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Data Inventorying Increases the Value of Information Assets by 15%, According to Ponemon

December 5, 2018

ATLANTA--(BUSINESS WIRE)--Dec 5, 2018--According to new research from the Ponemon Institute, commissioned by DocAuthority, improving the visibility and management of data can immediately increase the value of a business’s information assets by 15 percent.

The independent research surveyed 2,827 professionals with a responsibility for important business data in the US and UK, across seven functional areas. It found that the value of companies’ information assets were 15 percent higher if they were using an automated discovery tool to better understand and manage their data.

Respondents who used an automated discovery tool:

rated the ‘market value’ of data as being on average 15% higher than those who hadn’t used automated tools. Market value was defined as what their organisation could earn from trading or selling the information. rated the ‘business value’ of data as being on average 15% higher than those who hadn’t used automated tools. Business value was defined as how good and relevant the data was for specific purposes.

“Businesses are short-changing themselves if they don’t understand the value of their data,” says Doctor Larry Ponemon, Chairman and Founder of the Ponemon Institute. “You need to have a clear view of your data, where it is, who can see it, what is valuable and what is toxic if you are to effectively manage and defend it. But you also need the same level of understanding if you hope to appreciate and realise the true value of data you hold; whether that is Intellectual Property or data that increases business sales or marketing effectiveness.”

Steve Abbott, the CEO of DocAuthority, comments, “The implications of these findings are far-reaching. Data discovery enables Chief Data Officers (CDOs) to identify the market value in order to monetise their information assets, as well as put a dollar value on governance projects. Data management - by using automated data identification tools - allows CDOs to not only communicate to the CFO in a language they understand, but to demonstrate their ability to immediately impact a business’s bottom line and can be done with relative ease.”

Steve continues, “If you don’t understand the data held within your business, how can you know the commercial value of the assets you have available in the context of a sale? Only around 5% of data retained by businesses will be the most valuable; but identifying that 5% is a major challenge for businesses battling with unstructured data.”

Notes to editors

The research report - Understanding the Value of Information Assets – was independently produced by Ponemon Institute and is available: http://bit.ly/2QlbO24

Methodology

Respondents were asked to rank the importance of six criteria on a scale of 1 = not important to 10 = essential Respondents results were divided by whether they had, or had not used an automated tool to help undertake data discovery work – 43% had, 57% had not or were unsure ‘Market value’ was rated by those who used automated tools at 7.13 / 10 versus 6.53 / 10 for those that didn’t. ‘Business value’ was rated by those who use automated tools 7.88 / 10 versus 6.69 / 10 for those that didn’t.

About DocAuthority

DocAuthority is a leading document control solutions company. It offers organisations a broad, yet business-friendly, security policy utilising AI to help automatically discover and accurately identify unstructured and unprotected sensitive documents to help prevent them from falling into the wrong hands. DocAuthority works with enterprise-size organisations in all sectors including the healthcare, retail, technology, energy, public sector, telcos, services and financial services sectors to help these businesses understand the risk they face and design an effective mitigation plan to improve the security of sensitive data. Founded by Ariel Peled and Itay Reved in 2013, DocAuthority is a global company headquartered in Raanana, Israel and is managed by the people who pioneered DLP.

To learn more about DocAuthority, visit www.DocAuthority.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181205005110/en/

CONTACT: General enquiries:

Mike Quinn,

DocAuthority

E:mike.quinn@docauthority.comMedia enquiries:

Sarah Shkargi

Waters Communication

E.Sarah@waterscomms.com

KEYWORD: UNITED STATES NORTH AMERICA GEORGIA MIDDLE EAST ISRAEL

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE SECURITY

SOURCE: DocAuthority

Copyright Business Wire 2018.

PUB: 12/05/2018 06:00 AM/DISC: 12/05/2018 06:00 AM

http://www.businesswire.com/news/home/20181205005110/en

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