Tuesday, August 9, 2022

3 things the C-Suite should know about data management and protection

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Simon Jelley, General Manager for SaaS Protection, Endpoint and Backup Exec at Veritas Technologies.

In February, I noted that several CEOs found their 2022 goals conspicuously lacking in commitment to better manage and protect their data—their second most valuable asset. I came to the conclusion that C-suite team members, but especially CEOs, should prioritize data integrity to avoid significant risks to their businesses and their consumers.

If you’re a CEO or another C-suite member who still struggles with this concept, here are three things you should know about data management and protection.

1. You have to care.

As a 21st century executive, you are undoubtedly passionate about extracting the most business intelligence value from your company’s data. But you have to be equally passionate about how it is managed and protected.

Why? Two words: reputation and revenue.

Poor data management and protection can impact your bottom line in many ways, from the downtime and recovery costs of ransomware attacks to digital compliance and administrative fines to a general lack of operational efficiency.

Those consequences, which have a direct negative effect on your profitability, are not even close to the long-lasting halo effect that damages reputation. In fact, my company, Veritas Technologies, found that almost… half of consumers would consider doing business again with a company that has been negatively affected by ransomware.

2. Keep the three Rs in mind.

When it comes to data, there are three concepts — known as the three Vs — to keep track of.

Volume: The total amount of data your company creates.

Speed: The speed at which your company creates that data.

Variety: The number of formats in which data comes in.

All three V’s continue to increase exponentially. In 2010, former Google and Alphabet CEO and executive chairman Eric Schmidt said, “5 exabytes of information were created from the dawn of civilization to 2003, but so much information is now being created every two days and the pace is accelerating.” utilities, current projections puts the total amount of data we will create in 2022 at 97 zettabytes (volume). That means we will be creating the same five exabytes of data almost every 27 minutes (speed). Plus, that data comes from an unprecedented number of sources and formats (variety), so the days of tidy databases filled with structured data are long gone. Some estimates put the amount of unstructured data created at 90% of all business data.

Ultimately, the massive increases in the Three Rs have generally led to inconsistent data management and protection policies among companies around the world. Traditional approaches to data management and protection are therefore no longer sufficient. You must be prepared to support your IT department in meeting today’s challenges. Consider solutions such as autonomous data management, which uses AI-driven technology to fully automate self-sufficiency, self-optimization, and self-healing data management services for the massive amounts of data in the multi-cloud environments that enterprises are migrating to.

3. The cloud can be a friend and enemy.

Whether you realize it or not, your organization is ‘in the cloud’. industry-wide, three-fifths of all company data will be stored in the cloud in 2022. spending on enterprise cloud computing on track to exceed spending for on-premises solutions in all key areas of IT infrastructure by 2025.

The cloud makes a lot of sense for many reasons. It is flexible, with scalability and mobility; efficient, including accessibility and speed on the market; and cost-effective, as it includes pay-as-you-go models and helps eliminate hardware costs. But it can be a fickle beast, especially in this increasingly multi-cloud world. This refers to the way corporate data is distributed across on-premises data centers and the many private and public cloud service providers.

This evolution is not without reason, but it can also affect the return on investment of the cloud benefits. For example:

• Moving to the cloud doesn’t mean your organization is buying an outcome. You just buy infrastructure. The ultimate responsibility for your cloud-based data – and the role of managing and protecting it – still rests with your IT department.

• Because of the cloud computing usage model, poor data management in multi-cloud environments can quickly lead to skyrocketing costs that negate any cost benefits.

• Complexity and vulnerability go hand in hand. Increased complexity equates to a greater potential attack surface for ransomware and other data integrity threats.

If you’re new to data management and protection with your CIO and CSO colleagues, use these three points to start a conversation. You’ll be glad you did, and so will she.

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