News: Power struggles over who controls the data and how it should be used is resulting in a failure to achieve value.
Internal power struggles are significantly limiting the value that organisations are achieving from their data archives.
Significant differences are being seen between how Legal, Compliance, IT and Lines of Business manage, leverage and value data archives, which is contributing to a failure to capture over $10 million in potential revenue.
For IT and Lines of Business many (70%) view data archives as a potential revenue driver, which leads to them being strong advocates of unfettered access to archives. The idea is that with greater access to information, the greater the potential for success.
Comparatively, Legal and Compliance prioritise security and risk mitigation over ease and speed of access. Only 38% believed that data archives can enhance revenue.
The way that Legal and Compliance leverage data archive is to maintain regulatory and eDiscovery compliance and to respond to audit and legal case requests.
This division of opinion isn’t aided by an additional split of opinion on who has primary responsibility for managing the data archives.
Legal and Compliance view themselves mainly responsible for determining what to archive (45%) and ensuring data archives are secured (39%). Whilst IT and LoB don’t believe that these groups are key players in those decisions.
There are several problems stemming from these issues, such as a difference of opinion of receiving archived data in the right formats.
The findings come from a whitepaper from Iron Mountain and IDC, called: "Mining for Insight: Re-Discovering the Data Archive."