|By Marketwired .||
|January 10, 2013 08:00 AM EST||
MOUNTAIN VIEW, CA -- (Marketwire) -- 01/10/13 -- Symantec Corp. (NASDAQ: SYMC) today announced the findings of its 2012 Information Retention and eDiscovery Survey which examined how enterprises manage their ever-growing volumes of electronically stored information (ESI) and prepare for the eventuality of an eDiscovery request. The study found the percentage of organizations without a formal information retention plan dropped by half from the 2011 survey. However, even with this improvement, organizations struggle with implementing their information retention plans as only a third of organizations report their plan is fully operational.
Read Blog Post: If You Fail to Implement Your Information Retention Plan, Then You Plan to Fail
Click to Tweet: Symantec survey reveals improvement in information retention planning but more failures in policy implementation http://bit.ly/SiAeXn
Non-implemented plans risky to organizations
Nearly two-thirds (60 percent) of organizations say they have a formal retention plan, yet only 34 percent report those plans are fully operational. The perceived cost of implementing their plans is reported to be the most common reason why organizations are lagging in plan implementation. The survey found that only 7 percent of organizations don't have any plans in place, a 50 percent drop from 14 percent of organizations reported in the 2011 survey.
Even more concerning is that while they received on average 17 requests for electronically stored information, these requests failed 31 percent of the time. This is significantly higher than the 20 percent of failures reported in 2011. Each time a failure occurs, the organization is at risk. Forty-three percent reported the inability to make decisions in a timely fashion as the biggest consequence of these failures. Other consequences reported include damage to reputation, compromised legal position, fines, raised profile as a litigation target and court sanctions.
"The survey highlights that, although there is a reduction in the number of organizations without an information retention plan, organizations haven't fully funded and implemented their plans," said Trevor Daughney, Director, Information Intelligence Group, Symantec. "With the number of ESI requests and failures to obtain requested information increasing, organizations face risks that are much more costly in the long run than implementing their plans."
No improvement in gap between retention beliefs & practices
There is still a substantial gap between beliefs and practices in retention policies, which has not significantly changed year over year. Eighty-one percent of respondents believe that a proper information retention plan allows organizations to delete information on an ongoing basis. However, 42 percent of backups are indefinitely retained by organizations. This is virtually unchanged from the 2011 results. And, information that is deleted by organizations is often deleted without considering established retention policies.
The most reported negative consequences resulting from preserving more electronically stored information than necessary include: Increased costs associated with collection, analysis and review (54 percent); increased time spent to collect, analyze and review ESI (47 percent); increased risk that sensitive information may be disclosed (44 percent); compromised position in potential or actual litigation (27 percent); and information unintentionally made available for potential future litigation (28 percent).
The survey also reports that organizations are keeping information longer than is needed, and keeping the data within backups rather than archives for legal holds, which reduces efficiencies when performing an ESI request. The survey reveals that 38 percent of data that organizations back up is not needed or shouldn't be kept in backup. In fact, respondents say that a third of backup data (34 percent) shouldn't be kept and is unnecessary due to litigation risk.
More than half of organizations keep that data indefinitely: 56 percent of organizations reported that their backup storage is used for infinite retention that is dedicated to legal hold. This has grown from 43 percent in 2011 and continues to get worse. Further, 85 percent of organizations routinely perform legal holds in their backups, which are not designed to be accessed in the same way as an archive.
Majority of organizations impacted by data privacy laws & regulations
As expected, data privacy laws and regulations have significant impact on organizations with 53 percent reporting that laws and/or regulations impact archiving and eDiscovery initiatives. However, there are many reasons respondents report collecting electronically stored information including: Litigation (60 percent); internal investigations (59 percent); internal compliance initiatives (58 percent); compliance with international regulations and laws (57 percent); compliance with local regulations and laws (55 percent); governmental inquiries or investigations (52 percent); and public information requests (46 percent).
Following are recommendations that organizations can implement to help them more effectively implement their information retention plan:
- Adopt a defensible deletion mindset: When organizations can adopt a defensible deletion mindset they can delete information with confidence according to their information retention policies.
- Err on the side of fewer, rather than many, retention policies: This improves the odds of successful information governance. Start with deleting obvious unnecessary files, then set minimum retention periods for compliance. Additional policies can be added later, if necessary.
- Automate privacy, retention and compliance policies to reduce risk: Allowing your policies to automatically work as they are designed not only reduces the risk of inconsistencies in policy implementation, but reduces the risk of unintentional access or distribution of information.
- Implement a solution in which legal holds can override expiry policies: Consider a unified eDiscovery solution where legal holds can be easily implemented to override expiry policies to avoid spoliation and sanctions.
- Don't use backups for long term retention: Backups are for recovery, archiving is for discovery. Deploy an archiving solution to quickly and easily respond to search requests for electronically stored information.
- Report: Symantec 2012 Information Retention Survey
- SlideShare Presentation: Symantec 2012 Information Retention Survey
- Blog Post: You Fail to Implement Your Information Retention Plan, Then You Plan to Fail
- 2011 Information Retention Survey Materials
Connect with Symantec
- eDiscovery 2.0 Blog
- Follow Enterprise Vault on Twitter
- Follow Clearwell on Twitter
- Follow Symantec on Twitter
- Join Symantec on Facebook
- View Symantec's SlideShare Channel
- Subscribe to Symantec News RSS Feed
- Visit Symantec Connect Business Community
Symantec protects the world's information, and is a global leader in security, backup and availability solutions. Our innovative products and services protect people and information in any environment -- from the smallest mobile device, to the enterprise data center, to cloud-based systems. Our world-renowned expertise in protecting data, identities and interactions gives our customers confidence in a connected world. More information is available at www.symantec.com or by connecting with Symantec at: go.symantec.com/socialmedia.
NOTE TO EDITORS: If you would like additional information on Symantec Corporation and its products, please visit the Symantec News Room at http://www.symantec.com/news. All prices noted are in U.S. dollars and are valid only in the United States.
Symantec and the Symantec Logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.
FORWARD-LOOKING STATEMENTS: Any forward-looking indication of plans for products is preliminary and all future release dates are tentative and are subject to change. Any future release of the product or planned modifications to product capability, functionality, or feature are subject to ongoing evaluation by Symantec, and may or may not be implemented and should not be considered firm commitments by Symantec and should not be relied upon in making purchasing decisions.
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
May. 4, 2016 12:15 AM EDT Reads: 1,106
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
May. 3, 2016 11:00 PM EDT Reads: 1,200
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
May. 3, 2016 11:00 PM EDT Reads: 1,275
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
May. 3, 2016 10:45 PM EDT Reads: 757
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
May. 3, 2016 10:00 PM EDT Reads: 1,312
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
May. 3, 2016 10:00 PM EDT Reads: 1,203
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
May. 3, 2016 09:45 PM EDT Reads: 323
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
May. 3, 2016 08:45 PM EDT Reads: 1,275
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
May. 3, 2016 08:30 PM EDT Reads: 1,197
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
May. 3, 2016 08:00 PM EDT Reads: 1,039
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
May. 3, 2016 05:00 PM EDT Reads: 318
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
May. 3, 2016 04:15 PM EDT Reads: 320
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
May. 3, 2016 03:15 PM EDT Reads: 1,179
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
May. 3, 2016 02:30 PM EDT Reads: 950
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
May. 3, 2016 12:30 PM EDT Reads: 1,171
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
May. 3, 2016 12:15 PM EDT Reads: 1,590
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
May. 3, 2016 12:00 PM EDT Reads: 1,367
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
May. 3, 2016 09:45 AM EDT Reads: 1,453
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
May. 3, 2016 07:00 AM EDT Reads: 1,106
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...
May. 2, 2016 10:00 AM EDT Reads: 2,692