Exploring information lifecycle management in the Nigerian financial sector: A case study

This research paper presents theoretical and practical approaches at how the banking sector manages financial information, with emphasis being placed on financial service operations of cheque processing and securities trading. The banking sector was identified as it is presently the most vibrant and emerging sector in the financial services in Nigeria, which mentioned in the Financial Times. The banking sector has been the driving force behind Nigeria’s equity, which is in access of $3.3bn in equity capital markets a transaction in 2007. The banks that were investigated in this research paper included banks that incorporate functions in the equity market as part of their daily operations and in the possession of relevant information on securities trading as well as information on cheque processing procedures. One of the main findings is that, there is above average knowledge and understanding of ILM within the financial sector in Nigeria. Therefore, it was recommended that the application of ILM techniques should be improved upon in the management of information in the Nigeria financial sector and to obtain the best results at every stage of the information lifecycle

Simulation of Automated File Migratoon in Information Lifecycle Management

Information Lifecycle Management (ILM) is a strategic concept for storage of information and documents. ILM is based on the idea that in an enterprise information have different values. Information with different values are stored on different storage hierarchies. ILM offers significant potential cost savings by tiering storage and 90% of decision makers consider implementing ILM (Linden 2006). Nonetheless, there are too few experience reports and experimenting and researching in real systems are too expensive. This paper addresses this issue and contributes to supporting and assisting IT managers in their decision-making process. ILM automation needs migration rules. There are well-known static, heuristic migration rules and we present a new dynamic migration rule for ILM. These migration rules are implemented in an ILM simulator. We compare the performance of the new dynamic rule with the heuristics. The simulative approach has two advantages. On the one hand it offers predictions about the dynamic behaviour of an ILM migration rule and, on the other hand, it dispenses with real storage hardware. Simulation leads to decisions under certainty. When making a decision under certainty, the major problem is to determine which is the trade-off among different objectives. Cost-benefit analysis can be used to this purpose. A decision matrix is laid where rows represent choices and columns represent states of nature. The simulated results support the choice of migration rules and help to avoid mismanagement and poor investments in advance. The results raise the awareness of choosing the best alternative

The applicability of a use value-based file retention method

The determination of the relative value of files is important for an organization while determining a retrieval service level for its files and a corresponding file retention policy. This paper discusses via a literature review methods for developing file retention policies based on the use values of files. On basis of these results we propose an enhanced version of one of them. In a case study, we demonstrate how one can develop a customized file retention policy by testing causal relations between file parameters and the use value of files. This case shows that, contrary to suggestions of previous research, the file type has no significant relation with the value of a file and thus should be excluded from a retention policy in this case. The case study also shows a strong relation between the position of a file user and the value of this file. Furthermore, we have improved the Information Value Questionnaire (IVQ) for subjective valuation of files. However, the resulting method needs software to be efficient in its application. Therefore, we developed a prototype for the automatic execution of a file retention policy. We conclude with a discussio

Greening information management: final report

As the recent JISC report on ‘the ‘greening’ of ICT in education [1] highlights, the increasing reliance on ICT to underpin the business functions of higher education institutions has a heavy environmental impact, due mainly to the consumption of electricity to run computers and to cool data centres. While work is already under way to investigate how more energy efficient ICT can be introduced, to date there has been much less focus on the potential environmental benefits to be accrued from reducing the demand ‘at source’ through better data and information management. JISC thus commissioned the University of Strathclyde to undertake a study to gather evidence that establishes the efficacy of using information management options as components of Green ICT strategies within UK Higher Education environments, and to highlight existing practices which have the potential for wider replication

DATA CASSIFICATION AND INFORMATION LIFECYCLE MANAGEMENT IN PORT COMMUNITY SYSTEMS

Rad istražuje ulogu klasifikacije podataka (Data Classification) i upravljanja životnim ciklusom informacija (Information Lifecycle Management) u objedinjenim sustavima informatičko-telekomunikacijske razmjene podataka i poruka u lučkom okruženju (Port Community Systems). U radu se analiziraju problemi koji nastaju prilikom implementacije takvih sustava, a uzrokovani su kompleksnošću pojedinih informacijskih i organizacijskih sustava sudionika u procesu. Predlaže se nekoliko modela klasifikacije podataka, izvedenih iz standardne metodologije sigurnosti informacijskih sustava. Identificiraju se ključni elementi potrebni za uvođenja sustava za klasifikaciju podataka i upravljanje životnim ciklusom informacija te se predlažu implementacijski putovi kojima bi se prebrodile moguće poteškoće u funkcioniranju sustava.The purpose of this paper is to research the role of the Data Classification (DC) and Information Lifecycle Management (ILM) processes in Port Community Systems (PCS). Issues that are likely to be encountered in the implementation of such systems are defined by the complexity of the PCS stakeholders\u27 own ICT and organizational systems and are therefore clearly outlined. Furthermore, several data classification models are proposed, which are derived from the standard methodology of information systems security. The paper identifies possible key issues during the DC/ILM system implementation and finally proposes suggested implementation paths in order to overcome operational difficulties

Wirtschaftlichkeitsanalyse der automatisierten Verwaltung unstrukturierter Daten im Information Lifecycle Management

Ziel von Information Lifecycle Management (ILM) ist die Klassifizierung und kostengünstige Verwaltung von Informationen. Informationen, auf die in einem Unternehmen oft zugegriffen wird, können von Informationen mit geringerer Zugriffshäufigkeit getrennt und den Unternehmensanforderungen entsprechend auf dem jeweils sinnvollsten Speichermedium bereitgestellt und verwaltet werden. Das rasche Datenwachstum, hohe Speicher-, Administrations- und Betriebskosten sowie zahlreiche rechtliche Anforderungen sind die wesentlichen Gründe für die Entstehung von ILM. Zur Analyse des Kosten- und Nutzenverhältnisses, das bei der Implementierung und Anwendung von ILM entsteht, wird in dieser Arbeit ein Verfahren für die Wirtschaftlichkeitsanalyse zur Verwaltung unstrukturierter Daten im ILM konstruiert, implementiert, demonstriert und evaluiert. Es werden Klassifizierungs-, Verlagerungs- und Kostenfunktionen implementiert, um die Entstehung von Kosten und Kostensenkungspotentialen für verschiedene Nutzungsgrade von Informationen zu simulieren und auszuwerten. Es wird untersucht, welchen Einfluss die automatisierte Klassifizierung und Verwaltung unterschiedlich großer Datenmengen mit variierenden Zugriffshäufigkeiten und Nutzungsgraden auf die Wirtschaftlichkeit des ILM hat. Neben unternehmensinternen Speichermedien wird die Verwaltung von Daten im Cloud Computing in die Betrachtungen einbezogen. Die vorliegende Arbeit liefert eine Literaturanalyse zu den Konzepten ILM und Cloud Computing sowie einen wissenschaftlichen Beitrag dazu, sowohl rechtliche als auch funktionale und technische Anforderungen an ILM und Cloud Computing zu erörtern. Beendet wird die Arbeit durch eine Zusammenfassung sowie eine kritische Würdigung der Ergebnisse. Ein Ausblick gibt Hinweise und Verbesserungsvorschläge hinsichtlich der Wirtschaftlichkeitsanalyse unstrukturierter Daten im Information Lifecycle Management.The aim of Information Lifecycle Management (ILM) is the classification and cost-effective management of information. Highly accessed information should be separated from information with low access rates with the goal to use enterprise storage according to usage and business needs. The rapid growth of information, increasing storage-, administration- and operating costs as well as legal requirements are the main reasons for the emergence of ILM. To analyze the cost-benefit ratio resulting from implementing and running ILM, a method for the economic analysis for managing unstructured data in ILM is designed, implemented, demonstrated and evaluated. The author is implementing classification, displacement and cost functions to simulate the formation of costs and cost reduction potentials for different access rates and lifecycles of information. Automated classification is used for different volumes of data with varying access frequencies and degrees of utilization. Cloud Computing is included in the considerations as a way to store and manage data in addition to internal enterprise storage. The present study provides a literature review on ILM concepts and cloud computing. Legal, functional and technical requirements for ILM and Cloud Computing are discussed. A summary and a critical assessment of the results is finishing the work. A lookout gives hints and suggestions for improving the economic analysis of unstructured data in Information Lifecycle Management

JISC Preservation of Web Resources (PoWR) Handbook

Handbook of Web Preservation produced by the JISC-PoWR project which ran from April to November 2008. The handbook specifically addresses digital preservation issues that are relevant to the UK HE/FE web management community”. The project was undertaken jointly by UKOLN at the University of Bath and ULCC Digital Archives department