In this age of an abundance of information, companies of all sizes are in a constant struggle to come to grips with the information they possess. It does not matter whether the struggle is to unlock the potential of the information they own or if it is a struggle to remain compliant in a time where the global economy is placing immense demands as far as use and privacy are concerned.
There has been a recent study conducted by experts in the industry where almost half of all respondents stated they did not feel that their company treated the information in their possession as an asset. With this kind of statistic, it is unsurprising that just over three-fourths of the respondents stated that they had significant issues when attempting to find information within their company. If these companies do not have a strategy that is both comprehensive and company-wide, they are doomed to delegate some responsibilities to various departments and employees that may not be the most appropriate choices in regards to these matters. The ensuing results may be terrible experiences when it comes to information location and security concerns.
Companies have begun to spend significant amounts of their budget on these Big Data initiatives. However, it is the process of Information Governance and the resulting strategy which results in determined results and an increase in information functionality.
One of the biggest concerns with the growing use of information is the security and compliance, which must remain at the top of the list. The biggest problem is how to provide the proper information to the correct people at the right time. However, with many organizations, the biggest problems can lie in security breaches from within the company itself. There needs to be a plan in place to better secure the internal information and the process of Information Governance is the surest way to do this.
A company with much experience in the aforementioned fields such as Mitratech can certainly help a company develop such a plan, especially when the company in question has little experience themselves in this realm. By implementing these oft-forgotten strategic ideas, the information that the business possesses can be leveraged into not only growth opportunities but strength-building opportunities as well. It is for this reason that the governance of information is so crucial and is a matter all businesses need to take seriously.
