Businesses are collecting more data than they can handle, putting themselves at risk of breaching data protection laws, such as GDPR, and damaging their competitiveness, warns Gemalto.
Its fifth-annual Data Security Confidence Index, based on a survey of 1,050 IT decision-makers and 10,500 consumers, shows that 65% of global organisations aren’t able to analyse or categorise all the consumer data they have and only 54% know where all their sensitive data is stored.
The problem is particularly bad in the UK, where only 19% of organisations say they are able to analyse data effectively, compared to 55% of organisations in India and 47% in Australia.
Jason Hart, CTO of Data Protection at Gemalto, said : “British organisations could soon find themselves being out-manoeuvred by more agile competitors offering better solutions and services thanks to their ability to protect and analyse data. Organisations must step up to be able to thrive on a global stage.”
More than two thirds of organisations (68%) admit they don’t carry out all procedures in line with data protection laws, such as GDPR.