ISSUE #63 – Organisations are dealing with an increasing variety, velocity and volume of data. Christopher Muffat, CEO and Founder of Dathena explains how their platform assists organisations in protecting their data.
If you don’t know what data you have, and where it is, how would you know who has access to it?
What sort of problem does Dathena solve?
With the exponential growth of technology solutions, people are creating and sharing more and more electronic data, and there has been more data created in the last two years than in the entire history of the human race. Given this phenomenal amount of ‘big data’ being generated daily, if left unmanaged, this presents a huge risk from an information security and intellectual property perspective. If you don’t know what data you have, and where it is, how would you know who has access to it?
In a nutshell, Dathena specialises in giving organisations enterprise-wide visibility and control over their data. On top of providing Information Risk management solutions, it also seeks to act as an interface between business decision-makers and their desire to base decisions on fact and quality data. Dathena is able to go far beyond a simple risk reduction concept: it provides a variety of indicators to better manage a business while reducing costs and improving regulatory compliance. According to Baseline, a 10% increase in data accessibility translates into an additional $65.7m in net income for a typical Fortune 1000 company.
Dathena specialises in giving organisations enterprise-wide visibility and control over their data.
Across all industries, organisations are asking the same questions around managing their data:
- How to properly manage confidentiality and ownership of data when data per user increases by 27% every year?
- How do you ensure proper data access and ownership and avoid possible leakage?
- How do you know you are not storing your secret data on the public cloud?
- How do you comply with regulation, company policy and standard and ensure retention rates, policies compliance, etc.?
- How do you avoid data redundancy and optimise storage costs?
- Do you know your crown jewels and how to protect them accordingly?
These are the problems that Dathena has been tailor-made to solve.
How did you get to this idea? How does it work?
The idea for Dathena came whilst I was working in the financial services industry. There was no solution on the market that could accurately and efficiently detect, classify, and protect the massive volumes of data I was working with. I was convinced that we could create an all-in-one smart data governance, security and compliance platform, supercharged with the latest artificial intelligence technology.
There was no solution on the market that could accurately and efficiently detect, classify, and protect the massive volumes of data I was working with –
I was convinced that we could create an all-in-one platform, supercharged with the latest artificial intelligence technology.
Dathena analyses every single electronic data file, understands its content in 70 languages and predicts its level of confidentiality and business category far more effectively and consistently than a human ever could. Moreover, the use of machine learning allows the software to learn along the way, becoming better at what it does. This targeted data-centric approach is unique to Dathena’s software and is superior to the traditional “protect everything” approach based solely on keywords and patterns.
Dathena then automatically correlates this knowledge with the user access rights to draw a clear picture of what is going on within the organisation by providing more than 70 indicators via a simple dashboard, i.e. Who accesses client data? Who are the users at risk? Who are the top contributors to a certain topic?
Dathena is collaborating with PwC. How did this come about and what does about this partnership entail?
The genesis of the partnership between Dathena and PwC started whilst Dathena was still in the concept phase. PwC are technology innovators, and they saw the potential in the Dathena solution, and how it could be used to better meet their clients’ data protection needs. This sparked the relationship between PwC in Geneva and Dathena began. PwC began using Dathena software for audit and remediation purposes.
This unique strategic alliance combines Dathena’s accurate technology and implementation capacities with PwC’s multidisciplinary capabilities in digital strategy, transformation, experience and design, data analytics and cybersecurity. PwC also decided to create a Centre of Excellence (CoE) for Dathena in Switzerland.
A Dathena project is usually handled as a triumvirate: Dathena provides the solution, a system integrator deploys the software and PwC will take care of the remediation triggered by the Dathena analysis.
A unique strategic alliance between Dathena and PwC
What are the next steps for your company?
The strategy is to focus on R&D while our network of partners takes care of the integration of the software, as well as the remediation that comes following Dathena’s initial risk assessments. We are focusing on building and executing on our product roadmap, which includes some very exciting new features such as the ability to classify audio and scanned images. Given the dynamic and ever changing nature of technology, Dathena is always looking to adapt and innovate to meet new challenges and market demands. We are also opening an office in the US to expand our worldwide presence – Dathena’s headquarters are in Singapore while our office in Switzerland handles the European market.
Dathena has been operating as a self-funded entity for 12 months, and we are looking at a first round of funding at the end of the year to support our R&D efforts.
We are looking at a first round of funding at the end of the year to support our R&D efforts.
Dathena is a Swiss and Singaporean company developing data governance software based on machine learning algorithms. It is the most complete and accurate data governance platform, helping any organization to classify data, detect security anomalies, protect sensitive information and comply with regulations.
Interview with Christopher Muffat, CEO and Founder of Dathena
Published in FOCUS Magazine — Issue #2 2017 “Future Economy”