In a world where the amount of data is exploding, we see data management costs growing exponentially at the same time as privacy regulations poses substantial financial risks for non-compliance. Unsurprisingly, the real potential value of data and collaboration is therefore not materialized. 94% of CDOs surveyed stated deploying data privacy technology that enforces existing data privacy regulations would result in increased revenues, adding yet one more strong argument to take action now.

Data is one of the most powerful business tools. Every day we generate 2.5 quintillion bytes of data; and it is up to chief data officers to determine its value and opportunities for strategic growth. If a business can manage its data over time, as well as collaborate with other businesses in a secure and compliant way, the opportunity for improved outcomes is immense.

In a survey presented by TripleBlind, more than 150 chief data officers and senior data managers at healthcare and financial services organizations with annual revenues of at least $50 million and at least 250 employees have participated.

…increase revenues with up to 30%…

Not only do 94% of respondents believe data privacy technology would increase revenues with up to 30% for their organization, nearly half of those surveyed said expanded data collaboration would give their organization a competitive advantage.

TripleBlinds findings adds even more strong arguments to an already extensive list in favor of automated information control:

  • Lowered financial risks for non-compliance
  • Lowered data management costs by realizing storage minimization
  • Lowered costs for data subject requests
  • Lowered costs through automated data retention schedules
  • Improved sustainability through lowered CO2 emissions from data storage
  • Improved information security through zero-trust and granular insight/access
  • Improved trust and loyalty from customers and employees
  • Improved internal efficiency through better order and searchability

And the two new ones:

  • Increased revenues through data collaboration
  • Competitive advantage through differentiated customer offerings

It is time to act.

Contact us if you want to know how cutting-edge AI can realize business value for you and your organization.

Link to the full report:
https://tripleblind.ai/cdo-data-privacy-report/