Many organisations today have content stored in business applications and system databases, which can contain confidential information that pertains to future strategy, forecast figures and partnership plans, or sensitive data such as personally identifiable information, personal credit or personal health information.
However, many struggle with effective information governance, and understandably so as data is growing and increasing exponentially.
In fact, at the end of last year, the IDC has released a report on the ever-growing datasphere, where they have predicted that the collective sum of the world’s data will grow from 33 zettabytes to a staggering 175ZB by 2025, for a compounded annual growth rate of 61 percent.
That’s 175 trillion gigabytes. To further put it into perspective, as Network World puts it – if you could download 175ZB on today’s largest hard drive, it would take 12.5 billion drives.
However, governing that data forms a crucial part of every business, as it provides a framework to ensure that personal information is dealt with legally, securely, efficiently and effectively, in order to deliver the best possible care.
It means having a full view of how much data there is, what it contains, who it is accessed by, where it is stored, how long it should be kept, how it is deleted when it’s no longer needed or relevant, and how the data is protected from data breaches and other security threats.
Compliance to stringent regulations
This is important, as compliance regulations are coming down on businesses like never before as a result of stringent POPI and GDPR regulations.
This means that organisations are under the legal obligation to protect the information they hold, and to use it judiciously.
To comply with these standards, organisations must manage their data correctly, and to manage it correctly, they must fully understand the data that is in their possession, whether on premise or in the cloud. This is according to Graham Highgate, Business Development specialist for Altonet.
If companies do not manage their data correctly, they will likely not comply with these standards, and subsequently face significant consequences.
The consequences of non-compliance don’t only stretch to fines, but could also cause the company reputational damage.
The benefits of information governance
According to Highgate, on average, 50% of companies that have an information governance strategy don’t know which data is redundant, obsolete, and trivial.
For this reason, an information governance solution is a must-purchase, as it helps you balance the requirements for collaboration and productivity with information security, privacy and compliance across enterprise systems at a lower total cost.
It also helps you lower data security and privacy risks with data identification, masking, access controls, redaction and defensible disposal, and reduces the cost of managing applications, data, and complexity of securely managing unstructured content with automation and integration.
Data management for compliance, mitigating risk, improving efficiency, and cost control is not negotiable. You need a strategically designed data governance solution, endorsed at the executive level, and supported with training and effectiveness audits.
Information governance through Micro Focus and Altonet
“With data volumes growing exponentially and increasing demands being placed on how to access and leverage this data, information governance is experiencing a rebirth,” said Gareth de Laporte, Channel Executive for Micro Focus.
Micro Focus and Altonet assists organisations on their information governance journey by providing the tools and infrastructure organisations need to secure their data for effective information governance.
These tools enable users to take control of their data to lower risk and cost, comply with regulations, enhance productivity and gain more value from their information.
Their information governance solutions can also unify data silos and work with existing data architecture to help organisations manage and act upon this data.
This article was published in partnership with Micro Focus.