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Firms 'failing' in data management

Firms are not adequately managing their data, according to new research.

Despite quick and large increases in the amount of electronic data held by businesses, less than 77 per cent of organisations have established policies that cover digital record, a report by Iron Mountain has found.

By comparison, more than 80 per cent of the US organizations questioned had strict and stringent policies for the management of physical records.

Bob Brennan, president and chief executive of Iron Mountain, said: "Simply put, managing records is about managing risk. The report offers … some interesting insights in records management maturity.

"The organisations who understand this have developed enterprise-wide programs that provide them quick access to information, manageable storage costs and peace of mind that they've made good faith efforts to comply with increasing regulatory requirements."

Despite these findings, Iron Mountain also revealed that 64 per cent of respondent companies were committed to improving their data management.
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