August 12, 2020

Volume X, Number 225

August 12, 2020

Subscribe to Latest Legal News and Analysis

August 11, 2020

Subscribe to Latest Legal News and Analysis

August 10, 2020

Subscribe to Latest Legal News and Analysis

Information Governance Gains Traction, Maturity, and Value Proposition: State of IG Report

The Information Governance Initiative (IGI) recently released its third annual “State of Information Governance” report . Highlights include a sharp rise in IG projects underway and a shift toward organizations deriving value out of properly stored data. Indeed, nearly twice as many respondents (176percent of prior-year baseline) indicated that they are extracting business value from their information.

While external factors to include data breaches and data privacy regulations largely drive IG projects, there is mounting internal pressure to reduce storage costs, limit exposure to potential data breaches, and consolidate data. IGI found that respondents overwhelmingly agreed that information governance is an essential component of internal and external cybersecurity.

Below are key takeaways from the report, including respondent results and IGI’s analysis and recommendations.

Defining Information Governance

The definition of IG has stabilized, and can be captured as “the activities and technologies that people employ to maximize the value of their information while minimizing the associated risk.”

What Drives IG Progress?

The top 4 motivators were similar across practitioners and providers:

  • Address external regulatory, compliance, and other legal obligations to include the impending European General Data Protection Regulation (GDPR)
  • Mitigate risk
  • Reduce storage costs
  • Respond to external triggers (lawsuits, investigations, data breaches and more)

Barriers to Awareness and Efficacy

Corporate Information Governance Officers (CIGO) are sorely needed in order to coordinate authoritatively within an organization.

IG in Practice:

Respondents undertaking IG projects rose dramatically, with 71 percent managing active IG projects and only 2 percent reporting that they have never initiated an IG project. “Defensible deletion” of data is on the rise.

  • 11 percent more organizations reported charging a single individual with IG management responsibilities.
  • Professionals with “Information governance” in their title leapt upward, with a 41 percent increase over the prior year.
  • More organizations are extracting business value from data (46 percent of respondents).
  • IG projects seem to evolve from foundational efforts around policy updates and digitization to data consolidation, clean-up, and defensible deletion.

The report reflects general growth and increased maturity of the IG discipline as more organizations create IG leadership, undertake IG projects, and evolve toward sophisticated IG management. More effort is needed, particularly in educating internal stakeholders regarding the value of IG. As respondents are increasingly aware, advanced IG practices contribute to the organization’s security – and to its bottom line.

© 2020 Faegre Drinker Biddle & Reath LLP. All Rights Reserved.National Law Review, Volume VIII, Number 86

TRENDING LEGAL ANALYSIS


About this Author

Sarah Pheasant, Education and Compliance Lawyer, Drinker Biddle
Associate

Sarah L. Pheasant advises clients on various aspects of education law and regulatory compliance, including issues pertaining to the Higher Education Act, Title IV federal student aid programs, state educational licensing laws and the accreditation of postsecondary institutions. She has helped to advise non-profit and for-profit educational institutions and private investors on complex transactions, including changes of ownership involving institutions of higher education.

Before joining Drinker Biddle, Sarah handled a diverse range of litigation,...

(202) 230-5675
Tracy Drynan, Drinker Biddle, E-discovery and litigation attorney
Senior Attorney

Tracy D. Drynan has extensive experience across the E-Discovery lifecycle including, interpreting Requests for Information and Complaints to identify sources of relevant information, developing strategies for targeting and gathering data, performing custodial interviews, and managing the collection of information.

Tracy’s experience also includes developing strategies for analyzing relevant data, conducting in depth investigations into the data prior to production, and producing data after vetting and processing the data for protected privilege and PII. Additionally, she has developed tools that were critical to and used throughout the matter lifecycle.

(202) 230-5171