Worldwide Spending on Business InformationBy Fahmida Y. Rashid
Businesses today are storing 2.2 zetabytes of data. If one sheet of paper contains 10 kilobytes, a stack of paper containing 2.2 zettabytes would be 1,287 Empire State Buildings high.
Information is Valuable
SMBs said their information accounted for 40 percent of their overall value, while the number was closer to 50 percent for enterprises.
Worldwide Spending on Business Information
Total : $1.1 trillion dollars
Information is expected to grow 67 percent over the next year for enterprises, and 178 percent for SMBs.
Enterprises on average spend nearly $38 million on storing and protecting their data, while SMBs spend nearly $332,000.
SMBs Pay More
On average, SMBs pay $3,670 per employee to store and protect data, while enterprises spend $3,297.
Approximately 37 percent said loss of data would result in decreased revenues and 41 percent worried about increased expenses. The top two results of losing data were brand damage and loss of customers.
In the past year, 69 percent of businesses experienced some form of information loss, due to human error, hardware failure, security breach, or lost and stolen devices.
Nearly 31 percent of organizations reported compliance failures related to data storage and protection. In addition, 69 percent of the organizations had confidential information exposed.
SMBs Losing Data
While 69 percent of organizations globally said confidential information had been exposed, the figure shot up to 91 percent for the SMBs.
Nearly 29 percent of the SMBs said information sprawl was a factor in the data being exposed outside the organization.
There Are Many Copies
Companies on average estimated that as much as 42 percent of their information is duplicated data.