- Artificial Intelligence Is Back In Vogue
- Big Data For Governance or Competitive Intelligence
- Companies Focus on Business Driven Applications to Avoid Data Lakes From Becoming Swamps
- Data Agility Separates Winners from Losers
- Blockchain Transforms Select Financial Service Applications
- Machine Learning Maximizes Microservices Impact
An audit of your system will help you and your users to better understand if your EDM system is working as planned or if it needs some work. EDM systems are “live” systems that should evolve and change over the years as users find new ways to work with it and vendors add new functionality to an existing system. Document management is a journey, not a destination.
We certainly do not want records to be kept forever just in case of litigation, and many companies are indeed rethinking the consequences of keeping records too long. It is important to state that when litigation or government investigation is pending or imminent, records should not, and cannot be destroyed. But this aside, a thoughtful analysis of keeping records for the full statute of limitations period, some of which can be very lengthy, as opposed to the disposal of records as soon as legal requirements of met, should be weighed carefully. It is a balancing act, for sure. There are no easy answers here, or blanket solutions, and every company will come to their own subjective conclusions based on their risk factors and litigation strategy. It comes down to the advantages of destroying records as soon as they are able, and what is too soon, or what is long enough.
The advent of big data was arguably the defining moment of the contemporary data management landscape, simply because its deployment and use cases have largely become synonymous with data itself. Each new foray into sentiment analytics, mobile technologies and additional integration efforts of unstructured data with structured data further blurs the lines between big data and traditional data.
Organizations are increasingly recognizing the value of corporate data as a resource and consequently are focusing more on governance of that data. Governance includes keeping track of who owns which data, deciding what needs to be retained and for how long, and ensuring that it is protected. In that context, governance is a component of risk management; in addition, knowing certain things about management of the data is essential to compliance. Governance can also cover processes to ensure they meet the needs of the organization, do not create risks and comply with internal guidelines and external regulations.