Data Explosion

By Fahmida Y. Rashid

Information Overload

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

Data Explosion

Information is expected to grow 67 percent over the next year for enterprises, and 178 percent for SMBs.

Storage Spending

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.

Catastrophic Losses

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.

Unprotected Information

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.

Compliance Challenge

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.

Information Sprawl

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.

This article was originally published on 07-11-2012