By Jon Fielding, Managing Director, EMEA Apricorn
As businesses continue to grapple with expanding data volumes, the financial implications of data storage are becoming increasingly significant. More than half of UK IT decision-makers assert that data storage costs are “unsustainable”. A recent study reveals that British businesses spend an average of £213,000 per year on storage and management of information1.
These escalating costs are a growing concern for organisations, especially given the amount of data generated annually is expected to reach 181 zettabytes by 2025 and a yottabyte by 2030. Managing, retaining, and safeguarding this data in a cost-effective manner must be a top priority for organisations now looking to streamline their operations and ensure data security.
The problem lies in the rising cost of storing this data. Traditionally, determining which data to keep, delete, or compress has been a laborious and time-consuming process, requiring management teams to navigate regulatory compliance and operational requirements.
AI has introduced the benefits of automation and intelligence, significantly reducing the workload, streamlining analysis of data and enabling organisations to make informed decisions regarding data retention. Through advanced algorithms, AI systems can classify data based on relevance, value, and risk profile, helping businesses optimise their storage solutions and reduce costs associated with unnecessary data accumulation.
Moreover, AI assisted data management is enabling the implementation of efficient data compression techniques that optimise storage space without compromising data integrity or accessibility. Compressed data can be accessed more quickly and seamlessly, further reducing storage expenses and enhancing operational efficiency.
However, integrating these data processes with robust backup and encryption practices is crucial for organisations looking to safeguard their data while managing costs effectively. In today’s threat landscape, data backup is essential for ensuring data resilience and facilitating recovery in the event of a breach. By following best practices such as the 3-2-1 rule – maintaining at least three copies of data on at least two different media with one copy stored offsite – organisations can enhance their data backup strategies and ensure business continuity.
Recent research has highlighted the importance of resilient backup practices, especially in the face of ransomware attacks and other cyber threats. According to Apricorn’s annual survey of security leaders, nearly a quarter (24%) of respondents stated that ransomware has been the main cause of a data breach at their organisation – an increase from 15% last year. Unfortunately, the research also revealed that a similar percentage, only 27%, of UK companies have successfully recovered all their data from backup systems post breach. This can be attributed to a lack of robust backup processes and insufficient resilience policies.
Almost a third (32%) of the security decision makers that were surveyed attributed their unsuccessful recovery to a lack of robust back-up processes – up from 2% in 2022. Further, 22% also admitted that they don’t have sufficiently robust back-ups in place to allow rapid recovery from any attack – up from 15% in 2022.
While it is great to see that security leaders are aware of their flaws, businesses must be able to recover their data when breached.
Adopting a “belt and braces” approach that combines automated backups to central locations with manual backups to personal storage repositories can help mitigate risks associated with human error and inconsistent execution.
Encryption of backup data is also vital in mitigating risks associated with cyber threats and human error while ensuring compliance with security legislation. Encrypting backup data adds an additional layer of protection, making it unreadable to unauthorised individuals and ensuring compliance with security legislation. Utilising offline, offsite storage options such as encrypted removable hard drives or USB devices creates a valuable air gap between data and potential threats.
By integrating backup, encryption, and AI-driven data management practices, organisations can develop robust data retention strategies that align with regulatory mandates but also drive operational efficiency and cost savings. Through adopting these technologies and best practices, businesses can mitigate risks, enhance data security, and maximise the value of their data assets.