Recently, in a discussion I was having with a colleague, they got a basic concept: it does NOT make sense to keep a large amount of information when it does NOT make them money.
Corporations today have tons of information and they do not know why they are even keeping the information. Sometimes, it is because they are in the midst of some potentially very costly litigation.
While this seems to make sense, it presents a great deal of complex problems. One may ask why? The simple reason is that everyone knows that paper is made is at a paper mill and is stored in a physical location, or in as many locations as copies of the paper instrument are created. In the electronic world, a fundamental knowledge gap exists and few legal professionals can answer this in the digital realm. This leaves organizations with policies that do not synchronize policies with technologies, solutions that store every digital scrap of information or the converse, and a slew of other problems. Test it yourself: conduct a simple survey to see if the lawyers, compliance officers, or records managers can answer this seemingly simple question?
The real solution is to bridge this gap and work with specialists to answer these questions, re-work your policies, and deploy technology.