Bridging the Gap between Business and IT: An Information Governance Perspective in the Banking Industry - Data Governance: Creating Value from Information Assets - page 237

TABLE 9.3
Units for Computer Data Storage

Bit
(b)

Byte
(B)

Kilobyte
(KB)

Megabyte
(MB)

Gigabyte
(GB)

Terabyte
(TB)

Petabyte
(PB)

Exabyte
(EB)

Zettabyte
(ZB)

1 or 0 8 bits 1,000 bytes 1,000 KB 1,000 MB 1,000 GB 1,000 TB 1,000 PB 1,000 EB

it's growing exponentially.” See Table 9.3 to understand in a simplified way
the units used for computer data storage.
So, on one side, there is cost of the storage and all the processes involved
with the retention and recovery of information. More importantly, on the
other side is the capability of the enterprise to use information effectively,
and evidently, with few exceptions, the bulk of them are not fully prepared
for this. If a company is prepared, it should be able to, at least, answer the
basic question proposed by Kooper, Maes, and Lindgreen (2011): “What
information do we need, how do we make use of it and who is responsible
for it?” Certainly, a well-implemented IGF will help banks to answer not
only these basic questions, but other important questions related to the
“information” resource within the organization.
Another interesting result is related to the factors consumerization and
mobility. Some banks in the United States see the consumerization phe-
nomena as an opportunity; they know it's not an easy decision, mainly
for security reasons, but it is inevitable. In the words of an experienced
American executive: “In my life, I've learned not only to listen to what
people say, but also to watch what people do, but mainly watch where they
are putting their money. So, that's a place to spend a lot of money, on this
whole notion of mobility and consumerization.”
Bridging the gap between business and IT in the banking industry
through an IGF offers a unique and shared perspective. Such approach
permits the use of a common framework across the entire enterprise. The
widespread knowledge of IGF's factors and dimensions helps the enter-
prise in the task of aligning the interests of business and IT. The set of IGF
factors covers a wide scope that can establish the use of good informa-
tion governance practices, which improves the quality of information and
facilitates the decision processes.
The goal for every bank is to select which factors should be considered
in its IGF and work on their further development. In this way, it is possible
to build an IG program addressing all relevant aspects related to the infor-
mation domain in the banking business. The comments made by top bank