Keeping to the rigorous data quality
and availability requirements needed for regulatory compliance can be a challenge. According to a Legal Exchange Network report, this is the toughest task faced by corporate counselors, with more than half of these professionals stating that managing data is also becoming harder over time.
Modern litigation often hinges on files stored digitally. This growing importance as well as the sheer volume of data stored in systems has presented challenges for information managers at the corporate level. According to the survey, 39 percent of respondent companies have plans under way to improve data management strategies.
Respondents to the Legal Exchange Network study explained that some of their compliance and governance difficulty comes from an inability to establish strong, company-wide policies that would ensure data quality. The source noted both companies with practical experience in litigation and those simply engaged in highly regulated practices are eager for new solutions.
Data governance is a complicated area which can be spread throughout a company. Expert Danette McGivary recently told TechTarget that firms should engage officials outside of the IT department to provide a real-world perspective on data usage and determine whether proposed plans are feasible. IT users can then implement the actual controls.