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Information Governance: A Widely-Ignored, But Why?
Gartner defines Information Governance as “the effective and efficient use of information in enabling an organization to achieve its goals”. It has the sort of apple-pie goodness about the sound of it that it seems that all companies should value information governance highly. When asked by the Economist though, only 38% of companies have any plans around information governance and less than half of companies thought that Information Governance was important to them.
It’s hard to understand the disconnect or at least the lack of excitement around the benefits of effectively managing your information, especially when you consider the possible consequences of not having a solid foundation for Information Governance. Of those companies without Information Governance, only 51 percent rate their company’s ability to protect sensitive data as good or very good, compared to 85 percent of companies with Information Governance policies in place. And of those companies with IG policies, 93 percent are satisfied with their ability to access their business critical information in a timely way, compared to 57 percent of companies without governance strategies.
Among the other benefits that Information Governance brings, 72 percent say that a company-wide information governance strategy promotes better information sharing between departments and 53% say that it leads to better decision-making.
The Economist report concludes that ” The future of information governance will hinge on continually evaluating policies and adapting them as business priorities and market conditions evolve. Just as an effective corporate governance strategy can yield competitive advantages, effective information governance can turn information into a more consistent generator of business value.”
