The Trillion-Dollar Cost of Downtime and Data Loss

 
 
By Dennis McCafferty  |  Posted 01-20-2015 Email
 
 
 
 
 
 
 
 
 
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    Key Component
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    Key Component

    64% of surveyed global IT decision-makers say data protection is "totally critical" to the success of their organization.
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    Stored Knowledge
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    Stored Knowledge

    32% of those surveyed said their organizations store primary data on-premise on physical servers, and 20% opt for on-premise virtualized servers. Only 8% are turning to the public cloud for primary data storage.
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    Disruptive State
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    Disruptive State

    49% of surveyed IT leaders said their organizations have suffered unplanned downtime in the last 12 months, and 32% have experienced data loss.
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    Big Data (Loss)
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    Big Data (Loss)

    The average annual data loss per company amounts to 2.33TB–the equivalent of about 24 million emails.
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    Top Causes of Data Disruptions
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    Top Causes of Data Disruptions

    Hardware failure: 53%, Loss of power: 39%, Software failure: 38%, Data corruption: 29%, Accidental user error: 26%
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    Most Severe Consequences of Data Disruption
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    Most Severe Consequences of Data Disruption

    Loss of employee productivity: 47%, Loss of revenue: 36%, Delay in product/service development: 34%, Loss of customer confidence/loyalty: 24%, Loss of new business opportunity: 20%
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    Shaky Ground, Part I
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    Shaky Ground, Part I

    71% of IT decision-makers surveyed are not fully confident in their organizations’ ability to recover information following an incident, and 87% of organizations are considered behind the curve for data protection maturity.
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    Shaky Ground, Part II
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    Shaky Ground, Part II

    One-quarter of survey respondents said their organizations don't back up any data continuously, resulting in 32 hours of annual downtime (compared to 25 hours for average companies).
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    Dollar Distinction
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    Dollar Distinction

    Companies considered ahead of the curve spend an average of $37 million on data protection, compared to $12 million spent by organizations considered average.
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    Most Difficult Applications/Platforms to Protect
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    Most Difficult Applications/Platforms to Protect

    Big data: 39%, Mobile devices: 37%, Hybrid cloud apps: 30%
 

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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