Alvarez & Marsal Identifies Key Reasons for Data Cleanup Failures
Alvarez & Marsal's analysis highlights that data cleanup initiatives often fail due to a lack of both individual and organizational buy-in.
Consulting firm Alvarez & Marsal has released the second part of its analysis examining why data cleanup efforts frequently fall short. The report identifies two primary obstacles: individual buy-in and organizational buy-in.
Individual buy-in is described as the personal benefit each stakeholder perceives from engaging in information governance initiatives. This concept is linked to recent regulatory changes, such as those from the New York Department of Financial Services (NYDFS), which require certification from both the Chief Information Security Officer (CISO) and a senior executive officer, emphasizing personal accountability.
Organizational buy-in involves aligning proposed information governance changes with the company's overall strategic goals. Alvarez & Marsal suggests that instead of directly connecting information governance to high-level corporate strategies, it should be linked to operational objectives that support business unit strategies. This approach can improve risk management and ensure regulatory compliance.
Achieving individual buy-in is considered easier but requires understanding each person's definition of personal success and motivations. Ignoring these factors can lead to failure, even if the core ideas are sound.
Securing organizational buy-in is more challenging, requiring the integration of information governance within the company's strategic vision. A practical method is demonstrating how data cleanup directly contributes to operational goals like revenue growth or increased market share. Additionally, reminding board members of their personal liability for regulatory non-compliance can foster commitment.