An IDC report, sponsored by Iron Mountain, says a comprehensive data archiving strategy can create $7.5 million of additional revenue on average. The study is based on a survey of 1,011 senior data archiving managers from organizations with more than 500 employees across a range of industries.
Half of the companies polled say they saved $1 million or more through risk mitigation and litigation avoidance (the top 21 percent saved more than $10 million). Through cost-cutting alone, 44 percent of the organizations saved $1 million or more (with 18 percent saving more than $10 million). Another 39 percent of the companies generated $1 million or more in revenue (with 15 percent raking in more than $10 million).
Only 76 percent of companies say they are maximizing their data archives, however. The other 24 percent recognize a need to leverage their data archives more effectively and say they believe they can gain two to five times the value they are currently getting.