In today’s era of data, enterprises are experiencing overloading of data they collect, store, and process. Gloomily, most of the time companies slipped to measure the importance of the “Information” they are handling and what velocity, variety, veracity, and the volume they have. Improper governance on company information may lead to some serious legal and financial penalties. A decent “Information Governance” inside your organization can assist you to stay away from a similar destiny.
Information governance (IG) is a comprehensive way to manage corporate information by executing processes, roles, controls, and metrics that treat “Information” as a valuable business asset. It also assists with legal compliance, operational transparency, and reducing expenditures associated with legal discovery. In this digital era, it is crucial to building up a steady and consistent system for employees to handle data through their information governance policies and procedures.
Information governance embraces more than traditional records management. Gartner defines information governance as “the specification of decision rights and an accountability framework to ensure appropriate behavior in the valuation, creation, storage, use, archiving, and deletion of information. It includes the processes, roles, and policies, standards, and metrics that ensure the effective and efficient use of information in enabling an organization to achieve its goals.”
The Information Governance Initiative defined IG as “the activities and technologies that organizations employ to maximize the value of their information while minimizing associated hazards and values.”
Information Governance brings significant value and benefit to managing regulatory, legal, and business-critical records across their digital estate. For example, implementing regular disposition of data that are no longer required, reduces your organization’s legal exposure.
Information governance (IG) is imperative to an organization’s success. The goal of the information governance strategy is to use data in different ways that enable faster and better decision making. Do not be afraid to take chances or try something new. Consider getting started right away, before your organization suffers a breach, fails an audit, or faces a lawsuit.
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