Cloud Computing News

CXO Research reveals the possibility of financial loss due to Poor Data Management

According to the latest industry survey results released by Veeam, 73% of organizations admit to not being able to meet users’ demands for uninterrupted access to data and services, costing the typical company $20 million a year. This highlights the devastating impact downtime can have on lost revenue, productivity, and customer confidence. However, this year’s study shows that organizations are acting to combat this, with nearly three-quarters (72%) looking to embrace Cloud Data Management, often by exploiting hybrid cloud capabilities, to ensure success and drive more value from their data.

The 2019 Veeam Cloud Data Management Report found that organizations are on a journey to become a more intelligent business, meaning they are leveraging technologies such as Cloud Data Management and AI to create a real-time view of the collective business and the ability to act intelligently on that insight. Amongst the businesses on this journey, the study highlights four common components globally – Cloud, Capabilities, Culture and Confidence. 

Almost half of respondents admit that data protection is imperative to leverage these investments. Alarmingly, only 37% of businesses are very confident in their current backup solutions, with the majority (73%) admitting that they cannot meet user demands. This inhibits the adoption of tools and processes that can drive business advantage, but leaders recognize work needs to be done; more than half of those surveyed are looking to deploy Intelligent Data Management and multi-cloud solutions across the business to address this failing.

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