Most businesses don’t leverage data effectively. While specific numbers are hard to come by, one estimate says that between 60 and 73 percent of company data goes unused. It just sits in a database, taking up bandwidth, not generating revenue and possibly in violation of regulatory requirements.
The most successful businesses of the next decade will be those that can find, categorize and maintain control of their data. Organizations must maintain governance over rapidly increasing quantities of information.
Not only must they properly categorize data as it’s created, they must manage data over its whole lifecycle. They need to secure it, deduplicate it, and delete it at the proper time. Failure to do so risks wasted resources, failed audits or even regulatory fines.
Unfortunately, many organizations — even large ones — rely on manual processes for information lifecycle management (ILM). This can be both slow and inaccurate.
Organizations need to automatically apply data policies to content so they can properly classify its provenance. Taking manual processes out of the mix will not only save time, but it will also improve accuracy. Diligent database administrators and others can be confident that the information they are presenting to auditors, lawyers or even their own bosses is as accurate as possible.
Automated information lifecycle management can help your organization in three key ways:
- Uniformity: Manual ILM relies on the subjective judgement of database administrators and others. With automation, you can set a policy that the solution applies uniformly across all relevant data.
- Risk Management: If you stare at a computer long enough, eventually everyone’s eyes glaze over. Automating ILM processes mitigates the risk that a data administrator will miss something, reducing the likelihood of a content-related breach.
- Cost Control: Automated ILM streamline the processes and costs associated with complete data governance. You can more easily predict what your costs will be and where they will come from.
Proper information lifecycle management can improve your company’s ability to govern data effectively. It can free up staff time to work on more strategic projects. And it can save time and headaches in the event of a discovery demand or regulatory request.
To learn more about how information lifecycle management can address your company’s needs, take a look at our new white paper, “Key Considerations and Capabilities for an Information Lifecycle Management Solution.”