The most expensive compliance costs associated with the storage of unstructured information include e-discovery, access governance and internal auditing activities. Together, these activities cost businesses over $1.9 million annually on average.
"Evidence suggests that companies deploying enabling technologies that reduce the complexity of file management can decrease the overall compliance costs associated with the storage of unstructured information," said Larry Ponemon, chairman of the Ponemon Institute.
Automated file management systems to control data access based on identity are one type of system that can help bring down costs, he said. With social media playing an ever more important role in helping to run companies, the increase in unstructured data is set to spiral.
But too many organisations do not have comprehensive compliance policies in place for its use, according to analyst house Gartner. By the end of 2013, the analyst house, half of all companies will have been asked to produce material from social media websites for e-discovery needs. So enterprises need an overall governance strategy for all applications and information used on social media platforms, it said.