The bedrock of modern business? Data and information. The amount of them being generated is growing at a seemingly exponential rate, and managing that flood is a gigantic task. Just two of the new data management complexities businesses must deal with..?
Coping With the Three V’s: More firms depend on Big Data, as defined by three key vectors – volume, variety, and velocity. They’re all growing fast, and mismanaging them can have dangerous consequences:
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Facebook stores upwards of 250 billion photographs, belonging to its over 2 billion users.
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Yet on the flip side, Facebook suffered great reputational damage in 2018 for how it used personal data and allowed others to use it.
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More U.S. corporate employees work from home than ever before, rising 140% from 2005-2018.
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4.3 million work from home at least half the time.
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From 2015-2016, the telecommuter population grew by 11.7%, the biggest YOY growth since 2008.¹
¹GlobalWorkplaceAnalytics.com
Information governance is an enterprise’s strategic approach to managing its information, whether in digital data, documents, or archival records, in order to support business outcomes.
It can involve a wide range of cross-disciplinary policies, procedures, controls, tools, and technologies that help a company meet regulatory, legal, and operational demands.
By balancing the proper use of data and information against regulatory and security demands, information governance via proper data management can:
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Maximize the value of that data to the company
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Enable legal compliance and risk mitigation
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Enhance operational transparency
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Reduce likelihood, instances, and costs of legal discovery and regulatory penalty
There are multiple elements to any successful corporate information governance program, and here are just a few of the mainstays: