Research reveals average cost of data loss more than US$914,000

New research reveals that organizations are failing to appreciate the growing challenges of protecting their data and, as a result, are experiencing the economic impact of data loss.

The Global Data Protection Index 2016, an independent study commissioned by EMC, looked at enterprise backup in 18 countries around the world, revealing that, while businesses have been successful in reducing the impact of the four biggest traditional data loss risks, they are unprepared for new, emerging threats, which are taking their toll instead. When compared to the EMC Global Data Protection Index 2014, 13% more businesses experienced data loss or disruption in the last 12 months, costing them an average of US$914,000.

“Our customers are facing a rapidly evolving data protection landscape on a number of fronts, whether it’s to protect modern cloud computing environments or to shield against devastating cyber attacks. Our research shows that many businesses are unaware of the potential impact and are failing to plan for them, which is a threat in itself.” said David Goulden, Chief Executive Officer, EMC Information Infrastructure.

Research reveals average cost of data loss more than US$914,000 TechNative

“As a leader in data protection and cloud computing, EMC continues to innovate to stay ahead of both existing and new challenges by providing modern cloud-centric data protection solutions. In addition, today we are introducing the first in a range of new Isolated Recovery Solutions, that are designed to help protect customer data against cyber attacks such as ransomware and destructive hacking.”

EMC commissioned the updated research to help organizations recognize and prepare for the rapidly changing landscape of threats to enterprise data. Survey results from the EMC Global Data Protection Index 2016 identified the following three major challenges to modern data protection:

Threats to data protection

Nearly a quarter (23%) of businesses surveyed had experienced data loss or unplanned systems disruption due to an external security breach and that number increased to over one third (36%) when taking internal breaches into account. Businesses are increasingly facing threats not just to their primary data, but also to their backup and protection data. Whether combating cyber extortionists demanding cash to unlock data encrypted by ransomware, or other risks posed to backup and protection data, businesses need to find solutions that put their ‘data of last resort’ beyond harm’s reach.

Research reveals average cost of data loss more than US$914,000 TechNative

To address this threat, EMC is launching a new Isolated Recovery Solutions line to help organizations “air gap” a protection instance of their data from the networked enterprise. Based on EMC VMAX, EMC Data Domain and EMC Professional Services technologies, EMC’s Isolated Recovery Solutions line is designed to enable businesses to create a virtual panic room for their most valuable data, isolating it from networked systems that could be compromised in a cyber attack. If needed, the isolated instance of protection data can be scanned and restored safely within minutes, offering a Recovery Time Objective (RTO) superior to tape-based backup. Isolated Recovery Solutions offerings based on EMC XtremIO, EMC Unity and EMC Isilon technologies will be available in the near future.

Threats to data in the cloud

More than 80% of survey respondents indicated that their organizations will run at least part of eight key business applications2 in the public cloud in the next two years; yet less than half said they protect cloud data against corruption and less than half against deletion. More than half said they already run their email solution in the public cloud. And, overall, respondents already had, on average 30% of their IT environments based in the public cloud.

Because SaaS application providers often won’t protect against accidental loss or deletion by an employee, EMC believes it is critical for organizations to include cloud applications in their overall data protection strategies. EMC offers a comprehensive portfolio of solutions for cloud-to-cloud and on-premise-to-cloud data protection to facilitate this. These include:  Data Domain Cloud Tier technology, which allows seamless tiering to public clouds such as Virtustream® Storage Cloud; Spanning Backup® technology by EMC, which enables businesses to protect data in applications such as Microsoft Office 365 and Salesforce.com; and Mozy® online backup service by EMC, which empowers businesses to protect endpoint data to the public cloud.

Evolving protection

More than 70% of organizations surveyed are not very confident they could fully recover their systems or data in the event of data loss or unexpected systems downtime. And confidence also suffers when it comes to data center performance, with 73% declaring they are not very confident their solutions will be able to keep pace with the faster performance and new capabilities of flash storage.

EMC has a comprehensive portfolio of data protection solutions that it constantly evolves to deliver greater benefits to its customers. Over the past year, EMC significantly enhanced its portfolio with new solutions, including:

EMC ProtectPoint: Enables businesses to manage the growing challenge of protecting flash environments by protecting directly from primary to protection storage with no traditional backup infrastructure, cutting backup times by 10x and restore times by 20x.
EMC zDP: The first-to-market scale-out automated snapshot solution for mainframe storage that slashes mainframe Recovery Point Objectives by up to 144x.
EMC Enterprise Copy Data Management: A modern management platform that discovers, automates, and optimizes organizations’ copy data.
Data Domain Virtual Edition: A software-defined version of EMC’s trusted protection storage which can reduce storage requirements by 10-30x and includes DD Boost, to speed backups by up to 50%.
VCE Data Protection Appliances – built with Data Domain and EMC data protection software – designed to cut deployment time by 75%.

EMC is able to deliver EMC ProtectPoint, EMC zDP, EMC Enterprise Copy Data Management, Data Domain Cloud Tier, Spanning Backup, Mozy and Isolated Recovery Solutions (based on VMAX and Data Domain) products, technologies and solutions today.  Isolated Recovery Solutions offerings based on XtremIO, Unity and Isilon technologies will be available in the near future.

Tags : Cyber SecurityEMC
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