Money, Money, Money: Use of Big Data in Your Compliance Program

Explore:  Big Data

What is No. 2 on the biggest selling rock and roll album of all-time list? It’s Pink Floyd’s Dark Side of the Moon. In addition to learning that there is no “dark side” to the Moon as it is all dark really; my favorite cut off the album was the song Money. I was thinking about that song and how it might have some relevance to the Foreign Corrupt Practices Act (FCPA) or Bribery Act, in a rock and roll sort of way, when I came across an article in the October issue of the Harvard Business Review, entitled “Big Data: The Management Revolution” by authors Andrew McAfee and Erik Brynjolfsson. The authors’ basic premise is that by exploiting vast new flows of information, a company can improve its performance. However, to do so there must be a corresponding change in the company’s decision-making culture. In business today, many companies are concerned about having not the new thing but the new, new thing. In the FCPA world we might call that evolving best practices as it is another way to phrase many of the emerging business techniques and strategies that can have application to the FCPA compliance practitioner.

LOADING PDF: If there are any problems, click here to download the file.

Topics:  Big Data

Published In: General Business Updates, Finance & Banking Updates, International Trade Updates, Mergers & Acquisitions Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Thomas Fox | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »