Data is the lifeblood of modern digital businesses. It is literally the most important asset for many organizations. Yet, few enterprises actually value and treat data as an asset equal to their physical inventory, cash, or employees. As a result, companies don’t know the financial risks if their data is lost, stolen or found non-compliant with privacy laws. Nor can they enact data handling and security policies commensurate with those financial risks.
The emerging discipline of Infonomics provides business leaders a way to understand and value their information and create security policies that make fiscal sense. We believe that this Gartner research report, co-written by Gartner VP and creator of the term Infonomics, Douglas Laney, gives CISOs and other security and risk management leaders the tools to develop a financial risk assessment model for your data using the theory of Infonomics.
Key takeaways include how to:
Apply the Gartner data security governance framework to identify business risks that arise from security, regulatory or processing incidents;
Use Infonomics to evaluate the short- and long-term financial liabilities that result from business risks associated with data monetization;
Incorporate decision matrices as part of the Gartner financial data risk assessment for each dataset to guide appropriate investment, management or security mitigation actions.
Today’s businesses need to start treating their data like a real asset, and that means understanding the financial risks around their data. Download this indispensable report as the first step towards protecting your organization in the age of Infonomics.