High Performers Continuously Evaluate the Worth and Risk of Their Information, Automate and Integrate Workflows to Manage Data End-to-End, and Monitor Their Data to Spot Outlier Activity
Reading, UK – May 18, 2016 – Veritas Technologies, the leader in information management, today released new research findings that illuminate the most effective information governance practices that empower organisations to extract as much value as possible out of their information while reducing related risks and costs. The study found that 94% of organisations have a formal information governance program currently in place or are in the planning stages. However, only 40% of organisations are high performers when it comes to information governance.
In partnership with research firm Ipsos, Veritas surveyed a global cross section of IT, security, and legal professionals from 481 organisations to define what tools and tactics are currently in use and how successfully those practices deliver information governance returns. This latest study by Veritas follows the Global Databerg Report and the Data Genomics Index, which revealed the worsening situation organisations face regarding the information explosion. Findings from these efforts highlight that 85% of all information stored and processed by organisations is considered ‘dark’ data or ROT (Redundant, Obsolete, Trivial), and that 41% of all stored data is stale (i.e., hasn’t been touched in three years).
“As organisations have embraced a ‘store-everything’ mentality, and low-value data has cluttered up terabytes – if not petabytes – of storage, they have found it increasingly difficult to find information when they need it and to effectively protect their sensitive information,” remarked Ben Gibson, Veritas Chief Marketing Officer. “For these reasons, and in the face of a rapidly changing and incredibly complex regulatory environment, managing risk is the number-one reason why organisations are investing in information governance programs.”
Most Adopted Tools & Tactics Have “Store-Everything” Heritage
The study reveals that once organisations decide to invest in information governance, they have a wide variety of different approaches at their disposal. Out of 18 surveyed tools (ranging from archiving to eDiscovery, file analysis, and more) and 14 tactics (including policy creation, chargebacks, and training), all received above a 60% adoption rate.
Of all these tools and tactics, several consistently demonstrated high levels of adoption across all organisations. In terms of tools, 87% of surveyed participants adopted file archiving and 86% adopted email archiving, technologies originally developed to help organisations optimise storage for growing data volumes. From a tactics standpoint, 88% of the organisations issue formal data-use policies, and 84% train employees on information governance practices, yet both of these tactics require end-user compliance and effort instead of automation, making adherence more challenging in a world where data is growing 39% year-over-year.
Considering the widespread adoption of information governance tools and tactics, the survey population was divided into two segments based on the overall effectiveness of each organisation’s Information Governance program and evaluated further. Interestingly, the analysis revealed considerable differences between the tools and tactics adopted by Low Performers (~60% of the population) and High Performers (~40% of the population).
High Performers Know the Value of Their Data
High Performers demonstrate a keen focus on understanding the types of data they store and the relative importance of that data. The study shows that 72% of high performers conduct file-type assessments to prevent the build-up of non-mission critical files, whereas only 29% of Low Performers use this technique. Similarly, 66% of High Performers measure what percentage of their data is ROT (Redundant, Obsolete, and Trivial), while only 23% of Low Performers measure their ROT. Additionally, 62% of High Performers assign risk scores to the data they store, but only 29% of Low Performers follow this practice.
High Performers Control Data Growth Better
Considering the types of tools and tactics that are more highly adopted by High Performers, it came as no surprise that these organisations were 39% better at deleting no-value data and 38% better at determining the value of an individual piece of data than Low Performers. Overall, High Performers are 36% better than Low Performers at controlling data growth.
Both High Performers and Low Performers identified risk mitigation as the number one priority for investing in an Information Governance program. That said, High Performers are 22% better at mitigating risk than Low Performers and are significantly better at protecting their organisation from potential productivity and financial losses directly attributable to information growth.
Ultimately, it appears that the more visibility organisations have into the value of their data, the more proactive they can be when it comes to remediation, and the more effective they are at stemming risk that is introduced by the information explosion.
“Information governance is a fast-growing priority for most organisations around the globe,” commented Sean Pike, program director, Next-Generation Data Security and eDiscovery & Information Governance, IDC. “The information explosion has created an untenable risk environment. Veritas is assisting organisations around the world in defining best practices for cleaning up their data footprint. By developing a data valuation framework, establishing and enforcing data policies, and ensuring that the broader organisation is aligned to mitigate information risk, any organisation can replicate the tactics that have made the high-performing organisations in this new Veritas study so effective.”
To learn more about these findings, please review the full report here.
Veritas Information Governance Solutions
Veritas offers an integrated portfolio of solutions that provide real-time insights into an organisation’s information footprint and empower leaders to make decisions about what to protect and what to delete. The portfolio includes Veritas™ Information Map, Veritas™ Data Insight, Veritas Enterprise Vault™, Veritas Enterprise Vault.cloud, and Veritas™ eDiscovery Platform.
About Veritas Technologies
Veritas Technologies enables organisations to harness the power of their information, with information management solutions serving the world’s largest and most complex environments. Veritas works with organisations of all sizes, including 86 percent of global Fortune 500 companies, improving data availability and revealing insights to drive competitive advantage. www.veritas.com
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