Digitalization has ushered in a data explosion in all organizations across all industries. Data volumes have continued to grow at a breakneck pace with no signs of abatement, thereby significantly altering the storage industry and its priorities. The disruption with cloud, cyber resiliency, application-driven economy and demands for transformation, are driving organizational strategy focused on management of storage solutions. IT leaders welcome this new world order as their organizations have benefited from improved business operations, personalized customer experience and agile innovation
But benefits often come hand-in-hand with challenges.
The increased reliance on data meant that organizations and their IT infrastructure are at greater risk from malicious attacks, human errors and negligent behaviors. Researcher ESG reported that 79% of companies globally had experienced a ransomware attack over the past year. Yet, according to our Global Data Protection Index Survey, 67% of IT decision-makers are not confident that their business-critical data can be recovered in the event of a cyberattack.
Furthermore, the permanence of digital transformation, accelerated by the pandemic, meant that data storage would require greater attention and investment; and cyber resiliency could no longer be an afterthought.
A Matter of When, Not If
In 2017, the WannaCry malware attack grabbed global headlines, and the man on the street quickly learned of a new word: ransomware. Today, threat of a cyberattack is real; unfortunately, no organization is immune to these bad actors. Cyberattacks are increasingly sophisticated, malicious and expensive. In a survey by Accenture, 81% of leaders think that staying ahead of attackers is a constant battle, and the cost is unsustainable. That is because the cost implications are even greater if we consider the negative impact on an organization’s reputation and stakeholder confidence. Here’s the bottom line: enterprise data is the golden goose, and protecting it is a business imperative. IT leaders need to think of storage as a part of a surround-sound security strategy.