Legal-IT Data Archiving Disconnect Hinders Companies
Tensions are rising between legal and compliance teams and IT departments over data archiving, with only 20% of legal and compliance teams satisfied with IT's performance. This disconnect is hindering companies from fully utilising their internet archive.
The root of the issue lies in differing objectives. IT departments prioritise business needs, while legal and compliance teams focus on risk mitigation. This divide is exacerbating an already complex situation, with both departments considering themselves responsible for data archiving. Historically, data archiving was driven by legal and compliance initiatives, business continuity, and disaster recovery.
To bridge this gap, companies are increasingly appointing Chief Data Officers. These roles oversee the development and implementation of programs that derive value from data archives, fostering a strong data culture and driving data-driven transformation. They coordinate data governance, infrastructure, and analytics to maximize business value from data assets. This approach has already generated $1 million or more in additional revenue for over a third of companies. Despite this, only 38% of legal/compliance teams agree that data archives enhance revenue, compared to 70% of IT respondents. Creating a cross-functional archiving committee and deploying secure data archive technology can improve collaboration and efficiency, helping companies leverage their wayback machine to gain competitive advantages.
The appointment of a Chief Data Officer can help balance competing objectives and derive value from data archives. By fostering collaboration and improving efficiency, companies can fully utilise their internet archive, driving revenue growth and gaining competitive advantages.
Read also:
- Web3 gaming platform, Pixelverse, debuts on Base and Farcaster networks
- Cannabis-Focused CTV Channel Citizen Green Launches for Global Streamers
- Goodyear in 2025: Advancement in Total Mobility through the Launch of Kmax Gen-3 by Goodyear
- Boston Metal pioneers route to commercial production for eco-friendly steel method
