The quarterly publication of the International Legal Technology Association
Issue link: https://epubs.iltanet.org/i/116777
TAKE OWNERSHIP OF YOUR DATA IN 2013 by Vincent Brunetti of RVM Although pundits labeled 2013 the year of "big data" before the ball made landfall on New Year's Eve, it will be a year characterized more by unified understanding than just size. As a result, only those organizations that are fully familiar with their information portfolio, large or small, are likely to succeed in the contemporary era of high-stakes and time-sensitive litigation. Companies of all types, therefore, must now recognize why they maintain certain records, rather than simply know where they reside. And they need to manage risk by controlling the flow of information more effectively. HERE ARE FOUR WAYS THAT YOUR TEAM CAN TAKE OWNERSHIP OF ITS DATA IN 2013. 1. CONDUCT A DATA AUDIT To effectively administer and appreciate the significance of enterprise data, an organization must first be aware of the data's location, condition and value. Start by revisiting data standards on a departmental level, with a focus on prioritizing each unit's current and high-value repositories for highly accessible resources and subordinating low-value details concerning former employees or legacy transactions. In modern discovery, data audits serve to mitigate data loss risks, control access, reduce costs and increase operational efficiencies. They also accelerate response time and bring greater awareness to an inherently uncertain process. 2. BE PROACTIVE Whether you are concerned with information that resides on internal servers and company-issued PCs or disparate data available in social media and on flash drives, personal mobile devices and tablets, it is critical to understand why employees are storing it. Study employee usage, applications and justifications for each department to help your team anticipate, instead of react to, requests for information in a way that accounts for individual and organizational behavior. Proactive practices that yield a pragmatic understanding of records creation will ensure the integrity of your data landscape. 3. USE DATA ANALYTICS The explosion in data volumes is forcing every organization to re-evaluate how it abstracts key operational and risk-factor knowledge from enterprise data. Start by identifying what details are critical to operations and longevity of the business. Once identified, apply cutting-edge technology to classify, analyze and drive value from your knowledge management systems. In a legal context, classifying information in this manner using analytics empowers early case assessment and enhances reporting. 4. TAKE A THOUGHTFUL APPROACH While corporate employees have become prolific savers and attentive archivists of knowledge, much of the data legacy they create is irrelevant to the viable operation of the organization. Despite the minimal costs of storage and processing power, those leaders in legal and IT associated with records management should encourage more thoughtful information creation. Although different industries require a customized approach to their document maintenance based of varying degrees of regulatory oversight, all companies of any size must recognize the necessity of proper intelligence appraisal and control in 2013. 34 Peer to Peer