In additional, in such a case all electronic data under your custody will become part of the investigations or litigations. The more data your have, the higher the cost. This is what we call the Dark Side of you Big Data! For this reason, risk analysis programs should also include the assessment of the quantity and broad content of legacy data
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The Dark Side of Big Data The ongoing information explosion is reaching epic proportions and has earned its own name: Big Data . Big Data encompasses both challenges and opportunities
1 Comment - We are seeing an increase in businesses seeking specialized skills to help address challenges that arose with the era of big data. The HPCC Systems platform from LexisNexis helps to fill this gap by allowing data analysts themselves to own the complete data lifecycle. Designed by data scientists, ECL is a declarative programming language used to express data algorithms across the entire HPCC platform. Their built-in analytics libraries for Machine Learning and BI integration provide a complete integrated solution from data ingestion and data processing to data delivery
Enterprises have tremendous concerns about storing business data outside their own walls because it means relinquishing control – control of information, user access, authentication, and data exposure (whether intentional or accidental) of sensitive personally identifiable information, classified information, or otherwise non-compliant content. So you accidentally let someone take a peek at the wrong data – how much harm can that data breach possibly do?
Although storing 250GB of data can cost less than $250, hiring an external firm to process and review this data for e-discovery can cost up to $1 million...Federal Rules of Civil Procedure) about what data must be kept and for how long
Create (as good as possible) a data map of all of your internally and externally stored data. 2...There is much less relevant data than you think! 5
These days, almost all information is electronically stored, we do not see or notice the data chaos, so we care less, until we get involved in active litigation or are placed under regulatory investigation. Therefore when considering a legacy data clean up, creating a filing plan is a good starting point
This is what is happening with your data! Suppressing the Effects of Exponential Growth We cannot take away the ultimate effects of exponential growth, but by taking early actions, we can suppress the painful effects by trying to stay on the first half of the chessboard. In the following graph, the impact on early legacy data clean-up is shown. From the graph, it is very clear, that the earlier one starts deleting irrelevant data, the more one benefits (exponentially) from these efforts! So, in time, legacy data clean-up pays itself back with an exponential return of investment!
When handling this volume of data, plain full-text search simply cannot effectively support finding, analyzing, reviewing and organizing all potentially relevant documents
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