PRESS RELEASE – LONDON, April 30, 2018
A new BARC/CXP Group study finds that organisations are looking to use the onset of the General Data Protection Regulation (GDPR) to make better use of their data.
The report “Managing Personal Data Beyond The GDPR” is based on briefings with more than 200 senior business and IT executives at medium-sized and large companies operating across manufacturing, services and the public sector in Europe.
57% of those surveyed plan to acquire data integration tools; 49% are looking to invest in data quality, including technologies for master data management and reporting; and 47% are evaluating technology to enhance their data governance to achieve data transparency and enable auditing.
Figure 1: What data management technologies are you planning to invest in (following your GDPR assessment)?
Only 19% of respondents believe their organisations will be fully ready for GDPR before the introduction date on 25th May, having completed and tested their preparations. The United Kingdom (67%) sees itself as the most GDPR-ready region while the traditionally data-sensitive DACH region (Germany, Austria and Switzerland) is the least ready at 54%. Manufacturing is the best prepared of all vertical sectors. With only two months to go when the survey was conducted, 60% were still confident they would be ready in time, while nearly one in three said they won’t be.
47% of respondents said that organisational issues are likely to be the biggest hurdle to GDPR readiness. A perceived lack of experience was second – but this is not surprising given the newness and scope of dealing with increasing amounts of data while attempting to meet the GDPR requirements.
Benefits of GDPR
Many of the companies surveyed strongly agree that GDPR will bring benefits to their business in the way their customer data is used. The most frequently anticipated benefit is faster cleansing of data and a consequent rise in data quality at 36%. Other benefits expected are better decisions in business units and controlling due to more reliable data (33%); making data more rapidly actionable and valuable (30%); providing better customer knowledge and marketing (28%); and accelerated development of new digital products and services (28%). Only 1% of participants feel that GDPR will have no impact on their use of customer data.
Timm Grosser, head of data management and analytics consulting at BARC, said: “GDPR is looming but for many there is still a lot of work to do. Our survey participants recognise this and many realise that efficient data management is key to meeting GDPR requirements such as data protection, locating data and responding to customer requests. In turn, GDPR presents new opportunities for organisations to gain value from their data. Data management is required to control, curate, use and protect this next-generation asset: data.”
About the study
“Managing Personal Data Beyond The GDPR – How will European organisations remain compliant and manage their data in the next five years?” is based on a survey conducted in Europe in January and February 2018, and has been published today. More than 200 companies with over 250 employees in the United Kingdom and Ireland, France, the DACH region, Southern and Eastern Europe as well as the Nordic and Benelux regions were surveyed by telephone (CATI). The study was prepared in the multi-client model and supported by gold sponsors Ab Initio and Talend.
– More information about the study
– Register to download the executive summary of the study
– Please contact the sponsors (Ab Initio or Talend) if you wish to receive a full version of the study
About BARC – Business Application Research Center – a CXP Group Company
The Business Application Research Center (BARC) is an enterprise software analyst and consulting firm with a focus on analytics/business intelligence (BI), data management, enterprise content management (ECM), customer relationship management (CRM) and enterprise resource planning (ERP). For over twenty years, BARC analysts have combined market, product and implementation expertise to advise companies and evaluate BI, data management, ECM, CRM and ERP products. A long-running program of market analysis and product comparison studies forms the basis of BARC’s comprehensive knowledge of all the leading software vendors and products, as well as the latest market developments and trends. Along with analysts CXP and PAC, BARC forms part of the CXP Group – the leading European group of analysts for enterprise software and IT services with staff in eight countries. For further information, visit www.barc-research.com/.
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