The data explosion – Seagate and IDC’s recent report, Rethink Data, predicted that the world’s data storage will continue to grow at an astounding rate. This growth, which is being fueled by new technology users and emerging technologies, creates opportunities. However, raw data is only valuable if it is useful — which, in the modern era, the vast majority is not. As a result, businesses miss out on 68% of available data, according to Rethink Data.
This is because managing large datasets is difficult and expensive. Indeed, IT leaders frequently discard data because the cost of retaining it is prohibitively expensive, despite the potential for significant future payoffs. And even if they choose to keep it, the total cost of ownership associated with storing massive data sets in the public cloud can be enormous — especially when hidden costs such as data transfers, common API calls, and egress fees are considered.
This is the CIO’s challenge: how do you develop a cost-effective data management strategy that enables intelligent data capture, storage, and analysis? The solution is to implement more efficient and scalable end-to-end data storage solutions — but selecting the right solution is not always straightforward.
How data is stored can make it a boon or a burden
The days of simply purchasing larger hardware to increase data capacity are over. Due to the complexity of selecting the right solution, businesses frequently end up with an imperfect fit, turning data into a burden rather than an asset.
Both cloud-based and on-premises solutions have advantages. While the cloud enables the creation and hosting of numerous applications, on-premises infrastructure can provide superior security, performance, and cost control. While astute business leaders understand that combining the two via a hybrid model can provide the best of both worlds, fewer understand the critical nature of tailoring that hybrid to their specific business needs.
For example, a business that requires rapid development and updating of consumer applications may prefer public cloud but wishes to retain on-premises storage of sensitive consumer data. A videogame developer working with large files may want to prioritise on-premises data transfer benefits over cloud customer support.
Rather than tinkering with obsolete hardware or paying for unnecessary cloud storage, having the right storage systems enables businesses to look ahead, adopt new technologies, and capitalise on growth opportunities.
Future-proof performance and scalability
The storage infrastructure of a business has an impact on more than just its capacity and flexibility. Data storage also serves as the foundation for performance power, which must grow in lockstep with data demands. The film industry is an extreme case in point: as the quality and resolution of animation improves, file sizes increase, as do the demands on IT infrastructure.
Setting up for success
There is unlikely to be a better time to review your data storage practises and locations. The pandemic has thrown the rulebook out the window, while data-hungry emerging technologies such as AI and IoT are beginning to live up to their enormous promise. The world has never been more reliant on technology.