General Data Protection Regulation threatens to put a huge number of businesses – out of business. NetApp has conducted a survey across Germany, France, the US and the UK, and the results have shown that a third of organisations might shut down due to not being able to comply with the GDPR.
According to the survey, 35 per cent of businesses are faced with existential risk, while 51 per cent think not being able to comply might hurt their reputation. Looking specifically at UK businesses, the number is even bigger – 41 per cent. Also, UK businesses seem to worry most about reputational damage, 56 per cent, compared to the US (52 per cent), and France (49 per cent).
Two thirds of businesses, 67 per cent of them, fear they won't meet the deadline, which is May 25, 2018, and less than half (40 per cent) know where their data is stored.
So what’s the big deal, where are these businesses doing it wrong? The survey suggests businesses are struggling to know where they store data. Only 40 per cent of respondents, in general, can say with confidence, where the data is stored. US respondents were most confident (52 per cent), while UK respondents are confident in 39 per cent of cases.
“We have known for a long time that GDPR is coming and would have hoped that the level of concern among businesses these days would be minimal,” commented Alex Wallner, NetApp Senior Vice President and General Manager EMEA.
“That clearly is not the case, even though the GDPR, data compliance, and privacy questions will undoubtedly affect businesses that touch EU citizens’ data. But there is good news, in spite of the approaching deadline: The whole ecosystem is responding to the requirements of GDPR, from resellers to hyperscale cloud providers to manufacturers. Enterprises can tap into this expertise, build up resources, and future proof businesses with GDPR compliant data management.”
Image source: Shutterstock/Carlos Amarillo