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Singapore businesses lose over S$1.3B from data loss and downtime in past year: EMC

Zafirah Salim | Dec. 3, 2014
70 percent of IT professionals are not fully confident in their ability to recover information following an incident, according to the study.

Data loss and downtime cost Singapore enterprises US$1 billion (S$1.3 billion) in the last twelve months, compared to the average of US$34 billion (S$44.5 billion) across the Asia Pacific and Japan region.

While global data loss is up by 400 percent since 2012, 70 percent of Singapore organisations said that they are still not fully confident in their ability to recover after a disruption.

These are part of the findings of global data protection study, which is commissioned by EMC Corporation. The respondents comprised of 3,300 IT decision makers from organisations with over 250 people, across 24 countries.

The study also revealed that although the number of data loss incidents is decreasing overall, the volume of data lost during an incident is growing exponentially.

In Singapore, more than half of enterprises (66 percent) surveyed said they experienced data loss or downtime in the last 12 months. The average business experienced more than three working days (27 hours) of unexpected downtime in the last 12 months. The respondents also cited other commercial consequences of disruptions, namely loss of employee productivity (61 percent) and loss of revenue (42 percent).

New wave of data protection challenges

Business trends, such as big data, mobile and hybrid cloud create new challenges for data protection in Singapore.

According to the study, 43 percent of businesses in Singapore lack a disaster recovery plan for any of these environments and only six percent have a plan for all three. In fact, 62 percent rated big data, mobile and hybrid cloud as 'difficult' to protect. With 30 percent of all primary data located in some form of cloud storage, this could result in substantial loss.

Additionally, Singapore enterprises that had not deployed a continuous availability strategy were almost twice as likely to suffer data loss as those who unified their data protection strategy around a single vendor.

On the other hand, those using three or more vendors to supply data protection solutions lost 13 times as much data as those who unified their data protection strategy around a single vendor. Globally, those with three vendors were also likely to spend an average of US$3 million (S$3.9 million) more on their data protection infrastructure compared to those with just one.

The maturity matrix  

Majority of businesses in Singapore (80 percent) are ranked in the bottom two categories for data protection maturity. Only two percent of Singapore organisations are recognised as data protection "Leaders", while another 18 percent are classified as "Adopters".

Additionally, China, Hong Kong, Netherlands, Singapore and the US are found to lead the protection maturity, with Switzerland, Turkey and the UAE lagging behind. Overall, Singapore is ranked fourth out of the 24 countries surveyed.

 

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