Data produced by a company will double in the next 18 months

Post date: Mar 20, 2013 8:51:11 AM

The amount of business data nearly doubles each year, according to a new report from the Computer Business Review and Data Flux, a data management and business integration solutions vendor.

According to the survey of 300 senior IT decision-makers, the amount of data produced and stored by companies is increasing as much as 80 percent each year. In other words, data produced by a company will double in the next 18 months. CBR also reports that analysts believe there will be a 40-fold increase over the next decade.

But the report suggests companies may be prepared. About two-thirds said they have data-governance polices in place, while nearly 60 percent noted compliance issues as the main driver for their data policies. Risk management was second, according to more than 20 percent of respondents.

Data growth is a difficult challenge most companies will face this year. Along with storing data, companies must also ensure they have data loss prevention measures in place to avoid costly breaches. A recent Processor report stated an incident can cost up to $200 per record breached.

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