With increasedscrutiny of organisations handling customer data, ongoing global headlines around malicious data breaches faced by businesses, and the introduction of more stringentdata compliance mandates, it’s more important than ever for companies to have a structured risk management policy when it comes to safeguarding data and gaining necessary insights to propel their business forward.
The new study, which was conducted byVansonBourne for Veritas, surveyed approximately 1,000 IT decision makers and data managers across 15 countries. It revealed that an overwhelming 84 per cent of respondents say that their organisation needs to make improvements when it comes to ensuring data compliance, while 83 per cent say improvements need to be made with data security and risks. Furthermore, 81 per cent in the UK say their organisation could improve the level of data visibility and control and more than three-quarters (77 per cent) of those surveyed say their organisation needs to improve processes for data recoverability from data loss or a ransomware attack. Only 15 per cent believe their organisation is putting data to effective use to drive the business forward.
The survey also reveals that less than a quarter (22 per cent) of IT professionals in the UK feel that data flows seamlessly through their organisation, with visibility, accessibility and transferability across different job functions and departments. By contrast, more than four in five (83 per cent) respondents agree their organisation could improve data sharing practices across business functions.
Data sprawl a big challenge in managing data
Respondents cited the following as complex organisational factors that are turning data management into an uphill battle:
Less thanone in 10 (8 per cent) of IT decision makers and data managers surveyed said their organisation faced no data management challenges.
“The exponential growth of unstructured data has led to organisations storing information across a variety of different environments with, on average, more than half (51 per cent) of company data now stored in the cloud, compared to 39 per cent stored on premises,” said Jason Tooley, VP Northern Europe, Veritas. “But as data becomes more siloed and sprawled, it is tougher to see, manage, access and protect, creating significant challenges.
“In an age where effective data management practices can make an organisation and fuel new business models, its exposure can also bring a company to its knees. That is why businesses must build a solid foundation for data management to not only protect against cyber criminals or comply with data regulations, but also pave the way for driving innovation and success in today’s digital economy.”