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5 benefits of information governance

JudyRedman ‎01-30-2012 12:41 PM - edited ‎06-22-2015 08:38 AM

Big data and the information explosion are causing significant effects in IT. Some organizations are drowning in data, with the result that application performance is slowing down, backup windows are increasing, and they can’t predict their storage growth any longer.

 

Yet data itself isn’t the trouble. Information is only problematic when our information governance fails to tell us what it is or what we need to do with it.

 

Enterprises willing to create automated processes to identify and value business data can take control of information before the big-data onslaught swamps them. As a result, they can meet key corporate objectives, such as lowering costs, lowering risk and making better business decisions.

 

A key piece of information governance is an information classification initiative to let an enterprise assess its data. Once classification is complete, the business can use this knowledge of what it has to strengthen its governance processes – and that’s where true business value is created.

 

Five benefits of information governance

The five practical benefits of information governance include:

  • Better customer service—Customer-facing agents can quickly find any and all information about a customer and his or her transactions.
  • Shorter sales cycles—With contextual information, you can draw meaning, make better business decisions and close more business with less effort.
  • Better business intelligence—Fast access to historical data can make the difference between an optimal decision and a haphazard guess.
  • Greater regulatory compliance—Gathering data for an audit can be done simply and efficiently.
  • Reduced legal costs—A fast and thorough e-discovery response cuts expenses and can increase the likelihood of a favorable settlement or ruling.

 

Most important, when you don't know what your data is, you're forced to treat all data equally, which is not only inefficient and expensive, but inherently risky. Information governance can significantly reduce the cost of maintaining information, no matter how much it grows or diversifies.

 

This post is adapted from a longer article that appeared in the Discover Performance newsletter. Sign up today to receive more actionable insight that can help you turn IT performance into business success.

 

To find out more about the process of classifying business information, see our white paper, "Establishing a best practice enterprise classification scheme," and read more about the benefits of enterprise records management.

 

About the Author

JudyRedman

Judy Redman has been writing about all areas of technology for more than 20 years.

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