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Improving the Economics of Information

Establish an information lifestyle governance framework for effective big data analytics

Executive Architect, IBM
Information governance is a wide-ranging field with many different facets. Unfortunately, it also comes with many different definitions and emphases for each facet according to the way different organizations understand and approach them. The IBM information lifecycle governance (ILG) conceptual architecture offers a framework for managing information throughout its lifecycle. That lifecycle comprises the point at which the data is created, captured, or ingested until it reaches the end of its life, where the data is disposed of in a manner that is defensible in a court of law.

ILG is the discipline of managing information according to legal obligations and the data’s business value, which enables defensible disposal of data and helps reduce the cost of legal compliance. (For more information about ILG, see the sidebar, “Insight 2014 Sneak Preview: Information Lifecycle Governance Essentials.”)

 

 

Information Lifecycle Governance Essentials - sidebar  

Sneak Preview

Information Lifecycle Governance Essentials

Attendees of Insight 2014, October 26–30, 2014, at Mandalay Bay in Las Vegas, Nevada, have an opportunity to participate in the session, “The Essential Role of Information Lifecycle Governance in the Era of Big Data” (ELG-4272B and ELG-4272C). This session covers the potential conflicts between providing analytical insights with large-scale data analytics versus reducing corporate risk and streamlining operations by disposing of the data as soon as it is allowed. In addition, it focuses on the importance of establishing an information lifecycle governance (ILG) program to effectively use the power of analytics with integrated information in a big data system.

Good information governance requires specificity and transparency of legal and regulatory obligations and business value of information. It relates to the people tasked with actually managing the information, and it establishes measurement, policy, and control mechanisms to enable people to carry out their roles and responsibilities.
 

The complexity of today’s environments

Information lifecycle governance can be challenging because of changes and overlaps in regulations, especially when an organization operates internationally and must comply with regulations in each of the countries in which it does business. Today’s global marketplace exists in a very competitive and complex arena for businesses to navigate, and lack of compliance is frequently more than a financial threat. Companies must often recover from the bad publicity that can result when they don’t comply with regulations.

Traditional methods and silo approaches to discovery, records management, and data management are inadequate for the high volume of data in the current business environment, particularly given its wide distribution across people and systems. New and more mature processes are required to achieve information governance, so that reliable compliance can be routinely and confidently applied to information.

The need for advanced, mature approaches is especially true when it comes to information and data privacy, where the US concept of privacy differs from that of the European Union (EU) and most of the rest of the world. The US concept of privacy is derived from the constitutional right of liberty and the freedom to live without governmental constraint. The EU concept of privacy is based on sensibilities of dignity and the right to associate freely within society.
 

Obligations for electronic data storage

In addition to regulatory compliance, e-discovery has become an increasingly important part of business operations. In the US, the revised Federal Rules of Civil Procedure from 2006 detailed that firms are required to know what electronic data is stored, where it is, and to demonstrate compliance with any organizationally created policies in the area. An obligation was also put in place that requires electronically stored information (ESI) for a case to be delivered within 120 days of the complaint being served—making time an important factor.

Across all business sectors, organizations are faced with a rising tide of disputes, investigations, and regulatory reviews. For many, particularly those in the most heavily regulated sectors, these reviews are now a routine occupational hazard. Handling the ESI relevant to such reviews in a consistent, defensible, and cost-effective manner has therefore become a key business challenge, and the complexity of that challenge is increasing. IBM ILG strategies help improve the economics of information by enhancing the alignment of its cost and value.

Please share any thoughts or questions in the comments.