Survey Reveals 90 Per Cent Of UK Directors Fear Their Corporate Data Won’t Be Readable In Future

Career Climbers / 24th May 2017

More than nine in 10 UK directors fear crucial corporate information stored by their business won’t be readable in the future, according to a survey by data experts Crown Records Management.

As technology advances at an ever-faster rate the prospect of previously popular formats becoming obsolete is growing all the time.

Already files produced in Word Perfect or Lotus 123, movie clips and photographs stored in the .MOV format and information stored on floppy disks are in real danger of becoming unreadable in the near future.

Now a survey commissioned by Crown Records Management amongst IT decision makers has unveiled the real size of the problem for British business.

The survey showed that:

  • Nearly three in five IT decision makers believe it is vital to keep corporate records secure for more than 50 years.
  • But more than nine in 10 directors say they are concerned about their business not being able to access or read corporate information in the long term.
  • Only 35 per cent of IT decision makers say they regularly review the formats on which their electronic data is held.
  • Nearly a fifth of IT decision makers say they don’t have systems in place to preserve electronic information stored for more than five years.

Dominic Johnstone, Head of Information Management Services, Crown Records Management, said: “These results provide a real insight into a compelling topic for all businesses now and in the near future.

“Long term digital preservation hasn’t made big headlines so far but many companies may be in for a shock because the reality is that any information which is 10 years old or more is seriously at risk.

“The speed at which software and hardware evolves is forcing old formats to quickly become obsolete and there is no guarantee they will be readable in future.”

Johnstone is aware that many businesses simply store their information in the cloud in the belief it is safe; but they frequently don’t consider how, or if, it will be read in 10 or 20 years’ time.

He said: “It’s not surprising that cloud storage is so popular, it’s a relatively cheap and safe way to store information. But if the attached systems are not upgraded regularly and there is no lifecycle management in place there really is no guarantee all that information can be accessed and read when you really need it.

“Only a third of IT decision makers in our survey said they regularly review formats on which their electronic data is held. The big worry is that many of them may find their corporate information is lost in the long term.”

You May Also Like

54% Of Employees Say They Have Better Job Opportunities At Their Current Organizations But Few Are Moving

Career Climbers / 3rd October 2022

More than half (54 percent) of American workers say they have better job opportunities at their current organization as compared to another organization. Yet, only 23 percent say they have...

Plug and Play Selects Final Startup Batches of 2022

Entrepreneurs / 28th September 2022

Plug and Play has accepted its final batch of startups to participate in the last of its Silicon Valley programs of the year. These programs will run through November and focus...