Records Management Strategies for Social Media Compliance
IDC characterizes social networking as one of the four pillars of computing’s
next major platform, and Forrester Research has noted that sales of software to
run corporate social networks are growing by more than 60 percent a year. Even
USA Today has gotten into the act, citing social media as a trend that is
“redefining how business is done.”
The growing use of social media, however, brings new risks to businesses. While
many IT professionals are focused on the security challenges inherent in
enabling social media, there is one other important area that must not be
overlooked: the impact of social media on records management.
Every tweet, blog post, response to a blog post, corporate YouTube post, text,
e-mail, instant message, wiki collaboration or other related activity represents a
potential corporate record that must be managed in order for the organization
to be compliant with regulatory and, potentially, eDiscovery requirements.
The challenge in managing these additional new records comes at a time when
electronic records management in general is gaining more and more attention,
scrutiny and import. It also comes at a time when organizations are producing
much more data than ever: According to an article in Smithsonian Magazine, by
2013, we will be generating as much data every 10 minutes as was generated
throughout the entire history of humanity through 2003.