Retail industry ?For milestone , you will create the literature review (2-3 pages) of your portfolio project. Here are some resources to complete a literature revie

MILESTONE II 2

Literature Review

The problem of data overload has become a major issue in organizations and is thus, one of the major problems affecting the businesses today. The digital activities are able to generate an increasing amount of data which requires proper management and storage. These amounts of data are expected to keep increasing as more technological advancement continue to be adopted in businesses. Thus, the organizations have a duty of ensuring they maximize the value of the data while at the same time preventing the risks associated with the same (Tse et al., 2018). The business leaders understand the importance of prioritizing data. However, the risks associated with the same have led to underutilization of the digital assets. These assets are also inadequately governed and unprotected. Thus, the importance of information governance in organizations is a priority.

Information governance processes are used to manage the information records which includes the customer information and the intellectual property. Thus, the information governance department provides the right leadership in the companies in order to enhance the policy creation on how to handle the corporate information assets. However, one aspect that remains important in information governance is the government regulations that are necessary in regulating the data. The policies such as the Sarbanes-Oxley Act of 2002 are meant to standardize the management practices in the public companies in the United States (Shu & Jahankhani, 2017). Thus, it requires sufficient management and implementation of the controls over all financial records to enhance the security of data. The Gramm-Leach-Bliley Act applies to the financial institutions and requires them to protect and secure the financial records.

Information governance in organizations has for many years faced challenges because it has been viewed as a legal requirement. However, apart from enhancing the regulatory adherence, information governance focuses on the managing the sensitive information in the organizations. The cybercriminals have devised means of using data against the organizations. The use of ransomwares makes data breaches more expensive for the organizations. According to Rialti et al. (2019), the evolving discipline of information governance has enhanced the organizational abilities to protect the sensitive data from falling in the wrong hands.

Adaptable information governance makes it possible for the organization to innovate without increasingly attracting more risks. The fast changing enterprise technology and the accelerating datasphere means that there are new risks and opportunities for the organizations. Thus, the organizations need to manage both the risks and opportunities to enhance the benefits of data in the long run.

The major aspects that spur the growth of information governance is the regulatory compliance and the litigation activities. However, there are several benefits that arise when an organization implements the information governance programmes. According to Shvartzshnaider et al. (2022), the information governance results to cost savings on the IT and information storage and utilization. Information governance ensures the systems and the storage media are not required in the process of managing the data.

In et al., (2018) explained that information governance turn data into valuable business information. Data is only valuable to the organization when it is safely stored and it can be accessed by the right people. Thus, information governance ensures that the businesses settles on the policies and procedures that enhance the security of the information and that those that do not need it are removed from the access within the shortest time possible. Mikalef et al. (2020) explained that information governance reduces the cost of discovery and litigation. It ensures that there is only appropriate information that can be easily accessed saving on time and the management of the litigation costs by ensuring the court cases are completed within a fraction of the time, manpower and the costs.

References

Bestman, A. E., & Wogboroma, H. (2016). The Efficacy of the “Big Data” Syndrome and Organizational Information Governance. Journal of Information Engineering and Applications, 6(4), 31-42.

Daneshmandnia, A. (2019). The influence of organizational culture on information governance effectiveness. Records Management Journal.

In, J., Bradley, R., Bichescu, B. C., & Autry, C. W. (2018). Supply chain information governance: Toward a conceptual framework. The International Journal of Logistics Management. https://www.emerald.com/insight/content/doi/10.1108/IJLM-05-2017-0132/full/html

Mikalef, P., Boura, M., Lekakos, G., & Krogstie, J. (2020). The role of information governance in big data analytics driven innovation. Information & Management, 57(7), 103361. https://www.sciencedirect.com/science/article/pii/S0378720620302998

Mukherjee, S. (2019). Information Governance for the Implementation of Cloud Computing. Available at SSRN 3405102. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3405102

Reddy, S., Allan, S., Coghlan, S., & Cooper, P. (2020). A governance model for the application of AI in health care. Journal of the American Medical Informatics Association, 27(3), 491-497.

Rialti, R., Zollo, L., Ferraris, A., & Alon, I. (2019). Big data analytics capabilities and performance: Evidence from a moderated multi-mediation model. Technological Forecasting and Social Change, 149, 119781. https://www.sciencedirect.com/science/article/abs/pii/S0040162519311242

Shu, I. N., & Jahankhani, H. (2017, November). The Impact of the new European General Data Protection Regulation (GDPR) on the Information Governance Toolkit in Health and Social care with special reference to Primary care in England. In 2017 Cybersecurity and Cyberforensics Conference (CCC) (pp. 31-37). IEEE.

Shvartzshnaider, Y., Sanfilippo, M. R., & Apthorpe, N. (2022). GKC‐CI: A unifying framework for contextual norms and information governance. Journal of the Association for Information Science and Technology. https://asistdl.onlinelibrary.wiley.com/doi/abs/10.1002/asi.24633

Tse, D., Chow, C. K., Ly, T. P., Tong, C. Y., & Tam, K. W. (2018, August). The challenges of big data governance in healthcare. In 2018 17th IEEE International Conference On Trust, Security And Privacy In Computing And Communications/12th IEEE International Conference On Big Data Science And Engineering (TrustCom/BigDataSE) (pp. 1632-1636). IEEE.

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Scenario:

You have recently been hired as a Chief Information Governance Officer (CIGO) at a large company (You may choose your industry). This is a newly created position and department within the organization that was founded on the need to coordinate all areas of the business and to provide governance of the information. You will need to hire for all positions within your new department.

The company has been in business for more than 50 years and in this time has collected vast amounts of data. Much of this data has been stored in hard copy format in filing cabinets at an offsite location but in recent times, collected business data is in electronic format stored in file shares. Customer data is being stored in a relational database, but the lack of administration has caused data integrity issues such as duplication. There are currently no policies in place to address the handling of data, business or customer. The company also desires to leverage the marketing power of social media, but has no knowledge of the types of policies or legal issues they would need to consider. You will also need to propose relevant metrics that should be collected to ensure that the information governance program is effective.

The CEO and Board of Directors have tasked you to develop a proposal (paper) that will give them the knowledge needed to make informed decisions on an enterprise-wide Information Governance program, addressing (at a minimum) all of these issues, for the company.

Requirements:

The paper should include at a minimum of the following sections:

a. Title page

b. Executive Summary (Abstract)

c. Body

i. Introduction (including industry discussion – 1-2 pages)

ii. Annotated Bibliography (2-3 pages)

iii. Literature review (2-3 pages)

iv. Program and technology recommendations, including:

1. Metrics

2. Data that matters to the executives in that industry, the roles for those executives, and some methods for getting this data into their hands.

3. Regulatory, security, and privacy compliance expectations for your company

4. Email and social media strategy

5. Cloud Computing strategy

d. Conclusion

e. References

2. You must include at least two figures or tables. These must be of your own creation. Do not copy from other sources.

3. Must cite at least 10 references and 5 must be from peer reviewed scholarly journals (accessible from the UC Library).

4. This paper should be in proper APA format and avoid plagiarism when paraphrasing content. It should be a minimum of 8 pages in length (double-spaced), excluding the title page and references.

Milestones:

· Milestone 1: Introduction Section – A 1-2 page paper describing the industry chosen and potential resources to be used.

· Milestone 2: Develop a full annotated bibliography (2-3 pages).

· Milestone 3: Develop the literature review (2-3 pages).

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