Two in three companies are collecting more data than they are able to analyse, according to new research from Gemalto.
In addition, the study reveals that only half (54%) of companies know where all of their sensitive data is stored. Compounding this uncertainty, more than two-thirds of organisations (68%) admit they do not carry out all the procedures in line with data protection laws such as GDPR.
“If businesses can’t analyse all of the data they collect, they can’t understand the value of it — and that means they won’t know how to apply the appropriate security controls to that data,” said Jason Hart, Vice President and CTO for Data Protection at Gemalto.
“Whether it’s selling it on the dark web, manipulating it for financial gain or to damage reputations, unsecured data is a goldmine for hackers. You only need to look at the recent hacks on the World Anti-Doping Agency and International Luge Federation to see the damage that can be done. What’s more, data manipulation can take years to discover, and with data informing everything from business strategy to sales and product development, its value and integrity cannot be underestimated.
To read the full article click here.