One study by research agency IDC came to the conclusion that a large number of companies – in this age of increasing data volumes – reap no or little benefit from that data, simply because it’s being poorly archived. To determine this, the specialists surveyed more than 1,000 international managers responsible for archiving data at companies with 500 employees.
Savings in the Millions
The market study “Perspectives on the Data Jungle: The Rediscovery of the Data Archive” establishes that companies with functional IT processes and IT archives profit from having these in multiple ways at once.
One way is in the form of lower costs: more than half of those surveyed stated they had saved more than 800,000 euros through risk mitigation alone. Some companies even reported cost savings as high as nine million euros. Savings through rationalization and lower operating costs were estimated by the most successful 18 percent of those surveyed at the same level – another nine million euros.
However, many companies are working from a miscalculation: three quarters of them believe they are already getting everything possible – or, if not, then at least adequate value – from their archives. And they believe this even though not even 40 percent use their archive for analyses that could pay off in cold hard cash by allowing them to learn more about their markets, their customers, or their own services.
Ducking the Issue Isn’t a Solution
Why do companies insist on the status quo and “duck” the issue? Many simply don’t trust that they know how to handle the topic. They do recognize that data volumes are increasing. They have some idea of the potential lying dormant in their archives. But they also know that they may be operating multiple archives in parallel and without a unified data structure, or that they’re working with archiving processes that have developed over time in a heterogeneous manner.
Decades of Dung…
Standardizing and streamlining all this, and creating transparency, might seem like a Sisyphean task. Or, to stick with Greek mythology for a moment, maybe more like the Augean stables Hercules cleaned of decades of dung in one day. But one thing’s for certain: you don’t need Hercules to meet this challenge. With a powerful IT service provider like EASY on your side you’ll succeed – even without the help of a demigod.