Most companies think GDPR will boost their competitiveness, according to study

Medium-sized firms are the most optimistic about GDPR, suggests the NetApp research

Most companies see the general Data Protection Regulation as a good thing, according to a new study from cloud services provider NetApp.

After quizzing a range of British technology firms, the researchers found that 75 per cent of IT decision makers and CIOs believe that GDPR will help boost competitiveness.

Set to come into force on 25 May, the law not only seeks to give EU citizens greater control over their personal data but also to transform the way that organisations handle it.

With just ten days left till the deadline, 90 per cent of medium-sized businesses (251-500 employees) think they will see a competitive boost, followed by 71 per cent of large firms (501 plus employees).

However, smaller companies have been identified as the least optimistic, with just 58 per cent of them viewing the new privacy law in a positive light.

The majority (87 per cent) of these companies believe that data is business critical, with 94 per cent of larger firms and 91 per cent of medium firms agreeing with this statement.

Yet again, smaller companies are not so optimistic. Just one-quarter (26 per cent) believe that data is important in their daily operations.

Generally, the respondents have a good idea of where data resides. Among medium-sized firms, 89 per cent of them were confident as to where and how data should be stored - followed by 83 per cent of small and large companies.

The research also claims that organisations are dialing down on cloud investment, with 38 per cent of companies planning to scale back and 27 per cent having already done so.

Overall, 53 per cent of UK firms plan to put more money towards improving data compliance.

Nick Thurlow, UK director of NetApp, said it is clear that most organisations are taking the necessary steps to comply with GDPR.

"As the perception of the regulation shifts to one that embraces the competitive advantage, it is reassuring to see that businesses are taking the regulation seriously," he said.

"Realising that data is not just important, but critical forces businesses to pay closer attention and to be absolutely certain of where their data is stored.

"Once they have tackled this key requirement for compliance, GDPR can provide a huge opportunity for them to increase their competitiveness.

He added: "What this means is that the starting point for businesses needs to be a clear assessment of the value of their data and where it resides.

"When the path to GDPR compliance is clear, they can reap the benefits of increased customer trust, transparency and a more targeted way of engaging with their customers."