The most popular and comprehensive Open Source ECM platform
In 2020, globally 6.7 ZB of data was stored globally, according to IDC.
Dave Reinsel, senior vice president at IDC, said that “in 2020, 64.2ZB of data was created or replicated, defying the systemic downward pressure asserted by the COVID-19 pandemic on many industries and its impact will be felt for several years. The amount of digital data created over the next five years will be greater than twice the amount of data created since the advent of digital storage.”
While growth of data storage by enterprises is outpacing consumer data storage, enterprises still are letting a lot of data slip by without storing it. IDC argues that organizations would be more efficient by capturing and storing more of their data and by pushing forward digital transformation projects.
Advantages of storing more data include:
- Digital resiliency. Data storage and redundancy can help a business quickly recover from business disruptions.
- Digital transformation. Data can be used to create new and innovative solutions and services.
- Digital monitoring. Data can be used to measure the depths of relationships with employees, customers, partners and vendors.
John Rydning, research vice president at IDC, said that “organizations should consider preparing now to store more data as they seek to achieve digital transformation milestones and improve business metrics by accelerating innovative data analytics initiatives.”
Some other interesting statistics from the IDC report include:
- IoT data is the fastest growing data volume segment, followed by social media.
- The growth of data being moved to the cloud is greater than the amount of data being created in the cloud.
- Edge data volumes are beginning to rival cloud data volumes.
- Cloud enterprise data is growing twice as fast as Cloud consumer data.