Discussion
ITS 833 – INFORMATION GOVERNANCE
Chapter 1 – The Onslaught of Big Data and Information Governance Imperative
Dr. Omar Mohamed
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CHAPTER GOALS AND OBJECTIVES
Define or identify what is meant by “Big Data”
What is the practical effects and problems associated with Big Data
Solution to the Big Data problem
Defining Information Governance (“IG”)
Why we do not incorporate IG into everyday business
Advantage of IG
Effects of not incorporating IG
General approach to implementing IG
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What is “Big Data”?
It is a business asset capable of being leveraged.
“High-volume, high-velocity and high-variety information that demands cost-effective innovative forms of information processing for enhanced insight and decision making”
A combination of both structured and unstructured data that is so massive that it cannot be processed using today’s database tools and analytical software techniques.
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What is the practical effect of “Big Data”?
Whether or not a business enterprise will be able to sustain a competitive advantage will depend on the business’ ability to manipulate the large amount of data in a way that it to differentiate itself.
Estimates are that 90% of the data existing today was created over the pat two years.
Big Data and related technology and services are projected to grow at a compound annual rate of approximately 27% - leading to new opportunities for data mining and business intelligence.
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Issues Related to Big Data
Expense –Only about 25% of data stored has real business value, 5% more is required to be maintained for legal reasons, 1% retained due to litigation hold, leaving about 69% with no real value.
A great deal of irrelevant information
Increased storage costs
System failures
Legal costs
Conversion costs
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SOLUTION TO BIG DATA PROBLEMS?
Information Governance
Rigid
Enforced
Creates a smaller “information footprint”
Allows business to more easily find what they need and derive business value from it
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So…What is “Information Governance”?
It is discipline that emerged out of necessity…
Subset of corporate governance
Merged from records management, content management, information technology, data governance, information security, data privacy, risk management, litigation readiness, regulatory compliance, data preservation and business intelligence
It is the way by which an organization manages the totality of its information
A strategic framework composed of standards, processes, roles, and metrics that hold organizations and individuals accountable to create, organize, secure, maintain, use and dispose of information in ways that align with and contribute to the organizations goals. (Association of Records Management and Administrators)Glossary of Records and Information Management Terms, 4th Ed., 2012, TR 22-2012)
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WHY INCORPORATE “IG”?
We can’t keep everything forever
We can’t throw everything away
E-discovery
Employees want it
It improves information delivery and improves productivity
It does not get easier to do over time
Legal requirements
Helps mitigate information management risk
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WHY DON’T WE INCORPORATE “IG”?
Cost
Lack of understanding
Lack of support from top
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FAILURES OF INFORMATION GOVERNANCE?
Theft of valuable information
Inability to protect personal, private information
Breaches in legal requirements
Loss of trade secrets
Public reputation damage
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Approaches to Implementing IG
Form proper IG policies first
Review existing policy…if any
Implement an awareness policy
Develop an approach
Project approach vs. Strategic program
Identify governance body or steering committee
Apply appropriate technologies for enforcement
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Thank You
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