the risks & the rewards by the numbers · 2018-12-20 · the risks & the rewards by the...

1
THE RISKS & THE REWARDS BY THE NUMBERS According to IDC, enterprise data stores are growing at an average rate of 60% annually. As the challenges of Big Data continue to plague businesses, information governance — the controls, safeguards and policies across the enterprise to streamline information management and ensure compliance and efficient access to pertinent data — is more critical than ever. What do organizations risk when they employ poor information governance, and what rewards do they reap when they employ IG best practices? BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms. For more information, please visit www.bdo.com. Material discussed is meant to provide general information and should not be acted on without professional advice tailored to your firm’s individual needs. © 2015 BDO USA, LLP. All rights reserved. Contact: Karen Schuler 703-336-1533 / [email protected] IBM 2015 Cost of Data Breach Study http://www-03.ibm.com/security/data-breach/ 2013, OpenText Enterprise Information Management (EIM) White Paper Series (Information Governance is Good Business) Integrity/Protection Average cost of a data breach: Companies with good IG practices reporting faster response times to events, accidents, press activities and FOIA inquiries: $ 3.8M nearly 50 % The Gartner Master Data Management Summit 2012 Rand Secure Data 2013 Data Governance Survey Accountability/Transparency CIOs fired by 2016 for failing to implement good IG practices: 20 % When the C-suite is invested, likelihood of experiencing complete data loss/ data audit failure: 3x less Compliance/Retention/Disposition Companies reporting current IG practices reducing legal risk: 62 % Average cost of non-compliance issues per company: $ 9.4M 2011, The True Cost of Compliance CGOC The Council, Information Governance Benchmark Report in Global 1000 Companies Availability Companies missing business opportunities due to inefficient information access: 73 % Companies with IG programs with live access to archived data: 64 % IBM Infographic, Are You Confident In Your Data? The Council for Information Auto-Classification's survey (The Information Explosion: How Organizations Are Dealing With It)

Upload: others

Post on 12-Jul-2020

3 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: THE RISKS & THE REWARDS BY THE NUMBERS · 2018-12-20 · THE RISKS & THE REWARDS BY THE NUMBERS According to IDC, enterprise data stores are growing at an average rate of 60% annually

THE RISKS & THE REWARDS BY THE NUMBERSAccording to IDC, enterprise data stores are growing at an average rate of 60% annually. As the challenges of Big Data continue to plague businesses, information governance — the controls, safeguards and policies across the enterprise to streamline information management and ensure compliance and e�cient access to pertinent data — is more critical than ever. What do organizations risk when they employ poor information governance, and what rewards do they reap when they employ IG best practices?

BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms. For more information, please visit www.bdo.com.

Material discussed is meant to provide general information and should not be acted on without professional advice tailored to your firm’s individual needs. © 2015 BDO USA, LLP. All rights reserved.

Contact: Karen Schuler 703-336-1533 / [email protected]

IBM 2015 Cost of Data Breach Study http://www-03.ibm.com/security/data-breach/ 2013, OpenText Enterprise Information Management (EIM) White Paper Series (Information Governance is Good Business)

Integrity/Protection

Average cost of a data breach:

Companies with good IG practices reporting faster response times to events, accidents, press activities and FOIA inquiries:

$3.8M nearly

50%

The Gartner Master Data Management Summit 2012 Rand Secure Data 2013 Data Governance Survey

Accountability/Transparency

CIOs fired by 2016 for failing to implement good IG practices: 20%

When the C-suite is invested, likelihood of experiencing complete data loss/ data audit failure:

3x less

Compliance/Retention/Disposition

Companies reporting current IG practices reducing legal risk: 62%Average cost of

non-compliance issues per company:

$9.4M2011, The True Cost of Compliance CGOC The Council, Information Governance Benchmark Report in Global 1000 Companies

Availability

Companies missing business opportunities due to ine�cient information access:

73%Companies with IG programs with live access to archived data: 64%

IBM Infographic, Are You Confident In Your Data?The Council for Information Auto-Classification's survey (The Information Explosion: How Organizations Are Dealing With It)