by Angela Guess
A new article takes a look at a major source of data headaches, compliance issues. The article states, “The digital revolution has given rise to a literal explosion of data, as the volume of information shared, distributed and stored increases exponentially on a daily basis. An ever-growing list of regulatory compliance adds to the burden, generating masses of additional data that needs to be managed. This is further complicated by emerging trends such as big data, cloud data, change data capture, data integration, data analysis and so on. To add to these challenges, businesses need to manage a data avalanche on an ever-tightening budget, and there’s really no wonder that data has become the source of so many business woes, causing the proverbial headache.”
The article continues, “A report recently issued by Aberdeen Research indicates that almost half of finance employees are “challenged by the fact that their organisations are leveraging risk and compliance data in different formats, making it difficult to compare data”. According to the report, complying with regulations is a key concern for CFOs. And a distressing number of respondents indicated that the existing IT infrastructure is lacking in the advanced capabilities needed to support governance, risk and compliance (GRC) initiatives.”
It adds, “This is far from the end of the problem, however. Gartner predicts further headaches, stating that “by 2016, 20% of CIOs in regulated industries will lose their jobs for failing to implement the discipline of information governance successfully”. Gartner also recommends that these regulated businesses invest in information archiving technology in order to bring data under control.”
