Modern enterprises deal with huge volumes of data critical to the decision making process, which need to be stored, managed and accessed in a timely manner. As the amount of data increases, enterprises are searching for efficient, cost-effective storage systems.
Why do we Need to Archive Data?
- The availability of key business data can make a difference to an organization’s growth, and its absence could be disastrous.
- Critical data is not only important for making business decisions, but it also helps in staying ahead of competition.
- Additionally, there is a vital need to store historical data as it is used for market forecasting and analytics.
An enterprise storage center is a repository for storing business information or data for a period of time depending on the needs of end-users. Enterprise users can access data and share it through interconnected networks as well as online. Enterprise storage comprises SSD and HDD devices that are commonly used in SAN, NAS, and DAS environments.
With growing awareness surrounding the benefits of a robust storage solutions, the Global Enterprise Storage Market is slated to post a robust CAGR of 15 percent from 2014 to 2019.
Reducing the Cost of Enterprise Storage
Enterprises are always on the lookout for infrastructure that can minimize their capital and operational expenditure. This has increased the demand for cloud-based storage solutions, as these solutions are cheaper and highly scalable.
In 2014, almost 65 percent of enterprises had already adopted cloud computing to store and process critical data. Business data is very essential for decision making, and cloud computing provides options to archive and back up data online for a period of time.
As demand for cloud-based storage systems increases, vendors are seizing the opportunity to roll-out low-cost solutions for enterprises.
Spending on Enterprise Storage
Decisions pertaining to enterprise Storage spending are based on key factors, including:
- Data storage requirements
- Backup and archiving needs
- Data security
- Types of deployment solutions
Enterprises carefully consider criteria such as features and performance, scalability, security and total cost of ownership before investing in storage solutions.
That being said, they are investing.
Enterprise spending in IT infrastructure has increased rapidly and will continue to grow during the forecast period. These businesses are always on the lookout for infrastructure that can minimize their capital and operational expenses. As the market grows, and more innovative storage solutions are released, organizations will continue to put funds towards more streamlined, scalable storage.
