Intelligent CIO Europe Issue 57 | Page 86


Three steps organisations can take to store and manage data more cost-effectively

As the amount of data continues to surge – largely a result of the pandemic – organisations must find ways to manage their data more cost-effectively and efficiently . Florian Malecki , Executive VP Marketing , Arcserve , offers some best practice advice as to how this can be achieved .

Storage costs continue to skyrocket as data creation rapidly increases and data management grows more complex due to the explosion in remote work . The average cost of storing a single TB of file data is now pegged at US $ 3,351 per year . And that ’ s just the beginning because storage is only one component of total costs . Organisations must also account for IT resources like the hardware , software and personnel required to manage and protect their data .

Every business is becoming more and more digitalised , generating vast amounts of data from product videos , social media posts , customer transactions and data from IoT devices . IDC predicts that the volume of unstructured data worldwide will grow from 33 zettabytes in 2018 to 175 zettabytes ( that ’ s 175 billion terabytes ) by 2025 , an annual growth rate of 61 %. Companies are drowning in data , mainly due to the widespread belief that the worst thing you can do is delete any data . It is understandable because you never know which innocent piece of data today might suddenly become hugely important tomorrow .
Understandable , yes . But is it feasible ? Today ’ s IT decision-makers are confronted with the challenge of balancing the surge in their data volume with spiralling costs – while simultaneously trying to maintain data resilience .
The good news is that some solutions and approaches help IT departments reduce costs while still managing and protecting company data and ensuring Business
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