Businesses are set to process greater volumes of data. The report found that 86 percent of respondents are of the view that data volume will increase ten-fold over the next five years. While there is a clear business need for the data increases, 80 percent of firms stated concerns with the risk that ever-increasing volumes of data will have on the company.
The risks are: rises in operational costs; an inability to recover rapidly following a data outage; greater susceptibility to cybersecurity risks; a chance that strategic projects will fail; and an impact upon revenue generation.
Currently, many companies report they are struggling with data growth plus their ability to recover in the event of an outage. In relation to this, just 15 percent of respondents stated they have an appropriate IT infrastructure which permits them to recover from a severe data loss within the first hour of the event…
