Data Control: Myth or Reality
As unstructured content grows at a staggering rate, your organization’s knowledge and decision-making logic is being hampered by data that hasn’t been properly used to help make those decisions.
Large organizations struggle to govern and manage large and growing volumes of unstructured content. Failure to govern data effectively leads to:
- Fines and fees from regulators
- Costly overproduction to outside counsel
- Under-compliant response to regulatory requests
- Ineffective records management
- Increased risk
- Wasted investments in protection.
Regulations Are Increasing
Regulators around the world are increasingly scrutinizing how organizations handle personal and financial data. Financial regulations around money laundering, fraud, financial crimes, and business conduct continue to grow. Jurisdictions including the European Union, Australia, California, and several other U.S. states have recently strengthened their privacy laws. These regulatory demands represent high-profile risk for organizations, especially when failures occur.
In raw form, your data is distributed across every part of your organization. The only way to create knowledge from this data is to manage your information assets so you can meet the needs of ever-growing privacy regulations and extract value for decision-making.
The ‘Data Is Water’ Metaphor
Think of your organization’s data, especially the person-generated unstructured data, as water that needs to feed the organization’s knowledge and decision-making processes. Just because water’s available doesn’t meant that it’s intrinsically useful. To extend the metaphor even more, even after a rainstorm in the desert there’s still scarce water to drink because it gets absorbed immediately into the sand.
Currently, you have the following enterprise data to control:
- Data at rest. Most organizations have lakes of data all over their organization. A few have combined these lakes into one physical or virtual lake of data that’s accumulated over the years.
- Data in motion. The rain of data that continually falls across your organization is unstructured and increases organizational risk; the rain needs to find rivers to feed the lake.
With multiple external mandates on managing and controlling data, you need a better way to inventory, understand, classify, and act upon your content. Your data management activities must cover all sources of enterprise information by indexing this data into knowledge sources, i.e., one big indexed data lake (virtual or physical) that is fed by rivers that continuously gather the ‘rain,’ organize it, and flow the data into the lake.
Take Back Control
Your organization needs to take back control of its data by indexing what it has and uncovering relevant key information that uncovers compliance risks, improves investigations, and increases knowledge and decision-making. In short, you need to turn data into knowledge with an indexed data lake, knowledge that you can use to take back control and turn into a true business advantage.
Contact us to find out how Nuix software can support building a functioning, useful indexed data lake.