David Smith, Head of GDPR Technology at SAS UK & Ireland, comments on the highs and the lows to come in the post-GDPR world.
“Four years of anticipation have all lead up to this – but despite the long run-up, most organisations aren’t ready. As of February this year, 93 per cent of respondents to our survey said they were not yet fully GDPR compliant. It’s safe to say that the gap won’t be anywhere near closed only three months later.
“GDPR is a serious challenge for consumer organisations. More than a quarter of respondents to SAS’ Age of Now report (27 per cent) said that GDPR will greatly restrict what they can do with their customer data. In its recent GDPR survey, SAS found that GDPR will significantly affect how 63 per cent of companies conduct their business.
“As with any new regulation, it will also create an additional compliance burden for analytics teams. Nearly half (43 per cent) of respondents to the Age of Now survey point to the additional paperwork and record-keeping that will be required by GDPR, as a major problem.
“In a poll of 2,000 UK adults SAS found that 48 per cent of consumers intend to activate their new rights over their personal data. As a result, data scientists’ precious time could be taken up with lengthy administrative tasks rather than pursuing business projects.
“It’s not all doom and gloom. The vast majority (84 per cent) of companies surveyed anticipate that GDPR will improve data governance, and 68 per cent expect GDPR to increase trust. Those that can innovate through GDPR will gain a significant advantage over competitors.”
