Over
the past decade, the amount of data generated has exploded; data growth and
sprawl is so rampant that by 2025 we will generate more than 175 Zettabytes of
data each year, up almost two thirds from 2018. Organizations need to manage and protect this data
no matter where it resides, but according to the latest industry survey results
released today from
Veeam Software,
the leader in Backup solutions that enable
Cloud Data Management, 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 surveyed more than 1,500 senior business and
IT leaders from 13 countries and found that respondents are aware of the
importance of data management to their business' success, pointing to greater
productivity today, and the potential to drive business transformation in the
future.
"We are living in a
data-driven age, and organizations need to wake up and take action to protect
their data. Businesses must manage their data in a way that always delivers
availability and leverage its value to drive performance. This is no longer a
luxury, but a business necessity. There is a significant opportunity and
competitive advantage for those who effectively manage their data. Ask
yourself, are you confident that your business data will always be available?
If you are unsure, it's time to act, and our study shows that many are not
acting fast enough," said Ratmir Timashev, Co-Founder and Executive Vice
President (EVP) of Sales & Marketing at Veeam.
Organizations are looking to
embrace the power of technologies such as the cloud, or hybrid cloud, Big Data,
Artificial Intelligence (AI), and the Internet of Things (IoT) to drive
business success and will each invest on average $41 million in 2019 on such
transformational technologies. 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.
There are big benefits to be
had from the deployment of digital initiatives as organizations on average
attribute $124 million additional revenue [per company] to these annually.
However, these findings shine a light on the global disparity in digital
adoption. Some of the world's largest economies are at risk of having to play
catch-up when it comes to their investment in digital innovation. Forty-one
percent of Japanese businesses and 48% of Brazilian businesses described their
data management as mature, compared to just over a quarter in France and
Germany, and just 11% in the UK. Crucially, change does not appear to be on the
horizon, with Japanese and Brazilian organizations intending to invest on
average $105 million and $73 million respectively in Cloud Data Management in
the next 12 months, markedly larger than the average organizational investment
expected in the UK ($14 million), China ($17 million) and US ($38 million).
Timashev added: "We're seeing
a global digital arms race develop today, with some of the world's most
advanced economies at risk of being left behind when it comes to their digital
adoption. It's essential that organizations get the right digital foundation in
place to intelligently manage their data and safeguard their future. To achieve
this, businesses must be united internally, with IT and the business working
collaboratively and addressing cultural and skills challenges."
Journey to a more
intelligent business
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: Cloud Data Management is a key component of
delivering Intelligent Data Management. Three-quarters of companies report
using Software-as-a-Service (SaaS) platforms. Many are utilizing the cloud
for their backup and recovery services, with 51% using Backup-as-a-Service
(BaaS) and 44% using disaster recovery-as-a-service (DRaaS). It is evident
that leaders are recognizing the advantages of a multi-cloud and
hybrid-based approach, citing cost, reliability, flexibility and data
security of the cloud as their main reasons for choosing it.
- Capabilities: Organizations must enhance their capabilities,
to ensure employees can draw on data insights and use new technologies as
they are deployed, with 9 out of 10 businesses viewing upskilling
employees' digital skills as vital to their digital success.
- Culture: Creating a culture that is adaptable and
receptive to new technologies so that people can evolve with the
organization is essential, with more than two-thirds of respondents
believing that company culture needs to become more open and accepting to
digital technologies.
- Confidence: Organizations must create a sense of confidence
in the business' digital capabilities, built on a strong data foundation.
Presently, only a quarter of respondents report total confidence in their
capability to meet their digital challenges.
What is clear from the 2019
Veeam Cloud Data Management Report is that the time for action is now. This starts
with a strong digital foundation, which ensures that data is backed up and
always available. With this in place, organizations can confidently deploy new
digital initiatives, leveraging the business value and competitive advantage
for today and in to the future, and harness the potential of Cloud Data
Management.