PROBLEM: Most companies are now realising that they cannot repurpose data in the ways that they want to maximize value. This puts them in a difficult position: to gain a competitive edge, or even to compete in their industry at all, repurposing of data is not only important, but in many cases necessary.
STATS: A recent study revealed that 90% of Chief Data Officers (CDOs) are currently repurposing data or plan to, but within the last 6 months 53% have been told that their organisation cannot use the data in the ways that they want to. Now that the GDPR is in effect, companies can, in many cases, no longer rely on the processing grounds of consent and contract when they want to repurpose data or use data with Big Data analytics, ML, and AI.
400+ Chief Data Officers said:
Currently, or plan to, REPURPOSE data
Have been told NO, they CANNOT make desired use of data
400+ CDO’s across Europe from Global Multinational companies at FIMA Nov 2019