Assessing the Maturity of Your Information Governance (Or, Chaos is Expensive)
Information governance has a huge impact on businesses — the absence of good information governance practice is told in fines, lawsuits and missed opportunities for efficiency and profit. Today’s business environments and “big bucket” retention systems have created a false sense of confidence and the mistaken impression that the establishment of company-wide information governance inventories is too “old school” in this age of databases and hosted applications. Yet, the process of memorializing the information inventory is more important than ever.
Up-to-date tools for storing and sharing information are only part of the equation — what remains is to systematically assess where all the information is, how it is managed, and by whom. This creates the need for assessment tools such as the Information Governance Inventory Maturity Model. The ad hoc approach is simply too costly.
The foundation for effective information governance, which provides for the appropriate management of information, is the identification of all information assets: documents, records, content, data, etc. This inventory provides the framework for implementing information governance. The inventory process has many levels, from human resources to technology systems to management processes. RulesMapper developed an inventory maturity model that helps companies assess their maturity in six areas, and details how criteria are defined for each level — from chaotic to completely optimized. We’ll take a look at Level 1 (“Chaotic”) in our next post.