How IT Can Manage Data Archiving Cost-Effectively
Organizations are saving literally millions in risk mitigation and reduced operational and capital costs through effective use of their data archiving systems, according to a recent survey from Iron Mountain. However, the accompanying report, "Mining for Insight: Rediscovering the Data Archive," states that companies could save even more by improving these systems. For example, relatively few businesses mine archives for business analytics. Many legal and compliance managers and executives—as well as their counterparts on the business side—believe that it's not easy to work with archived data formats. Also, many organizations lack a uniform process for archiving throughout data types, which means they can't always identify and access important information when needed. "There are real financial benefits to be realized by implementing an effective data archiving strategy," says Eileen Sweeney, senior vice president and general manager of data management for Iron Mountain. "To truly leverage the power of enterprise information, organizations must first take a hard look at their data management program. Even organizations with advanced archiving processes can stand to gain cost savings and additional revenue streams." More than 1,010 global senior and executive-level managers involved in data archiving (including those from IT, business, legal and compliance departments) took part in the research, which was conducted by IDC.