CIOs Challenged by Big Data Costs

By Dennis McCafferty  |  Posted 05-15-2014 Email

Big data is emerging as a big budget headache for tech departments, according to a recent survey from Storiant (formerly known as SageCloud). The majority of CIOs are responsible for the storage of at least 500,000 gigabytes of data. What's more, the number of companies that will store one petabyte to one exabyte of data will grow significantly within two years. (To put these figures in perspective, it takes only two petabytes to house everything that exists in all of the academic research libraries in the U.S.) The bottom-line news? The cost of data storage is resulting in an annual seven-figure bill even for organizations that are at the low end of those numbers. For all of the expense, you'd think CIOs would have easy, instant access to all of their data, but that's not the case, findings show. "Storage costs for growing data needs are getting out of control," says Jeff Flowers, founder and CEO of Storiant. "As currently architected, today's storage solutions aren't capable of handling the new kinds of data that businesses are storing and analyzing for strategic purposes. [This] highlights a costly reality for those looking to leverage big data for competitive advantage. However, it also emphasizes an opportunity for tectonic-size shifts in the storage industry—which we are already starting to see." A total of 100 U.S. CIOs participated in the research. For more about the survey, click here.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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