DATA TRANSPARENCY IN COMPANIES
I.
Only collect necessary data
One of the easiest ways to improve data transparency is to reduce the amount being
collected. It can be tempting for software developers to collect a broad range of
information with the reasoning that it’s better to have and not need. However, this
creates a couple of issues for software developers.
Unnecessary data takes up valuable storage space in servers, which quickly gets
expensive. Additionally, software developers are responsible for ensuring the
security of the information their program collects, and unnecessary data adds
complexity to that task. Finally, a major component of data transparency is
communicating how and why it’s collected with users. Anything not needed will
make this much more challenging and leave people wary or confused.
II.
Understand regulations
In addition to internal data transparency policies, developers must be aware of
regional legal regulations. Many areas have adopted strict information protection
legislation over recent years, which may impact how developers approach
transparency.
One of the most well-known regulations is the European Union’s General Data
Protection Regulation (GDPR). GDPR includes strict developer guidelines for
collecting and processing personal information. Under these regulations, developers
must provide clear legal reasoning for collecting user data and follow processing
rules such as storage limits and confidentiality.
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III.
Establish a data transparency policy
More businesses are adopting formal companywide data transparency policies.
Software developers should consider adding these to their teams as well. This policy
ensures accountability for developers and clients, which helps build trust with users.
A data transparency policy often includes details such as required communication
with users, standards for the internal handling of data, and restrictions on what data
is permitted to be collected. For example, a client might need users to be informed
about any personal information being saved by a piece of software. A data
transparency policy may also address whether or not people can opt-in or out of
collection.
IV.
Map out how data is collected and used
Optimizing and improving data transparency relies on maintaining a clear
understanding of exactly where information goes once it is collected. This includes
where it's stored, how it's moved to another location, and who has access to it.
Mapping out all these elements can reveal areas for improvement.
For example, industry experts have pointed out that permissions for user data should
be restricted to only those who need access. This helps reduce the risk of a leak and
makes it easier to track how it’s being handled, improving transparency
communication.
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8. EXAMPLE
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9. REFFERENCES
https://globalmarketingprofessor.com/the-importance-of-transparency-in-socialmedia-marketing/
https://dzone.com/articles/how-to-ensure-data-transparency-and-why-its-import
https://sustainlab.co/blog/why-data-transparency-and-traceability-matter-insustainability
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-END OF REPORT-