Here is the Information Governance Gap Revealed across US and UK Companies.
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| Crédit:Recommind |
We talk about the findings of independent research into policies adopted
for information governance (IG) in the United States and United Kingdom. Released
by Recommind, one of the leaders in unstructured data management, analysis and
governance technology, Connectikpeople has observed that, the surveys were
designed to discover what companies currently have in place to govern their
growing data reserves and determine if these practices are effective at
mitigating risk and
compliance issues.
For those who unfamiliar, Information governance is billed as a
cross-departmental approach to optimizing the value of information simultaneously
associated risks and costs.
Included in the findings, in the U.K., for instance, 75 percent of
organizations claim to have a policy in place to manage their data, and almost
half (49 percent) rely on end users to self-categorize information.
Findings from the U.S. show that 58 percent claim to have an IG policy in
place, 64 percent say that their practices are only “somewhat effective” and
over half (52 percent) rely on end users to manage their own data.
It is this overreliance on employee-based governance that is giving
organizations a false sense of security. While it’s positive that organizations
recognize the need for information governance, many are still not taking the
requisite steps to truly govern their information in a proactive manner. In
fact, many are still in the dark about governance and don’t have a full sense
of the data deluge they are currently facing.” Commented, Dean Gonsowski,
global head of information governance at Recommind.
Connectikpeople can also observe that:
·
Of the U.S. organizations that
were surveyed, 82 percent agreed that some form of auto-categorization and
tagging of data is a key component of effective information governance, and 86
percent agree that auto-categorization needs to be based on content, not just
keywords.
·
Of the U.K. organizations
surveyed, only 24 percent know how much data their company holds, and it takes
an average of three hours for employees to retrieve specific information, this
is before they are able to begin managing and analyzing this data and
understand its risks,
·
Systems and tools are now
available that can drive auto-categorization of data coherently and
comprehensively, removing reliance on individuals and eliminating the inherent
inefficiencies.
·
These technologies tackle
large data volumes across systems and geographies, examining unstructured as
well as structured data, all while giving companies better precision and
recall.
·
Enterprises are increasingly turning to data
management tools and services that provide rapid indexing, search and granular
categorization capabilities to ensure measureable information governance.
·
In the U.S., 86 percent of
respondents agreed that such a robust information governance program would
reduce eDiscovery risks, and 73 percent said it would reduce eDiscovery costs.
Additionally, 55 percent felt that such processes would reduce the amount of
organizational data.
Finally according to David Horrigan, an information governance analyst at
451
“Not having a proactive IG policy leaves companies open to substantial
fines, litigation risk, security breaches and compliance issues. This research
shows that there are still too many organizations exposed to these unnecessary
risks. Robust information governance principles, supported by proven
technology, can help alleviate these concerns and increase efficiency, saving
time, money and resources.”
Notes about the research
In the U.S., the independent research was carried out by Osterman Research
in June 2013, interviewing 113 organizations with a minimum of 500 employees.
Interviewees included CIOs, the data/information decision maker in the CIO’s
office and the data/information decision maker in the corporate IT department.
In the U.K., the independent research was carried out by Vanson Bourne in
October 2013, interviewing 200 organizations from private sector organizations
with more than 1,000 employees. Interviewees came from risk/compliance, legal
and IT departments in financial services, IT/telecoms, retail, manufacturing,
business and professional services, transport, travel and logistics
organizations.
About Osterman Research
Osterman Research provides timely and accurate market research, cost data and benchmarking information to technology-based companies. For more information visit www.ostermanresearch.com
Osterman Research provides timely and accurate market research, cost data and benchmarking information to technology-based companies. For more information visit www.ostermanresearch.com
About Vanson Bourne
Vanson Bourne is an independent specialist in market research for the technology sector. Vanson Bourne’s reputation for robust and credible research-based analysis is founded upon rigorous research principles and the ability to seek the opinions of senior decision makers across technical and business functions, in all business sectors and all major markets. For more information, visit www.vansonbourne.com
Vanson Bourne is an independent specialist in market research for the technology sector. Vanson Bourne’s reputation for robust and credible research-based analysis is founded upon rigorous research principles and the ability to seek the opinions of senior decision makers across technical and business functions, in all business sectors and all major markets. For more information, visit www.vansonbourne.com
