Many organizations think they are taking the right approach to information overload: buy ever-cheaper storage solutions, lower compliance risk by saving all data and focus more resources on solutions for turning all this data into actionable intelligence. Unfortunately, storing and managing data stores that only get bigger with time is very expensive, and instead of reducing risk, it dramatically increases costs and risks associated with e-discovery.
According to Gartner, IT shops already spend between 2 and 3 percent of revenues on data management, which can add up to hundreds of thousands or even millions of dollars each year. And according to IDC, corporate data volumes grew by about 50 percent last year. The fact is, no matter how inexpensive storage devices become, the total cost of managing data will continue to grow. And while some data must be retained for its business, legal or compliance value, retaining data that has no such value increases the complexity and cost of every hold issued by the legal department in response to an e-discovery request.
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