Businesses are now "hoarding" their data instead of recognizing how inconvenient the saved files will be in case of litigation.
By Paul Newman
Nov 12 2012, 21:32 PM
The push to use more data immediately may have some positive effects for companies. According to Forbes contributor Barry Murphy, however, firms may be inadvertently causing themselves extreme governance problems. He stated that businesses are now "hoarding" their data instead of recognizing how inconvenient the saved files will be in case of litigation.
Governance consists of many processes designed to keep data in good order and compliant with industry standards. Incorporating considerations like data quality, Murphy indicated that it is still important in a world defined by volume of information, even though many decision-makers may now ignore it.
Murphy stated that companies need to find a way to determine what they do not need and get rid of it, using intelligent processes to clear out their archives. Just because certain figures could someday be useful for analytics does not mean it is worthwhile to keep them around.
InformationWeek contributor Rajan Chandras gave an overview of the present state of governance. He noted that the many different facets of the programs likely call for a variety of software tools used together rather than one monolithic effort. He also specified that the crowded market for solutions could cause buyer confusion.