9 Trends To Watch: Information Governance
By now, it’s clear to the majority of businesses that information governance and cloud computing together to represent the wave of the future when it comes to data management as well as e-discovery. Yet, with technology changing faster than anyone can really keep up with, how can organizations be sure they’re making the strategically correct decisions when it comes to their individual approaches? Keeping an eye on the eight hottest trends in IG governance in the cloud can serve as an excellent metric to help gauge your actions accordingly.
1. Increased Need for Data Security
The need for data security is drastically increasing as more organizations are shifting their back-end operations to the cloud. In response, companies can expect security compliance requirements to see significant expansion in the upcoming years.
2. Integration Platform as a Service (IPaaS)
Integration platform as a service offers managed service providers (MSPs) the ability to address the joint problems of data integration and information management for businesses as they make the transition from on-premise procedures to operating fully in the cloud.
3. Data as a Service (DaaS)
Along with IPaaS, the market emergence of DaaS represents an attempt to manage aggregated data sets from a number of different sources. This improves the usability factor and helps increase availability. More data providers will be coming online, and more cloud service providers will be selling DaaS to their clients.
4. EDiscovery Fully in the Cloud
While gathering data from the cloud is nothing new in terms of electronic discovery, many sources predict that both information governance and major eDiscovery platforms will shift completely into the cloud, both for collection and processing of data. Concerns over hardware stability, third party data centers for staging, and shifting massive amounts of data will all fall by the wayside.
5. Prices Will Drop
As IG in the cloud continues its impressive level of momentum, the associated costs are likely to reduce dramatically. This means a related decline in electronic discovery costs as well, offsetting the early days of exorbitant per-gigabyte pricing that used to be considered the business standard. As the market need for cost-effective information governance and electronic discovery becomes more pressing, the number of companies demanding service will force the price-point to drop to a more reasonable level.
6. Expansion of IG Will Include Social Media
In the minds of most decision-makers, information governance applies to business-related data, financial records and other such practicalities. Yet, the prevalence of social media as a rich source for discovery indicates that information governance policies are likely to include social media by default before too much longer.
7. Predictive Coding Moves Front and Center
Despite the many debates over predictive coding, its likely adoption for mainstream use just makes sense. As integration improves, more litigators will learn to appreciate the inherent value and possibility present in predictive coding; this will lead to a more widespread acceptance through the court systems as well.
8. Semantic Search Will Gain Popularity
In the same vein as predictive coding, semantic search functionality is also going to pick up steam in the coming years. Semantic search often forms the foundation of eDiscovery technology platforms; as those in the legal industry realize the benefits of semantic search over older and less efficient alternatives, courts will reward these efforts with greater legitimacy as well.
9. Increasing Availability of End to End Solutions
For both electronic discovery and information governance, more vendors will deliver end to end solutions that provide support where companies need it the most. On the flip side, more corporations are becoming aware of the necessities of information governance, which in turn will create a higher market demand for vendors who are able to provide end to end solutions.
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