As digital transformation gains momentum, organizations face a growing avalanche of information, one that they struggle to control.
At most organizations, the office is no longer the information capital. Even data that still resides on-premises is accessed and shared via laptops, tablets, and cell phones. Seventy percent of people now work remotely at least once a week.
Deloitte predicts that in the next 5 to 10 years, completely mobile employees will represent a majority. Businesses that want to attract top talent and increase productivity need to accommodate today’s employees who expect to work from anywhere, anytime using cloud-based services and sharing tools. The data they produce travels at warp speed to groups, individuals, and outsiders who use it in their own different ways.
Data Governance And Security
It’s critical for organizations to create and enforce a strong governance policy for all their data and control who can send what to whom, no matter what kind of device they’re using.
An inadvertent click by an employee, a decision to store company information “for convenience” in a public space like Box or Dropbox, or a single unauthorized data transfer to a partner or contractor can result in a costly and embarrassing data breach.
In addition to improving security, comprehensive data governance makes compliance easier, a welcome advantage in a time of burgeoning regulations.
Regulators who once focused on documents and emails are increasingly demanding other forms of unstructured data, including voice recordings of interactions with customers, social media messages, and instant messaging between employees, just to name a few. Unless this information carries tags, it can be extremely difficult and time-consuming to track down, and organizations will be unable to meet auditors’ deadlines or assure them that the records they find are complete.
One of the most exciting aspects of data governance is the business advantages it makes possible.
“Data governance has far more capabilities besides improving security and compliance. It can create a significant amount of business value,” said James Tyo, vice president and chief data officer at Nationwide.
Mining that value starts with metadata. Today’s data resides in various silos throughout the enterprise. Finance, sales, and marketing may download the same report, but they use and label it differently. Tagging data according to the needs of each business unit that uses it allows everyone to easily find and analyze it.
Data governance lets you do all of these things. It lets you bring your data under control, assess its quality, secure it and make it available to those who need it. It gives both you and the organizations that regulate you the confidence that your information is complete, up-to-date, compliant and secure. With the right technology, data governance not only improves security and compliance, it can also lead to insights that can create enormous business value. When you identify and organize your data and put it to work, every business unit and employee benefits.