Only a third of EMEA companies
feel confident in managing
customer data, report shows
n average, less than 40% of
companies in Europe, the
Middle East and Africa (EMEA)
are confident they can master their
data – that is manage, secure and gain
insight from data, and use it responsibly.
O
Capabilities in these four areas aren’t
projected to increase in the next three
years, according to a new study from
cloud company, Oracle, called
Rediscovering Trust in Your Data
and Security.
This is despite respondents recognising
the value of achieving excellence in
these areas, with the top three benefits
being cited as increased customer
loyalty, revenue and brand value.
“We know that being able to leverage
data gives immense business benefits
and a lead that others find hard to
diminish,” said Andrew Sutherland,
Senior Vice President, Technology and
Systems, Oracle APAC and EMEA. “But
these findings suggest that organisations
are still being overwhelmed by the
data deluge faced. Companies need to
tackle the problem head on. This will
come from better internal practices and
putting data management strategies and
enhanced security controls in place.
• Only four in 10 are highly confident
in their ability to manage, secure
data and use their data responsibly
• Only 35% are highly confident
they can manage data to generate
meaningful insights
• Key departments are still not
accepting both accountability and
responsibility for data management
• Data security protocols are often not
understood, or abided by
Collective effort needed
When it comes to looking at who is
accountable for securing data, there
seems to be confusion about who is
meant to take the lead.
For example, while nearly half of all
finance and IT decision makers say they
are accountable for securing data within
their organisation, only a third of those
who typically use data – marketing and
HR – revealed they take accountability.
Mind the gap
While 53% of EMEA leaders surveyed
believe that the secure management of
data is very important to reputational
risk, the study shows there are many key
internal behaviours that compromise trust.
One-quarter say that the biggest
concern around data security inside
the organisation is low attention to
data confidentiality, followed by weak
controls on who can access data (24%),
a willingness to manage data through
mobile devices or social platforms
(23%) and use of untrusted devices and
connections (23%).
Around one fifth of respondents
(22%) also say that top behaviours
compromising their trust in how data
is managed include: blindness on
how data is supposed to be used; the
misuse of critical data; and disregard for
applicable data regulations. u
“Additionally, the prudent use of cloud
and emerging technologies like AI and
automation will also be key as we hit that
tipping point where the data and security
challenge is becoming just too big for
humans alone.”
Key findings:
• On average, 42% of respondents do
not have a data management strategy
in place
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57