Original Post From Rick Robinson
Information is not static. On the other hand, the ways that information is used and preserved in an organization are not completely chaotic. Information has a lifecycle, which invites and requires information lifecycle management. Information is created either in a single moment (such as a new account number), or through a development process (say, a working document).
Once created, information usually remains in active use for some period of time. During this time, it must be readily accessible by the people who work with it. Eventually, some information can be discarded. Other information must be carefully archived and saved. It may never be accessed again, but if needed, it must be accessible, though usually this access need not be immediate.
The Art of Keeping Track
Because the creation, usage, storage, and (sometimes) deletion of information has regular patterns, information lifecycle management is both possible and necessary.
Organizations can end up paying a heavy price, financially and even legally, for failing to preserve information that should have been saved for compliance or other reasons. On the other hand, costly, high-speed, real-time access technologies are not necessary for archived information that need only be made available on rare occasions.
To meet the needs of managing the information lifecycle, IBM has developed an integrated strategy model and toolkit for getting and keeping a handle on information. This strategy model will help midsize firms to develop best-practice policies for managing their information lifecycle. It allows these firms to simplify their information management and storage practices.
Crucially, the combined strategy and toolkit supports regulatory compliance and risk management. This is a major consideration for firms in handling information that is no longer in regular, active use, but must be safely archived and kept available in case it is called for.
And, in the big picture, effective management of the information lifecycle allows firms to get the most value out of their information.
For many if not most midsize firms, information is the single most valuable asset they have. This is true not just for firms in the information industry - manufacturing firms rely on physical process information, and service firms are dependent on logistic process information. Furthermore, all firms rely on supplier and customer information and are responsible for legal and compliance information.
IT departments and managers at these midsize firms face an ongoing information management challenge. Insights and resources are available from IBM to help meet that challenge.
AltaFlux Corporation is a global HCM cloud consulting partner based in Troy, Michigan. We empower organizations by streamlining, transforming, and optimizing key human capital management (HCM) processes with industry-leading HCM cloud solutions like SAP SuccessFactors, Benefitfocus, WorkForce Software and Dell Boomi.