Data management brings risk and value to IT, says IBM
By Ash Dosanjh,
Information management is key to the future of IT and business, according to IBM.
IBM Data Governance Council has predicted five key information challenges that will reshape corporate behaviour and the markets ability to trust information.
The Council, made up of 50 global companies, assessed how businesses will handle the growing amount of complex data generated by companies and financial markets over the next four years.
The findings revealed that data governance will become a regulatory requirement and companies will have to demonstrate data governance practices to regulators in regular audits.
The value of data will also be treated as an asset on the balance sheet and reported by the chief financial officer.
Meanwhile, calculating risk will become an information technology function and the role of the Chief Information Officer will change, making the corporate officer responsible for reporting on data quality and risk to boards of directors.
In addition, the fifth key challenge will be that individuals will be required to take more responsibility for recognising problems and participating in the governance process to facilitate greater transparency and the identification of risk.
“There is no one-size-fits-all approach to data governance,” said head of information governance and quality at BMO Financial Group Richard Livesley.
“Every company must configure their own data governance program based on their individual needs. In just a few years, data governance will become a key benchmark as boards of directors recognise their fiduciary responsibility to enhance and protect data.”
The Council’s findings arrive in conjunction with a cross-industry customer survey also conducted by IBM.
The survey indicated that businesses need to better inventory their information to help reduce risk and derive more value from their business information.
According to the survey, conducted among more than 300 data management professionals from leading Global 5000 companies, risk mitigation and data governance are key drivers of new projects to better track data through the use of metadata.
The survey found that respondents are focused on organising, reusing and sharing corporate knowledge and keeping up with increasing pressures to supply better information to remain competitive.
The survey backs up the IBM Data Governance Council’s assessment, which found that both investors and consumers will benefit as data governance emerges as a required discipline for organisations, which will in turn give rise to greater trust, better transparency and reduced risk.
Related Tags
advertisement
Latest Management Features
Q&A: Motorola's enterprise VP John Coon
Acquisitions, restructuring and more mobility innovations feature in the future for Motorola.
- IT around the world: Russia
- Q&A: Orange's devices chief Francois Mahieu
- Q&A: Plusnet's Neil Armstrong
- Chinese web control an Olympic challenge for tech firms
- MS-OOXML: A format without a future?
- SOS Bletchley Park
- Is Nvidia vulnerable to takeover?
- Where will IT be in 2015?
- NHS IT - something to celebrate?
Latest Management Reviews
Canon ImageFORMULA DR-X10C
Rating: ![]()
advertisement
Latest News Videos in Management
Video: Q&A with Software AG's Karl-Heinz Streibich
The chief executive of Software AG talks about investing in IT in a weak economy and competing with bigger vendors.
White papers
Want more background on today's hottest IT trends?
Visit IT PRO's white paper library for more on virtualisation, encryption and other topics.
Register for IT PRO
You'll get exclusive member benefits including free white papers, downloads, Webinars and weekly newsletters full of the latest IT PRO news, reviews, insight and expertise.



Social Bookmark this article: What is this?