With Business Intelligence (BI) platforms at your disposal, your organization can use data analytics to make better decisions regarding its future. However, using business intelligence platforms requires certain steps so that you can make the most of it. Here’s what you need to do to make proper use of your data. Read More
- Published: 15 Oct 2021
How much does your business spend annually on data storage and data warehousing? Considering the fact that we live in a society where immense amounts of data are stored and housed online, you might be surprised by how much you actually spend on this incredibly important aspect of running a business. In fact, we’re willing to bet that you’re spending too much.
You might wonder where this bold assumption comes from, and in all honesty, it’s just plain logical to assume. Consider how much business has changed over the past several years. The cost of storing a terabyte has significantly decreased, but is this decrease enough to offset the amount of data that your company stores? More advanced technology naturally leads to greater size files to store, and this can all dramatically increase your data storage needs.
Having a large data infrastructure also tends to come saddled with other large price tags. Consider the fact that you’re paying not only to host and store that data, but also to back it all up on the off-chance that something happens to go wrong with it. On top of all that, you are also paying to store those backups somewhere. You can see how the costs can multiply and become problematic for companies, especially those that are trying to cut costs and create a more efficient budget.
A study performed by Komprise, a provider of data management tools, found that 65 percent of organizations surveyed spend more than 30 percent of their IT budgets on data management and storage. Even more--approximately 33 percent--spend more than 35 percent, and 31 percent spend more than 40 percent. It’s safe to say that data management and storage make up a pretty hefty chunk of most companies’ IT budgets.
As for operational goals, the survey showcases that there are three primary ones for businesses: investing in analytics, reducing storage costs, and improving visibility. Where does your business fall on this spectrum? How do you fight back against the challenge that comes from trying to outpace the rapid rate at which organizational data grows?
Well, the good news is that you don’t have to have all of the answers, and you don’t have to do it alone.
If your organization is looking to cut costs down in terms of data management and storage, look no further than Compudata. With our storage solutions informed by industry-standard best practices, you can rest assured that you are getting the best deal out there for storing and maintaining your data infrastructure. To learn more about what we can do for your business, give us a call at 1-855-405-8889.