This IDC Market Perspective examines Australia and New Zealand's regulatory environments surrounding data use and privacy, and analyses their impact on data-driven transformation initiatives in both countries. The report also considers the effects that global policies on data privacy, such as the Global Data Protection Regulation (GDPR), have on entities undertaking data-driven transformation activities on a global scale.
As the volume of data produced and collected increases exponentially, so too do the risks — sensitive personal information must be well-managed and protected in a landscape of growing security threats. Australia and New Zealand's regulatory environments balance enabling innovation but adequately protecting consumer privacy. In the digital transformation (DX) era, collaboration and transformation are vital to businesses' future success. A/NZ's regulatory policy therefore encourages innovation and transformation opportunities where possible. IDC research shows that regulatory compliance and data privacy are some of A/NZ CEOs' and IT decision makers' top concerns.
"While the global trend towards more stringent data use and data privacy regulations may cause compliance problems for some companies, this has the ultimate benefit of boosting consumer trust," says Emily Lynch, associate market analyst, IDC New Zealand. "Australia and New Zealand's regulatory commitment to both stronger privacy and open data practices supports A/NZ businesses in their data-driven transformation efforts," she adds.
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