Skip to content

Discerning Data

  • About Us
  • Additional Resources
  • Contact Us

DISCERNING DATA

A Faegre Drinker Blog Covering the Latest in Privacy, Cybersecurity and Data Strategy

  • Privacy
  • Cybersecurity
  • Data Strategy
  • Disruptionware

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

Share

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.

Drinker Biddle is among the founders of the IGI, which is a think tank and community dedicated to advancing the adoption of Information Governance (IG) practices and technologies through research, events, advocacy and peer-to-peer networking.

Subscribe and Receive Alerts to New Articles

SUBSCRIBE
March 27, 2018
Written by: Sarah Pheasant
Category: Data Strategy, GDPR
Tags: ig, igi, International

Post navigation

Previous Previous post: FTC Requests the Shut Down of a Deceptive Cryptocurrency “Ponzi” Scheme
Next Next post: New York Attorney General Penalizes Health Plan for Widespread Disclosure of Social Security Numbers

Search the Blog

Sign Up for Email Alerts

PODCASTS

Faegre Drinker on Law and Technology

©2022 Faegre Drinker Biddle & Reath LLP. All Rights Reserved. Lawyer Advertising.

  • About Us
  • Additional Resources
  • Contact Us
We use cookies to improve your experience with our website. By browsing our site, you are agreeing to the use of cookies. For more information about how we use cookies, please review our privacy policy and cookie policy. OK
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT