Aging and complex IT systems could scupper demand for an overhaul within a year.

Source: Banks concerned over being able to meet EU data protection deadline

GDPR? What? What’s this? Where did this come from? Have we known about this? We have? Why didn’t anyone tell me about this? You did? I didn’t listen? Well, you should have done a better job of convincing me that this was important! You’re fired! Quick, hire someone to try and fix this? Budget? Um . . . .

What also cracks me up isn’t just that no one knows where their data is, but they don’t even know what they have or who is using it! It gets dumped into a data lake (or three) and then everyone loses visibility of that is in the data lake, who is using it, or for what purposes.

Risk and compliance issues aside, imagine all that untapped opportunity for increased revenue and efficiency. Too many organizations continue to view this as a compliance issue instead of an opportunity get their data house in order so the data can be exploited (legally, of course).