Quiz time. Which of these things actually exist?
Unicorns. Jackalopes. Bigfoot. The Vegetable Lamb of Tartary.
Trick question. None of them do, but what is real about them is that they’re all based on a superficial kernel of truth. Rabbits with cancerous head growths gave the appearance of “horns,” and fluffy plants atop multiple stalks hinted at the form of a sheep. And sometimes ungulates sustain injuries that result in a single horn or antler. In a world before Wikipedia and smartphone cameras, it was understandable how mythological legends could be spawned from a couple of mistaken details.
Perhaps you should have spent a little less time daydreaming in high school biology. Anyway, how does this all relate to data management?
Superficial appearances. The problem is that they often lead to a lot of incorrect (yet enduring) conclusions. When was the last time you tried to calculate ROI for your organization’s information governance initiatives? When many businesses try, they only gather a few short-term numbers that don’t seem to line up with the perceived cost of governance. So true ROI seems to become a sort of mythical creature, based on a small handful of details that may or may not be entirely true.
You’re not alone in your frustration. We have a lot of discussions with prospective clients about the difficulty they face in accurately estimating the long-term ROI of information governance. Often ROI suffers from mistaken identity, with only a few superficial details taken into account. In Fortune 500 organizations, where there is a major focus on quarterly expenses and performance, it can be even more difficult as immediate costs loom larger than gradual gain.
Our upcoming webinar with the Organization of Legal Professionals (OLP) tackles this exact issue. Titled “Squeezing Blood from a Stone? Calculating a Real ROI for Information Governance,” the webinar has a star-studded list of top IG professionals discussing ways that they’ve tackled ROI calculations in their own enterprise environments.
The webinar will be on Tuesday, Oct 27 10:00 AM - 11:00 AM, PDT.
We’ll be covering these topics:
- Real-world costs of current information management inefficiencies
- Major factors potentially undervalued by current ROI calculations
- Forgotten stakeholders that may be left out of current ROI discussions
- How to advocate for a strategic IG plan that benefits everyone
You can register for the webinar here. ZL’s Associate General Counsel, Linda Sharp, will be moderating a panel with guests from UBS, PwC, and Kaizen.
Stop chasing jackalopes. There’s a better – and more accurate – way to calculate ROI for Information Governance.