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In our previous look inside last year’s IGI Annual Report 2015-2016, the industry’s most comprehensive research on information governance (IG) as a concept, profession, and market, we discussed why organizations need IG steering committees. Today, we look at how many IG projects organizations are undertaking and what they are spending.
On average, organizations that are actively doing IG work have multiple projects running at the same time. As the chart below shows, the average number of projects per organization and average total cost per project generally increases with organization size, though this correlation is not perfect. Indeed, within each group (by organization size) there is a wide distribution in both the number of active projects reported (some reported only one and others more than fifty) and the average per-project spend (some reported $10,000 or less, others over $3 million USD). This variation is not surprising given how broadly our community defines IG and its activities and technologies.
There is clearly a wide range of what might constitute an IG project. However, while this variation is predictable, it should be kept in mind when considering these numbers. We also note that when designing the survey, we created an opt-out response, anticipating that both practitioners and some people working for providers might have difficulty answering these questions or may prefer not to. As such, the number of respondents to these questions was lower than the average number of respondents for other, less sensitive questions.
While we did not attempt market-sizing and this data does not predict the overall IG market size, it does show that there is an IG market, and it is growing. Organizations are tackling IG, and they are spending money to get the work done.
The IGI has begun the process of developing the 2016-2017 IGI Annual Report, building upon the success of the last two years. As part of the research for our Report, we are conducting a survey of information governance professionals. Please participate in our survey to help us create a great resource for the IG Community. The results will be published in a comprehensive Annual Report which will include a variety of infographics and other tools we will freely provide to the IG Community under a Creative Commons license. These infographics have become part of many IG practitioners’ internal presentations, and the Annual Report has become the go-to reference guide for many in the industry. In the meantime, take a look insider last year’s report. All data you provide through this survey will be reported anonymously.