With a ‘data hoarding’ culture on the rise, the growth of redundant data is higher than ever and it’s a problem that is costing your business more than you think.
Redundant data should really be viewed for what it is: duplicate data hoarded by a company and stored in multiple sites. The impact on a company struggling with redundant data is multi-faceted. Spending time, energy and most importantly money are the most obvious and major issues.
In fact, research from Experian Data Quality has shown that the hidden cost of redundant data could be greater than that of 12% lost revenue. Further, 21% of businesses will experience reputational damage as a result of redundant data.
In a majority of cases, businesses are completely in the dark about the amount of redundant data they are actually storing. This data can affect everything from your system’s performance by taking up more space and then comes the other problem of inaccurate results. If you think that’s it when it comes to redundant data think again.
What is the True Cost of Redundant Data?
It’s been discovered that over half of the information stored by businesses is considered as ‘dark’, meaning it has no value to daily operations and it’s just taking up space on your server. Additionally, over a third of data is obsolete or redundant, and therefore is known to be completely unusable. The gradual impact of redundant data is set to cost you both money and customers.
The key here to counting the cost of redundant data for any organisation is to realise how much time and money is wasted. Unwanted data can cause internal operations to become slow. Over time, this can have an impact on the competitiveness of your business and will gradually put you in your customer’s bad books.
It is estimated that redundant data and its associated problems will cost organisations around the world a staggering $3.3 trillion by 2020! Further, managing an outdated system which contains duplicate and redundant data can make it harder for your business to adopt new technology making your business less competitive in the future.
If this all sounds familiar to you, then file archiving is probably the answer. As data grows exponentially, the cost of managing it also grows at an alarming rate. An archiving system can compress, de- duplicate and move data to drastically reduce overall data storage in your organization.
Archiving can also improve server reliability and performance, reducing back up costs and times. Crucially, file archiving does not mean losing or deleting data. There may be vast amounts of business intelligence in old data and all archived data remains accessible, and retrievable.
The Simple Answer to Managing Your Data
Do you really want to pay tens or hundreds of thousands of pounds to instantly recover and restore files that have not been read for five years? We don’t think most people do and we have a simple answer. With the release of FileAnalyzer Cloud, Waterford Technologies can help your company identify and analyze the growing amount of redundant data and information lurking on your existing system.
At Waterford Technologies our services are built around reporting, which is as simple as going in and running our software before helping our customers understand what data they actually do have on their file servers.
By taking advantage of Microsoft Azure scalability and flexibility, FileAnalyzer Cloud can support any size organisation, providing a framework to assist in determining the true value of data and enforcing the day-to-day management of that data according to that value judgement.
Try FileAnalyzer Cloud Today
Over 40% of stored data has been untouched for about 3 years, but with FileAnalyzer Cloud on hand to help with the clear up, you can free up about 80% of files in a flash.
Data stored by organisations is increasing at an alarming rate year on year and here at Waterford Technologies we want to maintain our position as market leaders in providing the tools to manage this ever increasing data growth.