“We are living with the consequences of a generation of attempts to force analog practices to work in a digital world. It has failed.”
Barclay T. Blair, Quantified Information Governance Special Report
Our lives are increasingly quantified by data. The demand for devices that track and analyze the data we generate just by living have given rise to the “quantified self.” Analysts predict that by 2020, the market for fitness wearables will grow to $10B USD, with over 100M people using the devices to enable data-driven decisions about health, sleep, exercise, and other critical aspects of their lives.
The promise of data-driven decision making is this: processing and analyzing data at a scale far exceeding the capabilities of the human brain will transform our ability to understand and predict reality. The IGI believes that the ability to govern information in a way that enables these deeper insights, unforeseen efficiencies, and new business models will separate the winners from the losers in this new era.
But we still have a long way to go. While we invest in technology that can beat a human at Jeopardy® in one part of our organization, we are stuck with the technology that prints Trebek’s cue cards in another. For all the big data sexiness, “up to 80% of the total development cost of an analytics project” is spent on “data discovery and wrangling . . . the most tedious and time-consuming aspects of an analysis.”
Most organizations don’t know what data they have, where that data lives, what the data means, what rules apply to the data, and whether or not the data represents measurable value or risk. Consequently, our data is messy, incomplete, difficult to find and access, duplicative, and missing context essential to enable its analysis and use. In short, we are living with the consequences of a generation of attempts to force analog practices to work in a digital world. It has failed.
In fact, most organizations make management decisions about their information based on tradition, superstition, and supposition instead of innovation, evidence, and analysis.It’s time that our approach to governing our information caught up to the information age. It’s time for a new idea.
We believe that this new idea is Quantified Information Governance.
We have captured our thesis, vision, and guidance on Quantified IG in a new Special Report written by Barclay T. Blair, Executive Director of the IGI. Quantified Information Governance: A New Path to Value from Data, our first piece in what will be an expanding focus for us, was published with the support of Guidance Software.
Quantified Information Governance: The application of smart technology and evidence-based practices to the governance of information. It ensures that we have essential facts about our information and our operating environment so we can make evidence-based decisions.
Existing IGI Community members can also login and download it here.
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