2.2 zettabytes of business data is stored online
Jun 27 2012, 13:18 PM
As more businesses use the internet, an increasing number of companies are using data management as part of their operations.
Information is stored for a variety of means, ranging from confidential customer details to financial transactions and intellectual property, which has led to the worldwide amount of data rising in recent years.
Symantec's State of Information Survey found that organisations across the world now hold a collective total of 2.2 zettabytes of data.
The study also discovered that an average amount of $38 million (£24.32 million) is being spent on data storage every year by larger enterprises, whereas $332,000 is the average outlay of small to medium-sized businesses (SMBs).
SMBs have an average amount of 563 terabytes of data, which is markedly lower than enterprises, for which the figure rises to 100,000 terabytes.
The research also estimates that information stored by enterprises and SMBs will jump by 67 per cent and 178 per cent respectively over the next year,
Respondents also commented on the ramifications of losing data, with 49 per cent expecting that these incidents could lead to lost customers and 47 per cent citing damage to reputation and brand as potential consequences.
Francis deSouza, Group President of Enterprise Products and Services at Symantec Corp, said: "The vast amount of information that organisations produce today can help them better serve their customers and increase productivity.
"However, the same information can also become a major liability if it is not properly protected."
In order to assist businesses to adopt secure data management measures, the Information Commissioner's Office (ICO) recently introduced a new guide.
It covers areas including physical security, anti-virus defences and employee awareness.
Organisations that do not adhere to data regulations could face a fine from the ICO, which can be as costly as £500,000.
Mr deSouza re-affirmed the importance of good data management, explaining: "Companies that effectively use their information will have a major competitive advantage over those who cannot, and in some cases it can be the difference between success and failure."