Business Leaders Know They’re Not Doing Enough to Protect Their Data

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As digital strategy increasingly becomes a priority for Canadian business leaders and more are migrating their data to the cloud, a new survey from Microsoft Canada reveals concerns and confusion around security and preparedness when it comes to managing data.

The survey, conducted by Northstar on behalf of Microsoft, asked more than 700 Canadian business leaders about digital transformation and found that 71 per cent of senior executives say implementing a digital strategy is one of their top five business objectives in 2017, with 68 per cent saying they are already harnessing the power of the cloud and 81 per cent stating that cloud solutions will play an important role in executing their digital strategy.

However, despite this shift, there is still some skepticism among Canadian business leaders, with 58 per cent listing security as a top concern when migrating to the cloud, followed by privacy (47 per cent).  In addition to this, only 21% of executives reported that they feel they are “fully prepared” in the case of a data hack or leak.

“It’s great to see that the cloud continues to gain momentum and that Canadian businesses recognize its value,” said Janet Kennedy, president of Microsoft Canada. “After learning more about the cloud and our approach to security, we’re seeing companies of all sizes adopt the Microsoft cloud to achieve better security. Quite simply, what they realize is that it’s impossible for most organizations to match the kind of investment Microsoft is making in security technology, infrastructure and operational processes to protect their data.”

Local data residency is important for businesses with the majority (85 per cent) reporting that they want their data to remain in Canada. 89 per cent of business leaders say it’s important for their cloud service provider’s solutions to integrate with their existing IT investments. The overwhelming majority (90 per cent) indicated that it is important for cloud providers to actively target cyber criminals and work with governments to maintain top cybersecurity standards.

“The survey confirmed that business leaders need to feel confident that their data is secure and is being stored here in Canada. This is especially important for businesses with stringent compliance standards, such as government and healthcare organizations. To address this need, we recently opened datacentres in Toronto and Quebec City,” added Kennedy.

Thomson Reuters and University of Waterloo Partner to Fuel Innovation in Data Science

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