Research From Quantum and ESG Reveals Top Challenges in Data Management DARKReadingResearch From Quantum and ESG Reveals Top Challenges in Data Management DARKReadingResearch From Quantum and ESG Reveals Top Challenges in Data Management DARKReading
Impact Investing Forum 2023
London. Dec 05-06, 2023.
SAN JOSE (Calif.), February 1, 2022– Quantum Corporation (NASDAQ : QMCO), today released new survey data which reveals the most common problems organizations face in data management, storage, and analysis. ESG Research conducted the survey in fall 2021 and surveyed hundreds of IT professionals from North America, the UK, and Asia-Pacific. Unstructured data is growing rapidly and remains crucial to business growth. According to the survey, seven out of ten managers place their data at the heart of business growth. However, there are key trends that will impact the success of capitalizing upon this data. The survey results show that changing data models can create challenges for managers, making data more vulnerable to security threats like ransomware attacks. This can have a devastating effect on businesses. Key findings from the survey include: Unstructured data management, storage complexity and cost remain barriers to adoption, resulting in valuable data being discarded or mismanagedRespondents see unstructured data as underleveraged and overly complex: 52% of c-level respondents strongly agree that the opportunity exists for their organization to better leverage its existing data to create business value. 38% of respondents strongly agreed that it is difficult to understand the data that can be used to create business value, despite its promise. Data quality and storage cost are two of the biggest obstacles to data management strategies. Data quality (42%), and data storage costs (38%) are the top two challenges in data management. Data retention is a top priority: 78% of organizations don’t store data on primary storage for as long as they would like. 88% of respondents believe that retaining more data is a way to increase business value. However, 80% of respondents feel that deciding which data to delete is difficult and time-consuming. Organizations have difficulty deciding when to delete data. More than half (58%) of those surveyed feel that they have recently deleted data that has value. Data protection and compliance issues are the main reasons valuable data is being deleted before it can be used to create business value. Data sprawl and hybrid cloud models lead to vulnerable environments. 78% of respondents to the survey said that their organization often migrates data between environments (cloud or on-prem), with a majority opting for hybrid cloud models, which store most data on a public infrastructure while some data is kept on-premises. Data spawl can make managing data more difficult: 88% of respondents said that distributed data makes it difficult to implement an end-to–end data strategy. Data migration is a security concern: 87% say that securely moving data from one place to another is a concern. This combined with a lack formal data destruction and retention strategy (74%) means that nearly three quarters of the organizations surveyed have not established their data destruction and retention strategies. This creates an environment conducive to ransomware attacks and cyber-attacks. New approaches are needed to address the growing cybersecurity threats. Two out of five respondents said that their company had been the victim of a ransomware attack in recent years. 82% of organizations defaulted to paying the ransom. Ransomware can impact more than budgets. The survey found that ransomware attacks can impact productivity and cost organizations $375K. This is approximately 2.1 hours of downtime to a mission-critical workload. Security concerns are increasing, but strategy is lacking. 87% of those surveyed said their executives are worried about future ransomware attacks, while only 6% could restore from an air-gapped back up solution. It is crucial to have cost-effective data retention. 65% of our respondents believe that their organization would be better able to recover from an attack if it could store their data for longer periods. There is a need for better and more cost-effective data management solutions. This is due to increased enterprise security threats. Scott Sinclair, ESG, stated that Quantum’s research shows the importance of enterprises having a data management plan. This strategy includes accessing, archiving and analyzing the huge amounts of data generated by these companies. Without the right strategies and solutions, organizations miss out on the potential value of these data and are vulnerable to ransomware and other cyberthreats. ### About QuantumQuantum technology and software provide the solutions that organizations today need to make video and unstructured data more intelligent. This allows them to make their data work for them, not the other way round. Quantum’s end to end platform has over 40 years of innovation. It is uniquely equipped for orchestrating, protecting, enriching and enriching data throughout its lifecycle. This provides enhanced intelligence and actionable insight. Quantum is trusted by top organizations in cloud services and entertainment, government, education, research, transportation, and enterprise IT because data makes life easier, safer, and more intelligent. Quantum is listed on the Nasdaq (QMCO) Index and the Russell 2000 (R) Index. For more information visitwww.quantum.com.