Are you drowning in vast amounts of data and not sure where the lifebuoy is?
Unstructured data is like the deep ocean, very much an unknown, difficult to view, access and a large proportion unused. Organisations are in unchartered waters when it comes to managing risks, fulfilling personal information requests (PII’s) or data subject access requests (DSAR) under GDPR.
Where is this unstructured data being held?
Unstructured data is becoming more difficult to manage due to its complexity. It is split across hard drives, email accounts, PSD’s, and even the paper files hiding in your office desk and drawers. Given that these types of data aren’t easily accessed when data is required, organisations are struggling to provide data within necessary time frames. As this deep ocean of data grows organisations will have to pay for more and more storage space, not to mention the risks of noncompliance rises as there is now more than ever a greater volume to manage.
Will unstructured data lead to regulatory compliance issues?
It is necessary to hold on to unused data for compliance purposes. Retention policies are complex, companies are required to retain certain records, usually for a specific amount of time, ranging from a couple of years to permanent retention. The accidental or intentional destruction of these records during their specified retention periods could result in consequences such as- fines and penalties, loss of rights, contempt of court charges, reputation damage, etc.
Since May 2018, organisations are receiving an unprecedented number of DSAR, eDiscovery and Compliance requests relating to email and file data. The legal costs are directly related to the time it takes to search and retrieve information within an email. The penalty for major violations can be up to €20 million or 4% of your company’s annual global revenue – whichever is higher.
How to swim in the vast ocean of unstructured data?
If unstructured data is managed effectively it can not only dramatically reduce company risk, but it can also hold the key to future company growth by increasing operational efficiency, productivity, improving customer support and loyalty and even improve employee engagement.
Waterford Technologies provides a premium data indexing and management solution that dives deep into the unchartered territories of file and email data and gives organisations easy ways to help keep their unstructured data accessible, ensuring that risks around compliance are kept to a minimum. This will give organisations far better insight into the information that they own and how best they can utilise it.
To find out more about unstructured data for the Not for Profit Sector, register for our Free 30-minute Webinar on the 28th of May 2019: https://zurl.co/Plp1
Head of Marketing,