Data-Driven Strategic Planning in Regulatory Compliance Initiatives
DOI:
https://doi.org/10.63282/3050-9262.IJAIDSML-V6I4P101Keywords:
Data-Driven Decision Making, Regulatory Compliance, Strategic Planning, Compliance Management, Risk Assessment, Data Analytics, Governance and Regulation, Business Intelligence, Predictive Modeling, Compliance Automation, Policy Implementation, Organizational StrategyAbstract
Compliance with regulation has shifted to become a dynamic data-centric reporting and regulating financial services, healthcare and energy. The traditional audit and remediation approach which is manual and relies on the conventional compliance approaches can also lead to inefficiencies and a higher exposure to sanctions. This paper will attempt to explore the procedural integration of business intelligence (BI) systems, data visualization, and predictive analytics in the strategic compliance planning. The paper will be focused on evaluating how dashboards might assist in gauging the key risk indicators in close time, and predictive modelling may be implemented to test the modifications in regulations and prepare to them in the long-term, according to the concepts of Basel III, GDPR, and ESG disclosure requirements. The case evidence of the example of banking, healthcare case, and manufacturing indicates that compliance based on analytics is worthwhile and that implementation poses difficulties. The experience in Santander and Metro Bank brings into the limelight the cost of ineffective system integration and system governance. The next change stage, which will lead to efficiency and resilience, is implied by regulatory reporting using AI and data platforms based on standards and cloud-like compliance architecture. The analysis would establish BI-motivated compliance as not only a technical enhancement but as a leadership necessity, and the compatibility of the organization strategy with the evolving regulatory landscapes and the reduction of the vulnerability of the systems
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