What is it?
Information governance, or IG, is the overall strategy for information at an organization. Information governance balances the risk that information presents with the value that information provides. Information governance helps with legal compliance, operational transparency, and reducing expenditures associated with legal discovery. An organization can establish a consistent and logical framework for employees to handle data through their information governance policies and procedures. These policies guide proper behavior regarding how organizations and their employees handle electronically stored information (ESI).
Information governance encompasses more than traditional records management. It incorporates information security and protection, compliance, data governance, electronic discovery, risk management, privacy, data storage and archiving, knowledge management, business operations and management, audit, analytics, IT management, master data management, enterprise architecture, business intelligence, big data, data science, and finance.
Data Privacy is the relationship between the collection and dissemination of data, technology, the public expectation of privacy, legal and political issues surrounding them. Data privacy is a challenging since it attempts to use data while protecting an individual’s privacy preferences and personally identifiable information. The fields of computer security, data security, and information security all design and use software, hardware, and human resources to address this issue.
Data security means protecting digital data, such as those in a database, from destructive forces and from the unwanted actions of unauthorized users, such as a cyberattack or a data breach.
Why is it important?
In an ever increasingly technology driven economy information governance, data privacy and data security are more necessary than ever. A single company may possess the personal information of millions of customers—data that it needs to keep private so that customers’ identities stay as safe and protected as possible, and the company’s reputation remains untarnished.
What to look for in Information Governance, Data Privacy & Security Solutions?
IT and other internal stakeholders should be involved in the selection, implementation and maintenance of these solutions—they have implications for the organization as a whole. These solutions should be focused on both external and internal threats to security. Solutions should be implemented concurrently with corresponding corporate policies.