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Current Filter: Network>>>>>Opinion> Data as an Asset Editorial Type: Opinion Date: 01-2016 Views: 1462 Key Topics: Networking Data Analytics Data Usage Key Companies: Iron Mountain UK AlienVault Open Threat Exchange Key Products: Key Industries: | |||
| Andrew Weedon, a director at Iron Mountain UK explains that your data archive may benefit from new consideration and a different approach In the past, the main drivers used by businesses considering the archival of their data tended to focus on legal and compliance initiatives as well as business continuity, record retention, audits and disaster recovery. However, as more organisations are looking to exploit their information for insight and competitive advantage, data archiving has assumed a new and interesting role. With this in mind, there are some major organisational disconnects which need to be addressed. According to a recent IDC survey (Mining for Insight: Rediscovering the Data Archive, June 2015) the underlying reason for this data archiving disconnect seems to stem from some fundamental differences in the roles and objectives of internal departments, especially Legal and IT. It found that 70 per cent of IT respondents see data archives as vital to enhancing revenue, with only 38 per cent of legal and compliance colleagues in agreement. While legal and compliance departments focus on risk mitigation and limiting access to information in the archives, IT departments continue to evolve into a more service-like organisation, supporting lines of business (LOB) with their information needs. These apparently contradicting objectives drive a perception wedge between the two groups and create a further disconnect. This disconnect is a real problem for organisations. Business and IT businesses mustn't focus exclusively on their own needs whilst ignoring those of their other colleagues, especially the legal department. To succeed, organisations need to put tools, procedures and governance in place that can and will satisfy the legitimate needs of both teams. With more than a third of companies reporting $1 million or more in additional revenue during the past year from monetising their archives, and no slowdown in the rapid growth of enterprise data in sight, it has never been more critical that IT and Legal professionals find a way to balance their objectives. Here are a few things businesses can consider to meet the challenge.
APPOINT A CHIEF DATA OFFICER
CREATE A CROSS-FUNCTIONAL ARCHIVING COMMITTEE
DEPLOY SECURE DATA ARCHIVE TECHNOLOGY
CONSIDER PARTNERING WITH A THIRD PARTY VENDOR | ||
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