November 2023 - The Software Bureau

2024: A year for data protection regulation reform?

By Martin|2023-11-27T12:14:35+00:00November 27th, 2023|

Following its airing at the recent King’s Speech the much-discussed Data Protection and Digital Innovation Bill (DPDI) will have its ‘remaining stages’ in the House of Commons on 29 November. There are 21 possible amendments to the Bill all most of which have been referred to as ‘common-sense’ and it is expected to fly through parliament, meaning it is likely to become law early next year. The DMA supports the ratification of the Bill having been heavily involved in shaping many of its elements. Key differences to GDPR include: How personal data is defined Under DPDI information will only be considered as identifiable by a person other than the controller or processor if that other person obtains the information as [...]

Cost of Dirty Data: The £900 Billion Annual Burden on UK Business

By Martin|2023-11-14T10:23:03+00:00November 14th, 2023|

Dirty data is costing the UK economy £900 billion. The impact of unclean data is estimated to stand at 20% of an organisation’s revenue. In 2023 revenue of UK business is thought to total £4.5 trillion meaning that failing to keep customer data up-to-date cost £900bn. In terms of the impact of this on individual businesses, a single ‘inaccurate’ customer record is currently costs an organisation £81.11. Experian research reveals that 22% of customer records within the average database are inaccurate. This means that an organisation with a database comprising 500,000 customer records could be looking at a £811,000 cost to the business. The retail sector was found to have the highest associated cost of unclean data at £300bn, whilst [...]