Downtime, data loss cost over $1.7t last year

Staff writer
18 Dec 2014
00:00

Data loss and downtime cost enterprises $1.7 trillion in the last 12 months, or the equivalent of nearly half of Germany’s GDP, according to EMC.

In a study conducted by Vanson Bourne for EMC, findings show that data loss was up by 400% since 2012.

The study, which covered 3,300 IT decision makers from mid-size to enterprise-class businesses across 24 countries, also showed that 71% of organizations are still not fully confident in their ability to recover after a disruption.

Findings show that in the last 12 months, 64% of enterprises surveyed experienced data loss or unexpected downtime averaging 25 hours or more than three working days.

Other commercial consequences of disruptions were loss of revenue (36%) and delays to product development (34%).

Business trends, such as big data, mobile and hybrid cloud create new challenges for data protection, with 51% of businesses lacking a disaster recovery plan for any of these environments and just 6% have a plan for all three.

In fact, 62% of those surveyed rated big data, mobile and hybrid cloud as ‘difficult’ to protect while 30% of all primary data located in some form of cloud storage, this could result in substantial loss.

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