Future liability concerns for inaccurate data valuations felt by IT leaders

To be explored during DxP: Cloud Data Protection Summit 2020, the research from Druva reveals data valuations to be more vital than ever for retaining customers, with customer experience optimisation being the number one role of data in business impact.

70% of IT decision makers said that they are confident in their ability to maximise the value of data, while 73% rely on data on data more often to make business decisions, and 79% see data management and protection as a competitive business advantage.

The Covid-19 pandemic has proved to be a prominent factor in the way leaders view data, with 73% being more concerned with protecting their organisational data from ransomware than they were before the pandemic.

Additionally, since the pandemic, digital transformation plans have accelerated between 1-5 years, according to 68% of respondents, and a third believe the value of data has permanently increased since Covid-19 took hold.

However, 41% said that the data they collect is not readily available or accessible when needed for decision making, meaning that efficient data access is still an area that needs improvement for many.

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“The rapid move to remote work has permanently changed the way businesses operate, accelerated digital transformation and increased the value of data as a business asset,” said Jaspreet Singh, founder and CEO of Druva.

“As companies realise that business resilience is data resilience, more and more are turning to Druva to protect and unlock its full value.

“Tomorrow, as we bring together the industry’s most innovative leaders, our goal is for all organisations to realise the promise of the cloud era for their customers and communities.”

700 IT decision-makers from the UK and US participated in Druva’s study, the 2020 Value of Data Report.

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Aaron Hurst

Aaron Hurst is Information Age's senior reporter, providing news and features around the hottest trends across the tech industry.