29% of organisations say data storage costs hamper digital transformation

Organisations had to delete data which could have been used to create business value.

The cost of storing data has hampered 29% of organisations in Singapore from their adoption of cloud technologies, data from Seagate's Multicloud Maturity Report showed.

Apart from hampering digital transformation, data retention costs, which also include ingress and egress costs, have also hindered 90% of the organisation's ability to maximize data value.

Almost half of the Singaporean organisations surveyed incurred unexpected cloud costs related to data egress/ingress after a migration.
 
Meanwhile, the study also found that cost of data retention led to 35% of organisations deleting or discarding unstructured data which could have been used to create business value.

To effectively manage cloud storage costs, Singaporean organisations have invested in the following: 

• Tools to deliver more comprehensive visibility over all of the organization’s cloud storage usage (55%)
• Funding training and certification of employees in the area of cloud expertise (58%)
• Application re-architecture projects to increase cross-environment compatibility (65% )
• Automation tools to simplify policy creation and enforcement over data flows, access and permissions, protection and security (74%).