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Study: Poor data protection costs $400 million annually

Rachel Wheeler Archive
A new study by backup and recovery service provider EVault found that 20 percent of IT organizations in the United States that control multiple terabytes of data have lost information within the past year. These incidents cost roughly $400 million overall every year and can have a negative impact on a company's reputation and data quality.

"When largely preventable data loss conservatively costs businesses hundreds of millions of dollars annually, it is time to rethink your priorities," EVault president Terry Cunningham said. "Our survey reinforces that protecting digital assets can bring far-reaching benefits well beyond that of securing a competitive advantage - it can also prevent significant economic loss."

By incorporating data quality tools within backup and disaster recovery programs, organizations can minimize the chances of losing sensitive information and paying for otherwise unnecessary fines and damages. The study noted that cloud-based services are making quite an impression on companies today for remote storage solutions.

According to IDC, spending on public cloud storage will increase at a compound annual growth rate of more than 23 percent through 2015. By using a hosted solution, organizations can access mission-critical information and solutions from virtually anywhere, without compromising data quality.

Posted by Paul NewmanADNFCR-16001315-ID-800761209-ADNFCR