The amount of information generated by business today is continually increasing—some estimate 1.8 zettabyes of data will be created in 2011. While word processing, social media, and email have made it easier to create information, it remains important to effectively govern that information in order to minimize risk while maintaining the information’s value to the organization. Information governance is important because it allows business to share information more effectively across departments and geography, and prevent the mistakes and wasted energy so often caused by lack of communication and information silos.
While a company cannot typically control the increasing number of lawsuits, audits, and investigations it may face, it can establish parameters around its response to those obligations, minimize the company’s public scrutiny, remain compliant, and reduce business and legal risk, cost, and impact. To that end, it is important to establish guidelines and policies around information governance and leverage technology to help implement those protocols.
What is “information governance”?
Information governance is not a new term or concept, but it has become more important since the 2006 revisions to the Federal Rules of Civil Procedure, which codified that Electronically Stored Information (ESI) is discoverable in litigation. In order for ESI to be properly preserved and retrieved in discovery, it must be properly managed at all times. Information governance is pivotal in this process, which technology research and advisory company Gartner Group defines as “the processes, roles, standards, and metrics that ensure the effective and efficient use of information in enabling an organization to achieve its goals.” Information governance supports business objectives while managing legal risk.
