7 RESILIENCE LEVERS

At the heart of any company’s resilience is the ability to effectively forecast risk and identify looming threats.

To achieve this state of preparedness, companies are increasingly harnessing, employing and utilising what has been referred to as ‘The New Gold’: data.

The building of data-driven decision-making capabilities ensures that businesses are able to make more timely decisions, better understand their customers, better manage supply chain disruption, and ultimately increase agility.

of companies are actively investing in preparation for future crises, including use of tools such as AI and analytics to mitigate risk.

of businesses agree they are using AI and analytics to monitor for risk scenarios.

As such, 97% of companies are actively investing in preparation for future crises, including use of tools such as AI and analytics to mitigate risk. Furthermore, nearly one in three G20 companies are conducing M&A to acquire data assets.

Our research suggests that as more and more companies are making the necessary investments into data tools and analytics, they are reaping the rewards: 84% of businesses agree that, as a result of Covid-19, they have become more agile by using predictive analytics, for example.

With the working landscape having shifted considerably over the past 12 months, businesses are also employing data to better manage their workforces: 99% of G20 companies are using some form of workplace productivity analytics to manage their remote workforce or are considering using it.

Opportunity & Risk

Data is, however, a double-edged sword; as companies find greater utility and value in data, the risks and scrutiny around the management, storage and handling of data grow. 

From a privacy perspective, our research suggests the risks around data are increasing. One in four organisations say they have lost revenue as a result of data privacy issues in the last 12 months. As a result, scrutiny is also increasing: one in three companies expect media security over their data privacy in the next 12 months.

With malign actors looking to capitalise upon the growing value of data, cyber-attacks are becoming an ever-increasing vulnerability. The average G20 firm has lost $3.4m from cyber-attacks over the past 12 months, whilst the regulatory risks surrounding cyber-attacks are also increasing.

As such, 81% of G20 companies agree that cybersecurity has risen up the board’s agenda – and with over half of G20 companies (52%) say they are taking proactive steps to manage data privacy risk, it is clear that the protection and preservation of data is becoming a key C-suite priority

52%

of G20 companies (52%) say they are taking proactive steps to manage data privacy risk.

1 in 4

G20 companies report that they had lost revenue as a result of data privacy issues in the last 12 months.

INSIGHTS

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