• IT study: Data loss hits businesses

    IT study: Data loss, downtime cost PH firms $8B yearly

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    Businesses in the Philippines lose more than $8 billion a year in the value of data lost and downtime, according to a global information technology (IT) study that ranks the country 13th out of 24 nations surveyed on data protection and recovery.

    The study, called the EMC Global Data Protection Index, was conducted by the UK-based market research firm Vanson Bourne and was commissioned by IT provider EMC Corp.

    Vanson Bourne surveyed 3,300 IT decision makers from mid-size to enterprise-class businesses across 24 countries, including 125 respondents from the Philippines.

    China, Hong Kong, the Netherlands, Singapore and the United States lead in protection maturity, while countries such as Switzerland, Turkey, and the United Arab Emirates (UAE) lag behind the Philippines.

    Data loss a growing problem
    The study revealed that 80 percent of Philippine enterprises surveyed experienced data loss or downtime in the past 12 months, costing them an estimated $8 billion worth of data lost.

    The study also pointed out that global data loss has increased by 400 percent since 2012, and that 66 percent of local organizations are still not fully confident in their ability to recover from a disruption.

    Most PH businesses unprepared
    This means that most Philippine businesses still lack data disaster recovery plans for emerging workloads, while just 6 percent have plans for big data, hybrid cloud and mobile, the study said.

    According to the survey’s ranking system, only 2 percent of Philippine companies are data protection “leaders,” 9 percent “adopters” and the remaining 89 percent “behind the curve.”

    The study pointed out that adopting advanced data protection technology dramatically diminishes the likelihood of disruption.

    It also showed that Philippine companies that had not deployed a continuous availability strategy were almost thrice as likely to suffer data loss than those that had implemented such a strategy.

    “As businesses continue to struggle to protect their current workloads, the findings from this global study show that many enterprises in the Philippines are still ill-prepared to face the protection challenges that come with emerging data storage technologies,” said Ronnie Latinazo, EMC Philippines country manager.

    He said with data protection technology evolving in parallel with the challenges that are emerging, businesses in the Philippines will find it easier to protect themselves by staying abreast of these developments.

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