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HK firms lost US$2.2 billion from data loss and downtime: EMC

Nurdianah Md Nur | Dec. 9, 2014
The surveyed firms were also not fully prepared for the data protection challenges from big data, mobility and hybrid cloud technologies.

More than half (57 percent) of the enterprises in Hong Kong experienced data loss and downtime in the last twelve months, causing a total loss of US$2.2 billion.

These were the findings from EMC Corporation's 'Global Data Protection Index'. The study surveyed 3,300 IT decision makers from mid-size to enterprise-class businesses across 24 countries, of which 125 respondents were from Hong Kong.

 On average, firms in Hong Kong experienced more than 2 working days (22 hours) of unexpected downtime this year. With two thirds of the respondents claiming to have no confidence in full recovery after a disruption, it is unsurprising that 73 percent of the firms in Hong Kong were ranked lowly in terms of data protection maturity.

Hong Kong firms were also found to be ill-prepared for the data protection challenges brought about by new business trends. Seventy-seven percent of them claimed that big data, mobility and hybrid cloud technologies are making it difficult for them to protect their business, and only six percent of them had a disaster recovery plan for these new environments.  

The study also highlighted the need for a unified data protection strategy. Firms in Hong Kong that used three or more vendors were found to have spent an average of US$2 million more on their data protection infrastructure as compared to those with just one. Despite the higher spending, these firms have lost 8.48 times as much data as those that unified their data protection around a single vendor.  The siloed approach to deploying various technologies is the cause of such data loss, said EMC.

Undeterred by the negative findings, Gabriel Leung, general manager of EMC Hong Kong and Macau, is optimistic that Hong Kong businesses will be able to better protect their data in future. "With data protection technologies evolving in parallel with the challenges that are emerging, businesses in Hong Kong will find it easier to protect themselves by staying abreast of these developments and thinking strategically about data protection." 

EMC data loss infographic
Infographic summing up findings from EMC's Global Data Protection Index. 
Credit: EMC. Click to enlarge

 

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