The informative article asserts that effective information governance aids data compliance, eDiscovery and strategy while reducing risk and saving time for the organization. The author then advocates a step-by-step approach to building an information governance strategy. He urges companies to seek executive sponsorship, establish a retention policy, educate employees and tie information governance initiatives to an existing business goal or problem.

“The usefulness of data determines its value,” stated Greg Smith, Vice President of Services Delivery at Messaging Architects. “Once you have properly categorized information, you can apply data analytics to drive business initiatives and support operational strategy.”

Mismanaged Information Increases Costs and Liability

“On average, a data breach will cost an organization $3.86 million. But the danger of data falling into the wrong hands goes beyond money. In healthcare, for instance, a ransomware attack can disrupt care and significantly impact patient confidence. And a report from the National Cyber Security Alliance showed that nearly two thirds of small businesses close within six months of a cyber-attack.”

“On the other end of the spectrum, organizations store huge amounts of information that is either redundant, outdated or trivial (in other words, ROT). That unnecessary data eats up storage space and can prove a legal liability in the case of an eDiscovery request. Finally, with so much unorganized data, organizations cannot find and use information for strategic planning.”

Information Governance Aids Compliance and Strategy, Reduces Risk and Saves Time

“For many industries, a significant benefit of information governance includes data compliance. Laws such as HIPAA and GDPR set strict rules to protect personal information, invoking stiff penalties for organizations that fail to comply. Organizations following best practices of information governance can easily demonstrate regulatory compliance.”

“Furthermore, the usefulness of data determines its value. Once you have properly categorized information, you can apply data analytics to drive business initiatives and support operational strategy.”

Tap into Existing Expertise

The team of experts at Messaging Architects brings decades of experience in information governance. They help organizations develop comprehensive strategies for data and records management, as well as information security.