Dr. Stephen Hawking stated that one can theoretically pull data out of a black hole, but does that mean you should store your data in the most efficient storage device in the universe?
Back to a more earthly reality - Today, all we hear about is “infinite cloud storage” and how people are throwing everything and the kitchen sink online "because they can”. However, this data hoarding doesn’t necessarily help in the world of business content storage, just like the black hole scenario. Proper data disposal is a critical piece of information governance that should not be overlooked.
While storage is cheap and getting cheaper all the time, mathematically speaking, storage costs are not declining at a rate anywhere close to the exponential rate that new information is growing, according to information preservation researcher and Stanford University Professor Dr. David Rosenthal. In his blog he states that if we were to keep every piece of data forever, even in the cheapest cloud storage available and based on current growth rate, it would consume the 100% of the world’s GWP (gross world product) cost by 2018!
This means that no matter how cheap storage becomes, it will never be cheap enough to justify storing everything mindlessly. Not to mention as discussed in a previous blog article, if your organization ever needs to undergo eDiscovery, this mismanaged data becomes a nightmare.
Proper data disposal is as important now as it's ever been. Although storage space is not as big of a concern, the legal and financial costs of large, unorganized data is increasing every day. Business simply cannot afford to be caught without proper records management and a up-to-date information governance strategy.
Not sure where to start? See below for how RecordLion can help.