Businesses Are Losing Money Over Data Management Deficiencies

Across the world, more than 2.5 quintillion bytes of data are created daily. You read that right—2.5 quintillion! Let’s look at that number another way: over 2.5 trillion megabytes of data are created daily. That is the equivalent to 500 million 4-minute songs. And most of the world’s data has been created in the last 4 years. This presents a new problem people couldn’t fathom 10 years ago – data sprawl.

Defining Data Sprawl

Data sprawl is the word used to describe the colossal amount of data that is being created by enterprises daily. But the problem is that so much data is being created that it is becoming increasingly difficult to manage. An IDC White Paper study commissioned by Rubrik brought some more insight into the ever-growing issues of data sprawl.

In conjunction with the study, the director at IDC Phil Goodwin said, “Valuable data is now commonly spread across multiple physical locations and different repository types. This creates a problem of data sprawl and fragmentation, meaning that appropriate stakeholders do not have access or know where to find the right data to make informed business decisions. As a result, they are unable to leverage their data to its fullest extent. It also stymies robust AI, machine learning, analytics, and compliance solutions that need enterprise visibility to operate optimally.”

The Results of the IDC White Paper study

Like Goodwin describes, the results of the IDC study showed that those who have not implemented data management solutions are at a severe disadvantage to those who have. The study revealed that businesses without any data management solution incurred 66 percent more operational costs. Additionally, they were 67 percent slower to market than their contemporary competitors. 

In contrast, those with data management solutions earned 69 percent more revenue and 57 percent more profit than their legacy competitors. Putting the money aside, businesses with data management solutions still were at an advantage and reported 72 percent greater customer satisfaction and were able to deploy 62 percent more new products and services than their competitors, giving them a huge advantage in their perspective markets. The study also reported that the staff of these businesses were 24 percent more productive.

The Solution

The study also showed that only 9.2% of the companies who were surveyed had implemented some type of data management solution. It’s obvious that these businesses need to do something about the large amounts of data they are producing every day, or risk becoming obsolete. 

“As the amount of data generated by enterprise organizations continues to skyrocket, a powerful, policy-driven data management platform is imperative to business success,” observes Chris Wahl, Chief Technologist at Rubrik. “Many organizations still struggle to manage and secure their data as they adopt cloud strategies, which will only contribute to the data fragmentation problem.”
Businesses looking to leverage their data stores for increased profits should look no further than Rubrik, which offers solutions to data sprawl. Since its beginnings, Rubrik’s mindset has been focused on providing insight into customer data and its solutions have mirrored that focus. Its data management platform easily connects to all different types of environments and backs up to the cloud, helping customers consolidate their data center space. To learn how Rubrik can help your business manage your data, visit our website or give us a call at 385-283-1800.