As the world embraces the new era of mobile, many markets are also struggling with concerns related to data protection with data loss; in a market such as Singapore, the loss is up to 400 per cent. The data lost and downtime costs over USD 1 billion to enterprises in a year, according to a global data protection study by EMC Corporation. The research says 70 per cent of the information technology professionals are not equipped to retrieve the data.
“As businesses continue to struggle to protect their current workloads, the findings from this global study show that many enterprises in Singapore are still ill-prepared to face the protection challenges that come with emerging data storage technologies,” said Eric Goh, Managing Director of EMC Singapore.
Those using three or more vendors to supply data protection solutions lost 13 times as much data as those who unified their data protection strategy around a single vendor. Also globally, those with three vendors were also likely to spend an average of USD 3 million more on their data protection infrastructure compared to those with just one.
Further, the research also pointed out that companies with three or more vendors lost 4.32 times as much data as those with a single-vendor strategy and 43 per cent of organisation do not have a disaster recovery plan for emerging workloads.
However, Singapore still ranks fourth out of 24 countries surveyed. China, Hong Kong, The Netherlands, Singapore and the US lead protection maturity, while Switzerland, Turkey and the UAE lag behind.
As a new wave of data protection is emerging, business trends, such as big data, mobile and hybrid cloud create new challenges for data protection in Singapore. According to the study, 43 per cent of businesses lack a disaster recovery plan for any of these environments and just 6 per cent have a plan for all three.
It is undeniable that adopting advanced data protection technologies dramatically decreases the likelihood of disruption. And many companies turn to multiple IT vendors to solve their data protection challenges. Nevertheless, deploying these tactics may increase risks.
Companies in Singapore that had not used a continuous availability strategy were almost twice as likely to suffer data loss as those that had, according to the research.
“With data protection technologies evolving in parallel with the challenges that are emerging, businesses in Singapore will find it easier to protect themselves by staying abreast of the developments and thinking strategically about data protection, in order to better prepare themselves from unplanned and costly incidents that may result in downtime and data loss,” Mr Goh said.
Closely observing the Maturity Matrix suggests that 80 per cent of businesses in Singapore rank in the bottom two categories for data protection maturity. Across all the countries surveyed, China has the greatest number of companies ahead of the curve at 30 per cent and the UAE the least with none.
“This research highlights the enormous monetary impact of unplanned downtime and data loss to businesses everywhere. We hope the global data protection index will prompt IT leaders to pause and reevaluate whether their current data protection solutions are in alignment with today’s business requirements as well as their long term goals,” said Guy Churchward, President of EMC Core Technologies.
EMC Global Data Protection Index, by Vanson Bourne, surveyed 3,300 IT decision makers from mid-size to enterprise-class businesses across 24 countries, including 125 respondents from Singapore.