The quarterly publication of the International Legal Technology Association
Issue link: http://read.uberflip.com/i/230349
6 by Emily Wojcik of CommVault Businesses need to think about long-term solutions for how they store their data. What will bring actual value to the organization? Evaluating the current state of storage is the first step in the right direction to end the hoarding of data and make valuable business data work for the business. Below are several questions legal organizations can ask when determining whether they need to keep information: 1: How much of what we're paying to store has real business value? 2: Are we keeping information that could pose a potential risk? 3: Can we find the content we need in real-time? 4: How much are we paying annually in long-term vaulting costs? 5: Is our data growing stale and consuming valuable storage space? 6: Do we know what we are storing, as well as where and why? Businesses can reduce their long-term storage costs and improve their records management, e-discovery and corporate governance by automatically organizing, classifying and storing only necessary data and speeding search and access. According to Gartner, most organizations (62%) still don't utilize any specific tools to help them understand and make decisions on the retention/management of their unstructured data. Archiving information is critical to the legal industry, but it most often entails just moving the problem from primary storage to a less expensive archive. Making sense of the data will help streamline the process when there are documents needed for e-discovery or other legal processes in a time crunch. If organizations invest in the right solutions, they steer clear of saving too much information and can integrate data management and content-based retention to lower the cost, complexity and risk of storing business and compliance data. 62 Peer to Peer