Data Governance for the Internet of Things

More companies are joining an interconnected web of devices connected to the Internet, known as the Internet of Things (IoT). Companies need to develop information governance strategies to accommodate these emerging information types, and also prepare for the regulatory and compliance implications of data that moves between devices and systems, and across borders. Companies that implement sound data governance now and conduct a data audit and inventory will be best prepared for audits.

Establishing a data governance committee (DGC) is the first step to addressing these risks. The DGC’s primary task is to ensure responsibility, accountability, defensibility and sustainability of data practices. The framework for effective data governance planning contemplates the personnel, technology, processes, policies and procedures necessary to ensure the preservation, availability, security, confidentiality and usability of the company’s data.

A DGC also encourages strategic thinking and the creation of opportunities for appropriate use of data within the company. The DGC should focus on establishing data standards for privacy

and information security, records management, employee data, trade secret and intellectual property protection, e-discovery and litigation readiness, and vendor management. Such policies must include a comprehensive set of rules, policies and procedures governing the use and disposal of the company’s data.

Institutional infrastructure in the form of a DGC that formalizes the necessary communication, cooperation and ownership challenges presented by data management has the potential to bring long-term value to the company.