Data loss, net failure costs a fortune

Data loss, net failure costs a fortune
Highlights

Data Loss, Net Failure Costs a Fortune. Data loss and downtime cost Indian businesses a whopping $54 billion annually, IT major EMC corporation said in a report.

New Delhi: Data loss and downtime cost Indian businesses a whopping $54 billion annually, IT major EMC corporation said in a report. According to EMC’s Global Data Protection Index, which was conducted by market research firm Vanson Bourne, companies worldwide lost 400 per cent more data on average over the last two years that is equivalent of 24 million emails each year.

“Data loss and downtime cost Indian enterprises $54 billion in the last twelve months,” the study said. “Seventy per cent of enterprises surveyed experienced data loss or downtime in the last 12 months, while the average business experienced more than 2.5 working days (23 hours) of unexpected downtime in the last 12 months,” it added.Other commercial consequences of disruptions were loss of employee productivity (58 per cent) and loss of revenue (50 per cent), the study revealed.

“As businesses continue to struggle to protect their current workloads, the findings show that many enterprises in India are still ill-prepared to face the protection challenges that come with emerging data storage technologies,” EMC India country manager (data protection and availability division) Surajit Sen said. With data protection technologies evolving in parallel with challenges that are emerging, businesses in India will find it easier to protect themselves by staying abreast of developments and thinking strategically, he added.

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