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.
About The Advisor
Peter Hall was an IBRS advisor between 2016 and 2020 who covered enterprise infrastructure, management, managing vendor and customer relationships, vendor capabilities and vendor offerings. Peter is also experienced in Start-Up’s and Mergers and Acquisitions. Peter has over 37 years of experience working in the IT sector in ANZ and Asia Pacific, gaining invaluable insights into vendor offerings and strategies, relationship management, and channel strategies. Peter’s an experienced executive having worked for Hewlett-Packard, Blade Network Technologies (acquired by IBM in 2010), IBM and Lenovo. Peter is also an accredited Tony Buzan Licensed Instructor in Mind Mapping.