Data: An Asset and a Liability
Conclusion: Organisations must proactively manage exactly which data is kept, secured, and backed up, as well as which data must be archived or permanently deleted. Data hoarding adds considerably to storage costs as well as potentially exposing organisations to risks especially if the data is inappropriate, unencrypted, or could put an organisation’s brand at risk.
Organisations need to have clear policies on exactly what sort of data is to be kept, especially when there are legal, regulatory or other specific reasons for keeping the data. Additionally, organisations need to be clear on what should not be kept.
Organisations cannot leave the management of this issue at simply expecting compliance to a policy. Business stakeholders must be closely involved in defining the business imperative for tracking data relevance and the value of data. Data specialists equipped with the appropriate tools will be required to specifically find data and manage it based on defined policies.