Shedding Light on Dark Data: How Companies Can Build Effective Data Governance

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For many companies, budgeting season has officially arrived. And if next year is anything like previous years, companies will spend up to 7.5% of their total IT spend on data governance, or managing data availability and security in their enterprise systems. . For large organizations, data governance can quickly become a $20 million line item.

But in a recent study, two-thirds of enterprise IT managers said managing structured data was their top priority, while unstructured data was less of a concern. That means a surprising number are likely leaving sensitive information unprotected.

Unstructured data, which exists in various forms in virtually every corner of an organization, is filled with hidden operational risks for businesses. Losing track of it means leaving the door open to bad actors and leaving a company unprepared for financial audits or other scrutiny.

At a time when cybercrime is at an all-time high, leaving unstructured data management on the back burner is no longer a wise option. Businesses need a data governance strategy that encompasses all of their information, regardless of format.

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Fortunately, any business can take specific steps to manage all of the data it generates instead of narrowly focusing on a single set.

The first step to managing data is to understand it. This includes everything from survey results and maintenance reports to unused USB drives and handwritten notes.

The vast majority of data (80% to 90%) is unstructured information, such as videos, audio, social media posts, and scanned documents. Unfortunately, too many data programs allow this to exist as a blind spot. And without the tools to analyze this massive and growing category of data, companies are leaving vast amounts of valuable data on the table and leaving potential risks unaddressed.

Real data governance means understanding where all that data is, how it's stored, and who in the organization can access it. The first step to effective governance is to conduct a thorough digital inventory of all data. This should incorporate automation for scale, efficiency, and precision, and be viewed through a specific vertical lens so you don't miss a thing.

Once your organization has a thorough accounting of data of all kinds, it's time to begin the risk reduction process.

In my company's work with companies in various industries, we have discovered that an inventory of all data...