Only half of U.S. businesses will invest in public cloud services and ensure compliance with data protection regulation requirements like GDPR
NetApp (NASDAQ: NTAP) – With 45 days until the May 25 enforcement date of the EU’s General Data Protection Regulation (GDPR), NetApp, the data authority for the hybrid cloud, today released research findings from a global survey of IT decision makers across the U.S., UK, France, and Germany. The survey shows that these decision makers are still missing an opportunity to transform their business through a holistic data management approach that reduces risk and improves business efficiency. For nearly two years, most organizations have lagged in addressing their GDPR compliance, and in some cases are ignoring the issue completely. In doing so, they are ignoring the benefits to be gained from the compliance effort, including developing a data-centric approach to control, manage, and move data regardless of where it’s stored – on premises or in the cloud. A data-centric approach drives improved efficiencies and competitive advantage and unifies data governance practices across organizations to drive down cost.
According to the report:
- 40% of U.S. businesses and 35% of global businesses think that GDPR could threaten their existence due to financial penalties, while 52% of U.S. businesses and 50% of global businesses think that it could lead to reputational damage.
- Only 52% of U.S. businesses and 39% of global businesses are confident that they know where their data is stored.
- 63% of U.S. business 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. “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 and machine learning, IoT, robotics, and more.”
In light of frequent high-profile data breaches, a GDPR-compliant data privacy program will also establish trust among customers and partners. Companies that embrace GDPR compliance can create a clear competitive differentiation in the marketplace.
NetApp understands the process and legal requirements that GDPR imposes on organizations that store, process, or hold data on EU residents. NetApp is one of fewer than 100 companies in the world that have EU-approved Binding Corporate Rules (BCRs), and NetApp partners with the world’s top governance, risk, and compliance (GRC) consultancies and e-discovery vendors. NetApp can help customers integrate NetApp® and partner technologies to enable them to identify where personal information is held, improve their data management and governance processes, and build GDPR-compliant processes into their day-to-day activities.
“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. “The good news is that there is still time to engage a GDPR expert to help prioritize and complete the most critical GDPR compliance tasks and ensure that you, your partners, and your cloud providers know where your company’s data is stored. Most important, organizations need to shift their thinking. Every step they take to comply with the GDPR makes them a stronger business.”
Annual NetApp GDPR Survey
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.
NetApp is the data authority for hybrid cloud. We provide a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with our partners, we empower global organizations to unleash the full potential of their data to expand customer touchpoints, foster greater innovation, and optimize their operations. For more information, visit www.netapp.com. #DataDriven
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