Fluent Essays

Discussion 1: Digital Archival Word count: 300+ Chapter 17 – Long-Term Digital Preservation  Chapter 18 – Maintaining an Information Governance Program and Culture of Compliance Digital preservation can be defined as the long-term, error-free storage of digital information, with means for retrieval and interpretation, for the entire time span the information is required to be retained.  Though this assessment holds true to the authors, business organizations continue to face significant challenges in meeting their LTDP needs, especially those organizations whose primary mission is to preserve and provide access to permanent records. Looking at your identified industry for your paper, what considerations would have to be made in developing a long-term archival plan for a company within that industry? Remember to cite your sources. Share an applicable personal experience
. Provide an outside source that applies to the topic, along with additional information about the topic or the source (please cite properly in APA)
*  At least one scholarly source should be used in the discussion. Be sure to use information from your readings. Use proper citations and references in your post. Discussion 2: Reflection Activity Word count: 300+ During this semester, we examined several areas of governance and ways in which governance models are applied and regulated by governments and industry since you have already examined several research articles, choose an interesting topic on governance models, frameworks, regulations, etc.  Here are some pointers that will help critically evaluate some viable topics.• Is the topic attainable for a first-time dissertation student?  • Is the problem rooted in the literature?  • Is the research empirical, i.e., is there a survey, is there an interview guide, has the data been analyzed via some statistical tool?  • Is there a theoretical model or framework discussed?  Discuss the topic, the problem the model has been used in the research, and any present findings. Portfolio project:  Attached is the document for reference on what is already completed.  Please make sure to fill in the pieces that are required in the below description. No. of pages: 2 (for 2 and 5 points listed below) The entire milestone should be a minimum of 2 pages with 10 peer-reviewed scholarly articles.   You must include at least one figure or table. These must be of your own creation. Do not copy from other sources.  Expectations are that it will be a scholarly work, using largely peer-reviewed resources, formatted to APA 7 style. Grammar, spelling, and punctuation are significantly weighted.   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 customers. 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.       Part3:  This is the final part of the portfolio project. Please include the below sections:              1. Executive Summary (Abstract) - beginning of the project ie; after title page.              2. Introduction - COMPLETED              3. Annotated Bibliography  and  Literature review   - COMPLETED              4. Program and technology recommendations, including:                        a. Metrics       b. Data that matters to the executives in that industry, the roles for those executives, and some methods for getting this data into their hands.       c. Regulatory, security, and privacy compliance expectations for your company       d. Email and social media strategy       e. Cloud Computing strategy 5. Conclusion Textbook: Title: Information Governance, ISBN: 9781118421017 Authors: Robert F. Smallwood Publisher: John Wiley & Sons Publication Date: 2014-03-28   Note: plagiarism check required, APA7 format, include References, within 8hrs This post has 3 assignments. Please provide answers in separate documents. Running head: PORTFOLIO PROJECT 1 PORTFOLIO PROJECT 2 Portfolio Project Name Institution Introduction The exponential growth in the amount of information generated, analyzed, and stored in the banking sector has led to the need for establishing a dedicated information governance program. This portfolio project is a proposal for the implementation of information governance program in a bank. The banking sector has been collecting vast amount of data which is stored either in hardcopies or electronic forms. Customer data stored in rational databases has been experiencing challenges due to lack of administration which compromises data integrity issues. The company has been experiencing duplication of customer data due to lack of administration. The company also lacks policies that can be used to address the issue of handling customer and business data. The company is interested in utilizing the social media in leveraging its marketing power but it lacks the legal issues and policies needed. The bank should consider developing and implement the information governance program which will facilitate numerous benefits to the business and customers. Information governance will enable the company to comply with existing laws and avoid litigation activities. The banks will be in a position to obtain tangible cost saving and storage utilization since unnecessary data will be eliminated from the system (Najjar, Alharbi, & Fasihuddin, 2020). The information governance program should be able to identify information that is valuable and determine storage media that will be required in managing and processing the data. The company should develop and implement effective information governance program that will promote business agility as well as profitability. Information governance program will enable the company to understand the value of collected data and enable the company to set in place procedures and processed to access it securely when required (Faria, Macada, & KUmar, 2013). Thus, the program will enable the company to turn the generated date into valuable information for the business since information governance will set procedures and policies that allow secure access to authorized persons and ensure compliance with existing regulation. Information governance will also facilitate cost reduction of information administration and storage. The program will enable the company to have few version of information and develop an automated deletion and archival policy that will save the company’s data storage and IT Infrastructure (Wingard, 2021). Some of the information many not be essential to the company yet it is still stored and consuming space. Information governance will help in identifying and eliminating unnecessary data to increase storage and reduce cost. The program will also promote collaboration between the employees, partners and customers. It will create and manage a secure environment to increase collaboration. Information governance will establish policies and procedures that will leverage the collaboration platform to maximize business value and minimize risks. This will increase chance of the company identifying how it can promote its use of social media in leveraging its marketing power. As a result, this paper is a proposal from the implementation of information governance program in the bank. It will discuss the strategies of implementing the information governance in the banking sector. It contains a literature review of existing practices that can be effective in the banking industry. The strategies discussed will be effective in tracking key metrics and data management to mitigate cases of duplicating information. It will also help the company to identify strategies of cleansing and converting data from the legacy to digital format as well as determining the applicability of the data in the business and its stakeholders. The strategy will also ensure compliance with existing regulations to avoid litigation. The project will propose strategies of using the social media, cloud computing, and emails to leverage the marketing power of the bank. The proposal will help the management in identifying key metrics needed to track the performance and risk of the company through the key indicators. Annotated biography du Fresne, A. J. (2020). Can Audits Be an Effective Method to Improve Information Governance Compliance Objectives? (Doctoral dissertation, The University of Findlay). The article explores whether an appraise of the firm’s IG package could be a valuable tool to enhance conformity and program policy goals. The author addresses the slightest prerequisites that must be tackled to meet an organization’s supervisory, legal, and business requirements via procedures and policies to enhance IG. I will draw valuable data for my research since the article gives suggestions on ways a company can use appraising to gauge the effectiveness of an IG program. Laksamana, P. (2018). Impact of social media marketing on purchase intention and brand loyalty: Evidence from Indonesia’s banking industry. International Review of Management and Marketing, 8(1), 13-18. The article reviews how social media marketing impacts brand loyalty and purchasing intention in the banking industry. The author describes how banks have spun to social media to provide information, sell, and foster relationships with their clients. The author investigates whether there is a constructive connection between purchase intention and social media marketing. The article will be valuable in my study since it presents findings on how banks and financial institutions can exploit social media marketing to increase brand loyalty and purchase intention. Manzira, F. M., & Bankole, F. (2018, October). Application of Social Media Analytics in the banking sector to drive growth and sustainability: A proposed integrated framework. In 2018 Open Innovations Conference (OI) (pp. 223-233). IEEE. The article outlines how banks have begun to tap into progressive predictive and prescriptive analytics to obtain insights, oversee high expenses of non-compliance and compliance, including financial risks, thus producing a considerable effect in business operations. The paper is relevant to my study since it offers insights into how banking institutions implement social media analytics to enhance their IG and business operations. 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. The articles authors investigate the interaction of a company’s “big data analytics abilities (BDACs)” and its IG undertakings in structuring innovational abilities. This study is relevant to my research subject since the authors give insights on the impacts of BDAC on innovative business aptitudes. The research used ‘self-reported data, which would result in bias, and the study will be a valuable source of data for my research. S. Earley. (2016). Metrics-Driven Information Governance. IT Professional, 18(2), 17–21. https://doi.org/10.1109/MITP.2016.26 The paper studies the essentiality of IG program metrics. The authors suggest the crucial metrics for an efficient IG program. The writer describes the drivers and benefits of an IG program, including revenue optimization, risk mitigation and cost control. My work will draw from this article on recommendations on IF metrics and the benefits of tacking major performance and risk indicators to accomplish the banking institution IG program. Serrado, J., Pereira, R. F., da Silva, M. M., & Bianchi, I. S. (2020). Information security frameworks for assisting GDPR compliance in the banking industry. Digital Policy, Regulation, and Governance. The paper describes the importance of GDPR implementation that aligns with industries policies and laws, particularly in the banking sector. The authors argue that data could be perceived as the critical asset of companies, and data breaches significantly affect a companys revenues, image, and clients. The paper will be helpful in my work in that it will expand my understanding of various practices that could aid the banking institutions in GDPR applications. Scott, H. S., Campbell, D., & Gulliver, J. (2021). Regulation of Governance & Risk Management: The Intersection of Banking & Technology. Program on International Financial Systems. The article evaluates the regulatory makeup for risk management in banking institutions in the US compared to technology firms. The authors assess the suitable supervisory compositions for cloud service suppliers to banking institutions since banks and financial institutions are augmenting their dependence on cloud computing for their information needs, and efficient management control can securely ease that transition. The paper will help further explain the regulatory guidelines or legal issues that could occur. Tanwar, M., Duggal, R., & Khatri, S. K. (2015, September). Unravelling unstructured data: A wealth of information in big data. In 2015 4th International Conference on Reliability, Infocom Technologies and Optimization (ICRITO)(Trends and Future Directions) (pp. 1-6). IEEE. The authors of this article review the significance of the breakdown of unstructured data alongside structured data in businesses to obtain all-inclusive understandings. The authors outline what big data analytics is and review diverse methods and tactics to analyze unstructured data. The research is helpful in my study as it emphasized the need for appropriate and efficient analytical techniques for knowledge unearthing from vast quantities of assorted data in unstructured layouts. Tyagi, A. (2021). Information Governance Program Implementation and Strategies in Banking Sector. Available at SSRN 3804620. The article presents a suggestion of applying an IG program in the banking industry. The author introduces IG and its application, implementation approaches, and financial services and banking sector issues. The author also discusses best practices for IG system implementation in the banking industry. The article is relevant to my study because it presents strategies for managing data and tracking major metrics and proposes approaches to leverage the marketing influence of cloud computing, social media, and email technologies. Wang, H., Ma, S., Dai, H. N., Imran, M., & Wang, T. (2020). Blockchain-based data privacy management with nudge theory in open banking. Future Generation Computer Systems, 110, 812-823. The paper suggests a novel data privacy management outline centered on blockchain technologies for the financial and banking sector. The authors contend that the present blockchain technologies stances some challenges in ultimately meeting the prerequisites of financial information privacy fortification. To tackle these presented issues, the author proposes the novel privacy management model. This paper is relevant to my work since it expounds on how the banking sector could use blockchain technologies to maintain data integrity and authenticity. Literature review The significance of having an excellent IG program in banking is reinforced because numerous researches have indicated a positive relationship between regulatory compliance and corporate performance and an efficient IG program. (Manzira, (2018). According to Tanwar, (2015), the effect of technology both on products and governance practices has indicated a positive effect on obtaining a competitive sector. This includes the use of social media platforms. Social media platforms generate a vast quantity of big data consisting of structured, semi-structured, and unstructured data, commonly called structural heterogeneity in big data. Only 5\% of data obtained from these platforms is systematized. Information having no specific schema, format or outline is called unstructured data and could be any format including word files, audio, video, PDF files, tweets, emails, and more. Further, the literature indicates that companies need to adopt blockchain solutions to convert the said data into actionable and meaningful insights to exploit and capitalize this unstructured data. (Mikalef, (2020). Social media big data has valuable information that could make a massive distinction to the companys profits if mined entirely. The figure below shows the types of big data that the company will address. The figure below shows the kinds of big data that the company will handle. According to literature by Laksamana, (2018), social media continues to develop and become part of everyday activities for clients, and business has incorporated their marketing movements into social media marketing. Therefore, banks must use up-to-date technology to engage with clients, including social media, which can be opened 24/7 on mobile devices. Subsequently, as a portion of future selling endeavours and one-on-one relations building, social media sells services and products and develops brand loyalty. Manzira, (2018) notes that vast quantities of data produced from social media have increased the need for social media analytics usage in business operations. Banking institutions should begin to tap into progressive predictive and prescriptive analytics to cultivate insights, optimization of business portfolios, managing expenses of non-compliance and compliance, services and products offering, and other practices toward accomplishing maintainable and lucrative growth. Further literature review shows that states that open banking introduces both the openings and challenges to banking institutions across the globe. Because of every nations diverse economic growth level and the interludes amongst fiscal settings maturity, all nations have distinct approaches and regulations concerning privacy fortification of information in financial backgrounds, including GDPR. (Wang, (2020). Blockchain resolutions break the long-standing rules regarding companies authority and trust makeups and ways in which information and records will be generated, overseen, and utilized. Blockchain offers a robust audit trail, thereby enabling transactions to be administered and validated almost instantly. According to Serrado, (2020),” GDPR compliance is not about technology, it is about how it is used.” Whereas blockchain might assist the business in meeting some of the GDPRs prerequisites, including a safety by design, its application might also stance many compliance problems, such as making sure data subjects can apply their rights. A literature review had indicated that data could be perceived as the primary resource for companies, and data breaches significantly affect the companys revenues, image, and clients. According to Tyagi, (2021), companies should apply information security frameworks intended to aid companies to evolve into up-to-date domain exercises. Preceding global research has assumed that the effect of outside monitoring on banks risk is indefinite. However, according to Scott, (2021), “regulations matter for banks risk-taking conditional onboard attributes: board independence, the board size, and board diversity. Except for the capital needs, the market discipline exerted by external monitoring is unable to mitigate the propensity to higher risk-taking by banking institutions.” The significance of tracing IG metrics in the shape of key Indicators and Key Performance has been indicated to have a positive relationship with the accomplishment of a company’s IG program in several empirical researches. (S. Earley, (2016). The literature review shows that the metric-driven IG program encourages cross-functional collaboration”, thus making the program more efficient. The literature review further indicates that the most significant difficulty for the company will be how to establish which data to utilize and which to eliminate based on its worth. However, more companies are concerned about the consequences that social media data usage could incur to them. According to Mikalef, (2020),” the company should understand the data threats and worth so that a distinct strategy could be derived to manage social media communication to regulate disclosure to both consequences and brand/customer forfeitures. The company should identify the business worth of the data, create accountability for the threat and manage identity, which forms the foundation for an efficient IG framework. References du Fresne, A. J. (2020). Can Audits Be an Effective Method to Improve Information Governance Compliance Objectives? (Doctoral dissertation, The University of Findlay). Faria, F., Macada, A., & KUmar, K. (2013). Information Governance in the Banking Industry. 46th Hawaii International Conference on System Sciences (pp. 4436-4446). Hawaii: University of Hawaii . Laksamana, P. (2018). Impact of social media marketing on purchase intention and brand loyalty: Evidence from Indonesia’s banking industry. International Review of Management and Marketing, 8(1), 13-18. Manzira, F. M., & Bankole, F. (2018, October). Application of Social Media Analytics in the banking sector to drive growth and sustainability: A proposed integrated framework. In 2018 Open Innovations Conference (OI) (pp. 223-233). IEEE. 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. Najjar, W., Alharbi, S., & Fasihuddin, H. (2020). Challenges of IT Governance in the Financial Sector: A Study from Saudi Arabia. TEM jornal 9(4), 1580-1588. S. Earley. (2016). Metrics-Driven Information Governance. IT Professional, 18(2), 17–21. https://doi.org/10.1109/MITP.2016.26 Serrado, J., Pereira, R. F., da Silva, M. M., & Bianchi, I. S. (2020). Information security frameworks for assisting GDPR compliance in the banking industry. Digital Policy, Regulation, and Governance. Scott, H. S., Campbell, D., & Gulliver, J. (2021). Regulation of Governance & Risk Management: The Intersection of Banking & Technology. Program on International Financial Systems. Tanwar, M., Duggal, R., & Khatri, S. K. (2015, September). Unravelling unstructured data: A wealth of information in big data. In 2015 4th International Conference on Reliability, Infocom Technologies and Optimization (ICRITO)(Trends and Future Directions) (pp. 1-6). IEEE. Tyagi, A. (2021). Information Governance Program Implementation and Strategies in Banking Sector. Available at SSRN 3804620. Wang, H., Ma, S., Dai, H. N., Imran, M., & Wang, T. (2020). Blockchain-based data privacy management with nudge theory in open banking. Future Generation Computer Systems, 110, 812-823. Wingard, L. (2021). Banking Industry Challenges — And How You Can Overcome Them. Retrieved September 8, 2021, from Hitachi Solutions: https://global.hitachi-solutions.com/blog/top-10-challenges-banking-financial-organizations-can-overcome