Poor data management is expensive

However, 73 percent of companies worldwide admit they are unable to meet their users' demands for uninterrupted access to data and services.

This is the conclusion of a survey of IT decision-makers published by Veeam Software, a provider of back-up solutions for cloud data management. Computer downtime costs companies nearly €18 million per year in lost revenue, productivity and customer confidence.

At just under 41 million euros in losses, German IT decision-makers put this impact much higher than their international counterparts. However, the current study also shows that companies are actively tackling this problem:

Nearly three-quarters are turning to intelligent data management, often including hybrid cloud technology, to ensure better and more economical use of their data.

What is clear is that respondents are aware of the importance of data management for business success; they point to higher productivity and future potential through transformation.

"Data is important company capital today. Companies need to wake up and take action now to protect their data."

warns Ratmir Timashev, co-founder at Veeam.

"Data management is not a luxury, it's an economic necessity."