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Data as an Asset

Editorial Type: Opinion     Date: 01-2016    Views: 1462   





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
A CDO can help to oversee the development and implementation of programmes that will derive value from the data archive, while working closely with the Chief Operating, Chief Technology and Chief Information Officers to set long-term business and data strategies. The CDO would not only make sure that the enterprise's general counsel and legal teams are appropriately involved and represented, but ensure that all sides are brought to the table, educating everyone on the unique needs and pain points of each group with a mandate to establish common ground.

CREATE A CROSS-FUNCTIONAL ARCHIVING COMMITTEE
Spearheaded by the CDO and including representatives from IT, LOB, Legal and Compliance, an archiving committee would certainly help to foster collaboration towards implementing effective and efficient data archive management processes that address key concerns around access, protection and business needs.

DEPLOY SECURE DATA ARCHIVE TECHNOLOGY
Depending on what is already in place, the committee should explore implementing or updating the enterprise's data archiving technology with secure, cost-effective solutions such as tape, restoration assurance and secure cloud storage in order to effectively meet the demands of IT, LOB and Legal and Compliance teams. IT can then strive to make data as secure as possible from the beginning to avoid conflict and then proactively address concerns throughout implementation.

CONSIDER PARTNERING WITH A THIRD PARTY VENDOR
Vendors with specific expertise and technology offerings can help relieve the data archiving burden and provide great value to the CDO and the Archiving Committee. The right vendor will be able to deliver a solution that provides Legal and Compliance with the repeatable and defensible access that they need to mitigate risk, while also freeing up internal IT resources to focus on more strategic and innovative work. NC

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