Information Governance Basics helps you to understand the benefits, and the costs, when you implement an Information Governance strategy. It helps you to identify where Information Governance matters most to your business.
What is Information Governance?
Gartner describes it as ‘the effective and efficient use of information in enabling an organisation to achieve its goals’. Perhaps it’s simpler to think of Information Governance as knowing what information you have, where it is and what you need to do with it. In other words, the ability to control the acquisition, management, retention and disposal of all information – both structured and unstructured – within your business.
Did You Know?
It is estimated that 92% of the world’s data was created in the past 2 years. It is forecast to grow tenfold from 4.4ZB (ZettaBytes) in 2013 to 44ZB by 2020.
20% of CIOs in regulated industries are forecast to lose their jobs in the next few years through failures in Information Governance.
An FTI survey discovered that just 20% of organisations have less than 100 litigation events in a year while 10% reported upwards of 2000 litigation events each year.
While regulatory compliance or litigation activities are often the spur for initiating Information Governance programmes, there is a wide range of benefits that any company can gain from if they implement an Information Governance programme.
The need to comply with governmental, financial and industry regulations, as well as respond to an increasing number of litigation events is driving companies to embrace Information Governance.
Creating a Framework
Information Governance describes the holistic approach to managing information and transforming it into a business asset. The purpose of creating a framework is to formally establish your approach to InfoGov.