EMC study estimates the cost of data loss for companies at $914,000

8 years ago

New findings from the EMC Global Data Protection Index 2016 revealed that, while businesses have been successful in reducing the impact of the four biggest traditional data loss risks, they are unprepared for new, emerging threats, which are taking their toll instead. When compared to the EMC Global Data Protection Index 2014, 13% more businesses experienced data loss or disruption in the last 12 months, costing them an average of US$914,000.

EMC commissioned the updated research to help organizations recognize and prepare for the rapidly changing landscape of threats to enterprise data. Survey results from the EMC Global Data Protection Index 2016 identified the following three major challenges to modern data protection: threats to protection data, threats to data in the cloud, evolving protection needs

Steve Duplessie, Founder and Senior Analyst, Enterprise Strategy Group said, “Ransomware is dramatically raising the stakes when it comes to cyber security. We’re moving from theft, which is costly, to potential catastrophe. There are forces at play now that aren’t satisfied with just stealing your money, they want to destroy your entity.”

David Goulden, Chief Executive Officer, EMC Information Infrastructure “Our research shows that many businesses are unaware of the potential impact and are failing to plan for them, which is a threat in itself. As a leader in data protection and cloud computing, EMC continues to innovate to stay ahead of both existing and new challenges by providing modern cloud-centric data protection solutions.”