At least 73% of organisations admit to not being able to meet users’ demands for uninterrupted access to data and services, costing a typical enterprise $20 million a year, a new survey by Switzerland-based cloud solutions provider Veeam has showed.
According to the survey, the amount of data generated has exploded and by 2025 the world will generate more than 175 Zettabytes of data each year by 2025, up almost two-thirds from 2018.
The survey, which saw participation of more than 1,500 senior business and IT leaders from 13 countries, 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.
This highlights the impact downtime can have on lost revenue, productivity and customer confidence. However, this year’s study shows that organisations 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, it added.
“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.... There is a significant opportunity and competitive advantage for those who effectively manage their data," said Ratmir Timashev, co-founder and executive vice president of sales and marketing at Veeam.
The report also said that organisations 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 invest on average $41 million in 2019 on such technologies.
It also said that more than half of those surveyed are looking to deploy intelligent data management and multi-cloud solutions across the business.
The report pointed out that 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. About 41% 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.
In the last week of May, cloud services provider Veeam Software had crossed $1 billion in annual bookings. The Swedish firm had said in a statement that it also surpassed 350,000 customers by adding new ones at a rate of more than 4,000 each month.
Also in May, enterprise cloud computing company Nutanix Inc. and Veeam had collaborated to launch a product called the Nutanix Mine.
The full stack solution will allow companies customers to move from the project planning phase to the protection phase without any costs and overheads of standalone systems.
In April, the company had said that it posted double-digit growth for the first quarter of 2019, thanking the availability of a new subscription model.
Veeam had seen a 30% increase in annual receiving revenue and 16% growth in total bookings year-on-year due to the accelerated adoption of hybrid cloud by its businesses.