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At Iron Mountain, our Electronic Content Classification and Data Remediation service leverages a range of platforms for classifying and remediating both structured and unstructured data stored on-premise, in the cloud or in hybrid environments.
You may have a lot of dark, redundant, obsolete and trivial (ROT) data sitting in file shares, SharePoint sites, email, databases, tapes and other repositories. Much of this information is not managed properly and represents risk to the business (such as unencrypted PII and new US and European requirements for timely disposition of personal information). Dark data prevents informed business decisions. It also burdens big data and AI programs because 60-80% of the effort is data preparation including ROT cleanup. ROT also affects IT operations such as migration to the cloud and backup. In short, you need to know what you have, where it is and manage it accordingly.
You may have production systems with databases that have grown so big they have become slow, impacting end user productivity and affecting system backups which are taking too long. Overstuffed databases can trigger system outages and be the cause of lengthy system restores that are disruptive to business operations and customer service.
You may be running more applications than you want to because of past acquisitions or moving to new platforms and leaving the old data behind. These systems are expensive to maintain and should ideally be turned off. Before you do so, you need to determine what to do with the legacy data in the database, so it can be accessed and managed in context of its "record of business."
Increased cost of finding essential information, as structured and unstructured data continues to reside in multiple locations, with a high percentage of duplicates and obsolete content.
Increased sensitive data stored over many years has resulted in a compilation of unknown data which may contain personally identifiable information, passwords, trade secrets or other valuable business content.
Increased litigation risk due to distributed, non-required information is problematic because it increases the cost and risk of litigation.
Over-retention of Information impacts your IT budget, despite falling costs of storage, and may have dire compliance consequences. Because so much of this data is dark, it carries inherent risk, elevated cost of storage and lost opportunity of information assets that could be put to use to accelerate revenue.
Decreased backup efficiency because your business has grown and so has activity within production systems. A lack of active systems archiving content within them is causing them to slow down, extend backup times and increase costs.
More difficult application portfolio management because your business has amassed many applications over time and undergone changes to new platforms, including taking applications to the cloud. However, decommissioning legacy applications is still lacking. These orphaned applications suck up hardware and software maintenance costs, data center energy and HVAC resources.
At Iron Mountain, our Electronic Content Classification and Data Remediation service leverages a range of platforms for classifying and remediating both structured and unstructured data stored on-premise, in the cloud or in hybrid environments. Our skills and tools are used in a range of use cases including:
Iron Mountain organizes content according to your record retention schedule, which enables defensible disposition.
Our experienced staff of consultants, data scientists and lawyers can work with your organization to help configure, develop, and apply methodology over legacy and day-forward content. You’ll get help normalizing and updating metadata, making it more consistent and improving accessibility for both structured and unstructured data.
A top 50 insurance company embarked on an unstructured content remediation project to:
At this insurance company:
A leading brokerage firm required a solution to manage structured data objects as records in compliance with sections 17a3 and 17a4 of the Broker Dealer Books and Records Act.
The firm has many Broker Dealer and SWAP Dealer applications in use across various areas of the business. These applications were hosted externally and behind the corporate firewall. The challenge was identifying the records from the structured database applications along with any related supporting documents that may be stored in multiple application repositories and ingesting them into a 17a Records Compliant system.
A database archiving tool was used to map the record definitions via schema mapping in a business workflow to create the relevant records from the database along with all supporting financial trade documents. The business flow then stored the metadata and attached documents in a WORM compliant format within Enterprise Content Management platform for management by the client.
This enabled the firm to centrally manage structured and unstructured content using a centralized 17a Records compliant solution. The corporate file plan along with relevant retention periods now have Broker Deal and SWAP Dealer records under management meeting the SEC and FINRA compliance regulations. The firm was also able to consolidate and retire a sizable amount of data they were paying various vendors to host in external applications. This resulted in significant cost savings as some of the historic records were well beyond the corporate retention periods and eligible for responsible disposition.
A FINRA audit was done and the firm received no warnings or penalty citations. This met the overall goal of the project bringing this firm into 17a Records Compliance with structured and unstructured content.
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