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Discussion Point: Does Anyone Care About Information Governance?

By David Roe | Feb 29, 2016

For the full article, visit http://www.cmswire.com/information-management/discussion-point-does-anyone-care-about-information-governance/

With more and more data in use by businesses, their customers and clients, it’s increasingly difficult to track, monitor and protect it.

It seems clear from the number of data breaches in the past year alone that information governance is either not the priority or being addressed haphazardly.

Why should this be happening? 

With data the lifeblood of businesses today, why are data breaches happening at all?

By definition, information governance is a consistent framework, applied across the enterprise that determines how employees will handle data. It is built around enterprise-wide strategic and business goals.

In principle, it covers data security, privacy, compliance requirements and enables e-discovery, among other things. But do businesses care? We decided to find out what industry thought leaders had to say.

The Question

Do businesses care about information governance?

The Answers

Ramon Chen, CMO, Reltio

Ramon Chen, CMO, Reltio

Reltio CMO, Ramon Chen says:

Information governance has long been a topic that a compliance professional could love. But what appears boring is actually one of the critical issues of the new information economy. 

Poor regulatory and compliance reporting and enforcement leads to billions in fines every year across all industries. Beyond fines, companies face further losses in the form of a hit to their brand, when such issues surface into the public domain.

With the age of big data receiving notoriety, information governance is once again in the spotlight. Going hand in glove with it is master data management, the discipline of create a single 360 view of a customer or product, across multiple silos.

In today’s environment with data circulating across the enterprise to help each group such as sales and marketing, do their jobs better and faster with relevant insights, governance of that data becomes an even more complex task. 

The compliance professional has always been short changed when it comes to technologies that help them actually enforce compliance. Traditional tools offer retroactive reporting to highlight violations, but correcting issues at the source, auditing and alerting compliance teams prior to violations, tracking who has received the right training, has always been missing.