- 15 November 2018 09:00
New Veritas research reveals Australian organisations need to improve data protection, and compliance protocols
While data is quickly becoming recognised as an organisation’s most important digital asset, the majority of Australian companies need to make improvements when it comes to day-to-day management of data, according to new research from Veritas Technologies, the worldwide market share leader in enterprise data protection.
With increased scrutiny of organisations handling customer data, ongoing global headlines around malicious data breaches faced by businesses, and the introduction of more stringent data 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 by Vanson Bourne for Veritas, surveyed approximately 1,000 IT decision makers and data managers across 15 countries, including respondents from Australia and New Zealand. It revealed that an overwhelming 81 per cent of respondents say that their organisation needs to make improvements when it comes to ensuring data compliance, while 82 per cent say improvements need to be made with data security and risks. Furthermore, 82 per cent in Australia and New Zealand 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 16 per cent believe their organisation is putting data to effective use to drive the business forward.
The survey also reveals that only (27 per cent) of IT professionals in Australia and New Zealand feel that data flows seamlessly through their organisation, with visibility, accessibility and transferability across different job functions and departments. By contrast, 70 per cent of 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:
- Too many different tools and systems being used to work effectively (47 per cent)
- Too many data sources to make sense of (43 per cent)
- A lack of the right skills/technology to harness the power of data (42 per cent)
- Spiralling costs make data management harder (37 per cent)
- A lack of a centralised strategy/approach to data management (34 per cent)
- Inability to back up and recover data reliably (34 per cent)
Only a mere 4 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 different environments with, on average, almost half (48 per cent) of company data now stored in the cloud, compared to 35 per cent stored on premises,” said Howard Fyffe, managing director, Australia and New Zealand, Veritas. “But as data becomes more siloed and sprawled, it is tougher to see, manage, access and protect, creating significant business challenges.
“In today’s digital age where data is the new currency, effective data management practices are even more crucial in gaining consumers’ trust and upholding strong brand reputation. With the Office of the Australian Information Commissioner reporting that majority of the data breaches earlier this year are related to cyber attacks, it is a must for businesses build a solid foundation for data management. This not only protects against cyber criminals or comply with data regulations, it also paves the way for driving innovation and success in today’s digital economy.”
For more information on managing and protecting your data, visit www.veritas.com.
Vanson Bourne is an independent specialist in market research for the technology sector. For more information, visit www.vansonbourne.com. The study was conducted during October and November 2018.