Majority of data leaders unable to use more than 40 % of their data
Survey background and methodology
This survey was commissioned by Privitar and fielded by Bloor Research to understand the current state of the data landscape and the challenges and opportunities facing data leaders . The survey was based on telephone interviews of 100 data leaders in the US , UK , France and Germany , underlying which was a detailed questionnaire . The respondents all have an influence in decisions about their organisation ’ s data management , from departments such as IT , data analytics , data management , compliance and security . They represent enterprises with a minimum of 1,000 employees and reflect a cross-section of industries , including financial services , healthcare , Information Technology , retail and industrial .
rivitar , a leader in data
P privacy and security , has released the results of a new survey of 100 data leaders conducted by Bloor Research which found that access to data is significantly limited by data privacy and protection regulations .
The State of Data Analytics : Key Challenges in a Strict Security and Privacy Environment reveals that the majority of data leaders surveyed ( 60 %) are unable to use more than 40 % of their data due to privacy concerns . While the data that is available to those surveyed is readily accessible ( 84 % can receive data in less than a week ), this represents only a fraction of the data they need to access to drive innovation . In reaction , more than two-thirds ( 70 %) of respondents currently have or plan to invest in a data privacy solution within the next year .
Data leaders ’ top three goals for leveraging data include gaining a competitive advantage ( 56 %), reducing costs ( 49 %) and improving efficiency ( 46 %). Additionally , those surveyed want to use their data to improve business decision-making ( 45 %) and to develop new products and services and revenue streams ( 40 %).
Data privacy and compliance challenges are abundant and nearly two-thirds of survey respondents ( 62.6 %) stated that privacy concerns limit their ability to use data effectively .
A large proportion ( 67 %) of respondents said access to useful data was restricted because of governance mandates ; 61.2 % said data protection reduced the value of their data ; and 56.6 % stated that complex , ad hoc , or manual data access processes created challenges .
Most ( 73.7 %) find it a challenge to keep up with the pace of regulatory change and 89 % are looking to simplify processes for achieving regulatory compliance . More than half ( 57.6 %) state that they are unable to manage risks .
Organisations are taking the challenges they face seriously , with a significant majority planning to invest in data privacy tools . More than one-third ( 35 %) are currently investing in data privacy tools , which can help minimise the risk associated with sensitive data . Another 35 % of respondents plan to invest in data privacy tools within the next year .
In addition to embracing data privacy tools to improve analytics efforts , those surveyed also cite a distinct desire to expand the range of data sources available for approved use ( 64 %), have faster access to approved and protected data ( 59 %), enable more users to access approved data ( 59 %) and increase the ability to share data with partners ( 57 %). � www . intelligentdatacentres . com