As business data continues to grow to exponential levels it’s leaving unstructured data scattered across business’ systems, with the ownership, location and value of that data rendered a mystery.
Organizations work hard and spend vast amounts on managing and protecting the sensitive, critical data they are aware of and is often held in structured repositories and databases. However, it goes without saying that there’s little to nothing they can do about data that is hidden.
These out-of-sight business documents are far more commonplace than you might think – or want to think. Our insight tells us that around 80% of businesses’ data is unstructured, meaning potentially valuable data is hidden away, with no-one knowing where it is, what it is and what it’s worth.
Essentially, businesses have no idea whether four-fifths of their data is an undiscovered goldmine or just insecure information that offers an open door to insider threats and hackers. What’s worse, users reproduce the same type of data over and over, and hardly any companies execute a consistent policy to dispose of data because they’re not sure of its value.
A typical company of 5,000 to 10,000 employees could have up to 100 million files stored, which would take them some 400 years to categorize manually, on the premise they spent just 5 minutes searching, retrieving and reviewing each document. Thankfully for them, and more specifically their employees, there’s now an alternative to the task of painstakingly sifting through this mountain of business data.
A great example of this in action is Saga, which specializes in services for the over 50s. It had a good understanding of the flow of structured data across the organisation but struggled with its unstructured data. By using our BusinessID AI engine, Saga is now able to automatically and quickly identify that data at a 99.99% accuracy rate, while also enjoying peace of mind over what that data is and protect it appropriately.
Saga can now define policies and security practices for the different types of data it has and apply relevant data protection to its various business categories and data. This helps it control the security of sensitive data assets while also identifying, reducing and removing the redundant, obsolete and trivial data. Now Saga understands what data it has, its data is no longer in disarray, and instead it can now utilise data for better business decisions…
Find out more about how DocAuthority can help identify the value of your hidden business data.
by Alan Weintraub January 2019
by Mike Quinn December 2018