Firms could lose $20M annually due to poor data management
A new report from Veeam shows most organisations unable to guarantee data availability
Seventy three percent of organisations globally admit to not being able to meet users’ demands for uninterrupted access to data and services, costing the typical company $20 million a year, a new report from Veeam says.
The 2019 Veeam Cloud Data Management Report highlights the devastating impact downtime can have on lost revenue, productivity, and customer confidence. However, this year’s study shows that organisations are acting to combat this, with nearly three-quarters (72%) looking to embrace cloud data management, often by exploiting hybrid cloud capabilities, to ensure success and drive more value from their data.
In the Middle East, 93% of organisations will have Cloud Data Management initiatives in place by the end of 2019, with the average enterprise investing $41 million in transformational technologies.
Seventy six percent of regional organisations have SaaS deployments, citing security and flexibility as key, while almost all, (97%), expressing confidence in intelligent data management initiatives.
“We are living in a data-driven age, and organisations need to wake up and take action to protect their data. Businesses must manage their data in a way that always delivers availability and leverage its value to drive performance. This is no longer a luxury, but a business necessity. There is a significant opportunity and competitive advantage for those who effectively manage their data. Ask yourself, are you confident that your business data will always be available? If you are unsure, it’s time to act, and our study shows that many are not acting fast enough,” said Ratmir Timashev, co-founder and executive vice president (EVP) of Sales & Marketing at Veeam.
Organisations are looking to embrace the power of technologies such as the cloud, or hybrid cloud, Big Data, Artificial Intelligence (AI), and the Internet of Things (IoT) to drive business success and will each invest on average $41 million in 2019 on such transformational technologies. Almost half of respondents admit that data protection is imperative to leverage these investments.
Alarmingly, only 37% of businesses are very confident in their current backup solutions, with the majority (73%) admitting that they cannot meet user demands. This inhibits the adoption of tools and processes that can drive business advantage, but leaders recognise work needs to be done; more than half of those surveyed are looking to deploy Intelligent Data Management and multi-cloud solutions across the business to address this failing.