The Trillion-Dollar Cost of Downtime and Data Loss

By Dennis McCafferty  |  Posted 01-20-2015 Email

Data loss and downtime amount to a $1.7 trillion burden for enterprises worldwide–the equivalent of nearly one-half of Germany's gross domestic product, according to a recent survey from EMC. The report, titled "EMC Global Data Protection Index," reveals that most organizations recognize data protection is mission-critical to their success. But that isn't preventing major disruptions in the form of data loss and/or downtime for the vast majority of them. Among the leading causes: hardware/software failure, data corruption and accidental user error. As a result, tech leaders are voicing doubts about their ability to sufficiently protect important company information. With IT decision-makers "feeling challenged to protect hybrid cloud, big data and mobile, it's understandable that almost all of them lack the confidence that data protection will be able to meet future business challenges," said Guy Churchward, president of EMC Core Technologies. "We hope (IT leaders will) pause and re-evaluate whether their current data protection solutions are in alignment with today's business requirements, as well as their long-term goals." An estimated 3,300 global IT decision-makers took part in the research, which was conducted by Vanson Bourne.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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