Think about this: more data was created in just the past two years than in the entire prior history of the human race.
The sheer volume and detail of data and information captured by enterprises, along with the rise of multimedia, social media, Big Data and the Internet of Things, will fuel exponential growth in data for the foreseeable future. In the next 12 to 18 months, the average company will see its data volume grow by more than 50%. In just the next three years, about 1.7 megabytes of information will be created every second for every human on the planet. The accumulated digital universe of data will grow from 4.4 zettabytes today to around 44 zettabytes – that’s 44 trillion gigabytes!
The mountain of data in the digital universe is outgrowing storage capacity regardless of the type of media:
“…the amount of useful data produced will increase from 22% in 2013 to more than 35% in 2020; most of the world’s data will be produced in emerging markets; the amount of data that spends some of its lifetime in the cloud will double; and the amount of data will increasingly outpace available storage.”—Computer Weekly
Cybersecurity: Is Your Data Protected from Cyber Threats
The challenge of having all this data is not only finding the right storage solution. There are other considerations too, like being able to access it quickly across nodes and even in the cloud, managing it efficiently, making sure it’s protected from cyber threats and staying compliant with the latest regulations out of Washington.
According to security company Gemalto’s Breach Level Index, 1,792 data breaches led to almost 1.4 billion data records being compromised worldwide during 2016, an increase of 86 percent from the previous year. That’s nearly four million records stolen per day, 157,364 per hour and 2,623 per minute!
And the cost of a data breach is exploding. The total impact of a data breach in 2017 amounted to $1.3 million for large companies and $117,000 per incident for small- and medium-sized businesses. In just two years, the global cost of cyber threats is expected to reach $2 trillion.
As the Internet of Things continues to expand, cybersecurity threats will too. With everything from your refrigerator to entire building management systems networked and online, the entry points for hackers will increase exponentially. For example, the hackers that stole 40 million credit and debit card numbers from customers of Target in 2013 didn’t just log into the retailer’s financial network. They came through the company’s third-party vendor that operated Target’s heating and air conditioning system, which apparently wasn’t secured from Target’s payment system. (And the cost to Target: $300 million.)
Regulators too will require new levels of data security and encryption systems. Congress is even considering new regulations that include jail time for executives who fail to quickly notify their customers of a breach. The cost of achieving regulatory security compliance already averages $3.5 million per enterprise each year.
Question: Is your company ready to handle it all – adequate data storage, increased cybersecurity protection and regulatory compliance?
Why look for three solutions when RackTop offers one?
RackTop: The All in One Data Storage and Management Solution
RackTop’s flagship products offer an all-in-one data storage management and cybersecurity platform solution integrated with advanced encryption and compliance features – all with a user-friendly design and intuitive interface.
Schedule a demo with RackTop today to find the best storage and data management solution for your company.