As we get closer to the May 25 enforcement date of the EU’s General Data Protection Regulation (GDPR), organizations are still concerned about meeting the deadline. Hybrid cloud data firm NetApp shared research findings from a global survey of IT decision makers across the U.S., U.K., France and Germany, in a recent press release focusing on the impending deadline.
According to the report:
- 40 percent of U.S. businesses and 35 percent of global businesses think that GDPR could threaten their existence due to financial penalties;
- 52 percent of U.S. businesses and 50 percent of global businesses think GDPR could lead to reputational damage;
- 52 percent of U.S. businesses and 39 percent of global businesses are confident that they know where their data is stored; and
- 63 percent of U.S. businesses continue to invest in private cloud services and ensure compliance with data protection.
“The survey responses are surprising, given that the key capabilities required for ensuring data privacy and complying with the GDPR are also essential for increasing business efficiency and competitiveness,” said Elizabeth O'Callahan, NetApp vice president, legal, in the press release. “GDPR compliance requires organizations to know where their data is and to be able to classify data and control the lineage of data – all capabilities that are essential for data analytics initiatives designed to deliver accurate business insight. These capabilities are also fundamental to the success of other digital transformation and omnichannel marketing initiatives, including mobile networks, AI, machine learning, IoT, robotics and more.”
Companies that embrace GDPR compliance will likely see an increase in trust among customers and partners when it comes to data privacy programs, possibly creating a clear competitive differentiation in the marketplace, according to the press release.
“Companies that control their data control their destiny, so it is surprising to see that despite the risk-reduction and operational benefits of GDPR compliance, so many businesses are still struggling to meet the deadline,” said Bill Miller, NetApp CIO.
Methodology
The NetApp GDPR survey was conducted across a database of 1,100 C-suite and IT managers responsible for IT buying decisions in the United Kingdom, United States, France and Germany, working in companies with 100 or more employees, to understand attitudes and readiness toward cloud services, data needs and the level of awareness and preparedness for the upcoming GDPR legislation.