Cohasset Associates, Inc.                                                                                                 ...
Cohasset Associates, Inc.                                                                                                 ...
Cohasset Associates, Inc.                                                                                                 ...
Cohasset Associates, Inc.                                                                                                 ...
Cohasset Associates, Inc.                                                                                                 ...
Cohasset Associates, Inc.                                                                                                 ...
Cohasset Associates, Inc.                                                                                                 ...
Cohasset Associates, Inc.                                                                                                 ...
Cohasset Associates, Inc.                                                                                                 ...
Cohasset Associates, Inc.                                                                                                 ...
Cohasset Associates, Inc.                                                                                                 ...
Cohasset Associates, Inc.                                                                                                 ...
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M12S05 - CASE STUDY: Leveraging Content Analytics to Kick-Start your Information Governance Initiative

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From the MER Conference 2012

Speaker: Kristi Perdue

Effectively and defensibly managing business content is an overwhelming challenge for most organizations. The task of sorting the relevant from the non-relevant is critical. Successfully implementing an information governance strategy first requires a thorough understanding of the organization's information landscape - "the good, the bad, and the ugly".

Like trying to capture the proverbial greased pig, understanding your data is very difficult. Many that try immediately ask, "Where do we start?"

In this pioneering case study, learn how a large financial institution utilized content assessment to:

- Evaluate their information landscape,
- Analyze huge volumes of data, and
- Assess their "governance maturity".

All this was done prior to implementing their information governance strategy.

This session provides valuable insights regarding:

- Learning how advanced analytics and classification technologies can help your organization identify and analyze huge volumes of data,
- Understanding your organization's digital content - where it is and what is in it,
- Proposing taxonomies based on the content,
- Realizing how much content assessment can both help determine areas of risk and cost reduction as well as facilitate aligning the priorities for your strategy,
- Reducing your organization's "digital haystack" - legally and quickly, and
- Applying the methodologies discussed promptly - to help kick-start your information governance strategy enterprise-wide!

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Transcript of "M12S05 - CASE STUDY: Leveraging Content Analytics to Kick-Start your Information Governance Initiative"

  1. 1. Cohasset Associates, Inc. NOTES S05. CASE STUDY: Leveraging Content Analytics to Kick-Start your Information Governance Initiative Monday May 7, 2012 2:30 – 3:30 p.m. Kristi Perdue erms Perdue, Director, Product Marketing kristi.perdue@viewpointe.com Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. This presentation and the information contained in it provide an overview of content analytics and is not intended to be used as legal advice. Viewpointe provides this material “as is” without warranty of any kind, either express or implied, including, but not limited to, the implied warranties of merchantability or fitness for a particular purpose. This document could include technical inaccuracies or typographical errors and individual users are responsible for verifying any information contained herein. All company and product names used in this p y p document are used for identification purposes only and may be trademarks or registered trademarks of their respective owners. The information in this document and discussed in this presentation is the exclusive property of Viewpointe Clearing, Settlement & Association Services, LLC. It may not be copied, disclosed, or distributed, in whole or in part, without the express written permission of Viewpointe. © 2012 Viewpointe Clearing, Settlement & Association Services, LLC. All rights reserved. Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 2 Agenda o Market Challenge o What is Content Assessment? o Case Study o Benefits Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 32012 Managing Electronic Records Conference 5.1
  2. 2. Cohasset Associates, Inc. NOTES Complex Legal and Regulatory Obligations RISING LITIGATION COSTS REGULATORY OBLIGATIONS AND COMPLIANCE Average cost to collect, Classifying the cull and review information information for regulatory per legal case1 obligations and $3M compliance is complex across the enterprise’s Portion of Information data Unnecessarily R t i d2 U il Retained Regulatory Record Has Keeping Business Utility Subject to Everything Legal Hold 70% Else Sources: 1. Litigation Cost Survey of Major Companies, 2010 (from Conference on Civil Litigation, Duke Law School, May 2010) 2. Industry Estimates Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 4 Information Growth and Complexity 70% of organizations have 6 or more document repositories By 2015, 60% of information workers will interact with content through a mobile device Data doubles every 12 -18 months By 2014, refusing to communicate with customers via social channels will be as harmful as ignoring a customer email or phone call today 80% of data is considered unstructured while 90% is considered unmanaged Source: Gartner PPC 2012 Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 5 Slow Progress to Take Control MISALIGNED PROCESSES DEFENSIBLE DISPOSITION AND BUDGETING OF CONTENT Fortune 1000 companies Companies that can that have initiated ‘claim’ that they can comprehensive defensibly dispose of information governance content today2 strategies1 44x 22% 2020 5-8% 5-8% 35 ZB* * Zettabyte = 1 trillion gigabytes Sources: 1. 3. IDC Analyst Estimate, October 2011 2. Source: CGOC Benchmark Report on Information Governance, October 2010 Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 62012 Managing Electronic Records Conference 5.2
  3. 3. Cohasset Associates, Inc. NOTES Why Is It So Difficult? Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 7 Understanding Your Information Landscape o Where do I start ? o What don’t we know? o How do I sort through the debris? Unnecessary Necessary Information Information Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 8 What Is Content Assessment? o Combination of software, services and best practices that enable informed decisions about your content o Provides organizations with the ability to explore, analyze, organize the content across their information landscape and validate their actions based on business value o Content Assessment enables • discovery of content • insight into the value of your content • identification of compliance gaps • defensible disposition • proactive management of valuable business data Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 92012 Managing Electronic Records Conference 5.3
  4. 4. Cohasset Associates, Inc. NOTES Content Assessment: Components o Technology • Analyze – Content analytics • Classify – Auto-classification • Collect – Content crawlers o Services • Assess o Best practices and industry standards o Evaluation and recommendations Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 10 Content Analytics o Enterprise content assessed to understand the content that matters o Automatically extract and analyze concepts, entities, relationships, metadata and classifications o Multiple graphical views of the facets of unstructured content (i.e., clustering) o Automatic highlighting of interesting anomalies and correlations in the data o Analysis focused on more than metadata for in-depth understanding y p g • Topic of document and topic changes • Purpose of document • Organizations mentioned • Individuals mentioned • Concepts mentioned • Key cutoff dates • Key business concepts Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 11 How Analytics Work Analyzed Content Extracted Claimant: Soft Tissue Injury Concept (and Data) Person Injury Body Part Location Noun Verb Noun Phrase Prep Phrase John sprained his ankle on the step ... Source Information Internal (ECM, Files, DBMS, etc.) and External (Social, News, etc.) Automatic Visualization for Interactive Exploration and Assessment Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 122012 Managing Electronic Records Conference 5.4
  5. 5. Cohasset Associates, Inc. NOTES Leveraging Analytics for Better Assessment o Assess and decide what information to manage, trust and leverage o Determine content silos demanding priority attention o Expose sensitive data such as financial info and personally identifiable information (PII) o Detects near duplicates o Enables defensible disposition of duplicate, over-retained or irrelevant information (i.e., ROT) o Retain relevant information and business context Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 13 Auto-Classification o Applies taxonomy/classification schedule to content in an automated or semi-automated fashion to meet confidence thresholds o Categories unique to your organization • Used to explore content and match documents as well as refine categories and rules as needed o Can also create category schemes and training sets • Automatically clusters content into proposed categories • Explores content based on those category schemes, self-learns • Export categories and content for training and ongoing application Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 14 Content Collection o Content crawlers can automate the collection of content identified as valuable • Connectors to repositories • Content in file shares o Auto-classification rules can be applied on ingestion o Options • Decommission of legacy repository • X-forward Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 152012 Managing Electronic Records Conference 5.5
  6. 6. Cohasset Associates, Inc. NOTES Services and Evaluation o Help prioritize information governance strategy based on • Potential cost-reduction opportunities • Identified risk or compliance gaps and needed remediation o Best practice recommendations • ARMA Diagnostic Tool – Assessing records management maturity • GARP® Assessment – Evaluation of more than 100 attributes of information governance you can deploy across your organization to determine how you measure up against the GARP® principles to help determine your individual principle scores, leading to an overall GARP® score for information governance readiness Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 16 Case Study Viewpointe Proprietary & Viewpointe Proprietary & Copyright Viewpointe 2012. All Rights Reserved. Confidential Information. Confidential Information. Copyright Viewpointe 2012. All Rights Reserved 17 About Viewpointe o Founded in 2001 with an original charter to solve information management for financial services companies • Built by the financial services industry for the financial services industry, Viewpointe understands the complexities of highly regulated industries • Over 1,500 of the top U.S. financial institutions use Viewpointe solutions o Viewpointe has an established and proven legacy of providing information- centric services via our private cloud p o Provides solutions and services for information governance, check exchange and clearing & settlement Viewpointe at a glance: A trusted partner to Provides the Manages 184 billion Selected as one of many of the nation’s nation’s largest items, with over six the best financial largest, most trusted archive at million sub-second technology service complex over 29 PBs in retrievals daily from providers by FinTech companies, storing our private cloud its private cloud 100 since 2006 some of their most sensitive data Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 182012 Managing Electronic Records Conference 5.6
  7. 7. Cohasset Associates, Inc. NOTES Information Governance Platform OnPointe is an information governance platform – enabling compliance across the enterprise, enforcing retention and disposal of content – delivered via a secure, scalable, private cloud built to augment an organization’s current IT infrastructure. CLASSIFY RETAIN ANALYZE PRESERVE COLLECT DISPOSE Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 19 OnPointe Provides… • Helps customers meet regulatory, legal and business requirements for data access, monitoring, Information retention management and defensible destruction of information via automated enforcement of Governance your governance policies. Improve compliance and eDiscovery processes to help increase predictability, mitigate risk and lower cost. Secure • Customer data is securely managed and retained in our geographically dispersed, Tier 3+ data centers to help ensure data protection and business continuity. Our services undergo an annual Cloud SSAE-16 (formerly SAS70 Type-II) review. On-Demand • Sophisticated retrieval capabilities help to ensure near-instant access to important data for Access A knowledge sharing, i k l d h i inquiry and d i i making. i d decision ki Cost • Consumption-based model helps you control costs and minimize upfront investments in Management & hardware, software, installation and maintenance, helping to deliver a lower total cost of ownership (TCO) for your organization. Efficiency Flexible • Using a standard application programming interface (API) to our distributed infrastructure allows for Integration ease of integration with existing business processes and applications. • While support from the OnPointe team during implementation is inherent in the platform, these Assessment optional services help you understand your enterprise information landscape while highlighting Services specific areas for improvement based on industry best practices, providing recommendations for achieving holistic information governance. Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 20 Assessing an Organization’s Environment The Viewpointe Content Assessment process is designed to benefit organizations with an evaluation of their RIM environment o Services typically included: • Ranking organization to industry peers using the ARMA diagnostic tool • Evaluating sample data sources by using automated assessment tools, identifying gaps or deficiencies • Identifying potential areas of risk for remediation and lowering of their risk profile • Identifying potential cost-reduction opportunities o Deliverables typically included: • Analysis of customer’s records management environment • Recommendations affecting prioritized areas within prospective environment • Provision of a future state policy, procedures and technology vision • Development of a business case and technical solution to optimize the company’s record management program and information governance strategy Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 212012 Managing Electronic Records Conference 5.7
  8. 8. Cohasset Associates, Inc. NOTES Viewpointe Content Assessment – Typical Findings Metric Description Typical Customer Status Maturity ARMA RIM Diagnostic Survey Companies typically are in the 30-70% range. Record Defines document categories for Despite up-to-date policies and retention Retention business records and their associated schedules, may not be universally known or Policy & retention, which can be time and/or enforced. Rules event-based. Record Records / non-records past deletion Companies typically have geographically based Retention dates are in the system exposing system, file shares with no retention management; high companies to risk and cost. levels (>20%) of over-retention records. Duplication Unnecessary duplicates maintained in Typical duplication rates are 30-60%; higher for system emails and lower for SharePoint. PII Data PII in the system in potential violation Typically 0-5%; higher rates for older documents. of company’s own rules and government regulation eDiscovery Added eDiscovery cost and risk Too much ESI from duplication and over-retention. Readiness assumed when their systems are not No clear audit, understanding of data sources, under proper information governance automation of legal holds or early case control assessments. Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 22 Viewpointe Content Assessment: Case Study Large Financial Services Organization o Business Problem: • Corporate compliance initiative to get content under control • Multiple repositories of content from years of acquisitions • IT costs too high; CIO directive to reduce storage costs • Legal mandate for all content to be compliant • Intellectual property (IP) scattered across the organization p p y( ) g • IP lost due to lack of security and proper management • Data duplication o Business Objective: • All digital content under control and in compliance • Unnecessary digital content removed • New, incoming content is managed and controlled • All IP managed and secured • Accessibility only to those who need it • Duplication reduced and cost-savings on storage Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 23 Case Study - Overview o A large financial services company and customer of Viewpointe requested an assessment of its current information governance and recommendations for improvement. o Viewpointe conducted a detailed examination of information governance practices within a sample of the customer’s key business units units. o Diagnostic with quantitative scoring of customer’s records management provided, eDiscovery and PII practices benchmarked against a peer group of financial services companies. o Working with IBM software and support, Viewpointe conducted an automated content assessment against approximately 1.3 million files from SharePoint, File Shares and email. Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 242012 Managing Electronic Records Conference 5.8
  9. 9. Cohasset Associates, Inc. NOTES Case Study – Tools Used Content Assessment tools include: • Records Management/ eDiscovery diagnostic tool • IBM Content Analytics (ICA) and IBM Classification Module along with Viewpointe’s tuned knowledge base • Templates for records retention schedules, records management policy and procedures, as Sample Record Retention Schedule needed Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 25 Case Study – Content Analytics & Classification Process o ICA was used against unstructured documents as part of the process to: • Help identify credit card, account and phone numbers, addresses and monetary amounts. • Match documents against an existing taxonomy, creating a Windows Explorer hierarchical view of the documents. • Examine documents that didn’t fall into an existing taxonomy. g y o Used IBM Classification Module to match documents to existing document retention categories; refined classification categories and rules, as needed. o Compared document dates against defined document-retention rules by category to determine over-retention amounts. o Analyzed exact and near-exact duplicate amounts to determine storage inefficiencies. Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 26 Content Analytics - Exposing Sensitive data Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 277 22012 Managing Electronic Records Conference 5.9
  10. 10. Cohasset Associates, Inc. NOTES Auto-Classification – Proposing Taxonomy Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 28 Content Analytics - Detecting Near Duplicates Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 29 Enabling Collection 1 2 3 Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 300 32012 Managing Electronic Records Conference 5.10
  11. 11. Cohasset Associates, Inc. NOTES Case Study – Sample Recommendations 1. Improve decentralized records management governance structure Explicitly extend the structure to electronic records Provide increased centralized oversight (franchise model) Provide representation and assistance from IT Introduce formal accountability measures 2. Complete an inventory of all electronic records • Centralized data map linked to records-retention schedule, p , identifying systems of record and custodians 3. Develop corporate template for electronic records management procedures and training • Can be modified by LOBs as needed; gives them a ‘quick start’ and identifies baseline requirements and knowledge 4. Develop and implement standard electronic records management controls, KPIs and audit procedures to monitor compliance and measure business benefits Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 31 OnPointe Case Study – Initial Recommendations 5. Implement an electronic records management solution for structured and unstructured records • Phase 1 with select core LOBs and repositories/applications • Develop a plan to grow in phases until 20 percent of the systems are covered 6. Develop a more streamlined records-retention schedule p • Automate classification/declaration, active/inactive management and disposition workflow • Move toward a ‘big bucket’ retention schedule that takes into account the finer grained search and automated classification 7. Reduce backlog of electronic records • Make use of the new structure and tools to reduce duplication and over-retention • If required, incorporate legal hold/eDiscovery of otherwise over- retained records for legal preservation purposes Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 32 Viewpointe Content Assessment: Sample Results Content assessment helps determine document types, document aging, conformance with customer retention rules, duplication of information and potential PII risks. Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 332012 Managing Electronic Records Conference 5.11
  12. 12. Cohasset Associates, Inc. NOTES Content Assessment Benefits – In Summary o Insight • identification and understanding of your information landscape and content in context • make decisions based on content value and get started today • understand your information governance readiness, benchmarked against industry best practices and peers; plan to meet your goals o Cost Reduction • retire legacy systems / repositories quickly • reduce storage requirements and adjust tiering strategies for immediate gains o Risk Reduction, Compliance and Litigation Readiness • the identification of unknown risk or compliance gaps • prioritize areas of focus based on need for remediation • defensibly dispose of data debris or ROT Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 34 Q&A Kristi Perdue, erms Director, Product Marketing, OnPointe Services Viewpointe, LLC kristi.perdue@viewpointe.com Viewpointe Proprietary & Confidential Information. Copyright Viewpointe 2012. All Rights Reserved. 352012 Managing Electronic Records Conference 5.12

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