Did you know that the amount of data that is being stored globally is expected to grow to 8.9 zettabytes (ZBs) by 2024? This unprecedented data growth will present new challenges and opportunities for organizations in all industries!
THE GREAT STORAGE CHALLENGE
According to IDC, the installed base of storage capacity is forecasted to achieve a compound annual growth rate of 17.8% over the course of 2019 to 2024. This unprecedented data growth will present new challenges and opportunities for organizations in all industries which are discussed in a new white paper by Horison Information Strategies called Understanding the Data Lifecycle.
The Horison paper immediately points out that:
“Balancing storage architecture to effectively manage data through increasingly longer lifecycles for a wider variety of workloads while minimizing costs presents the next great storage challenge.”
An explosion of IoT devices and billions of smart phone and internet users are contributors to this phenomenal data growth.
The paper explains that there are nearly 3 billion smartphone users and over 4 billion internet users worldwide, by the way, that’s more than half of the global population. A key point of interest as discussed in the paper is that “over 60% of all data is archival and it could reach 80% (about 7.12 ZB) or more by 2024, making archival data by far the largest storage class.”
COST EFFECTIVE PROTECTION
The Horison paper notes that “For the majority of data types, the probability of access begins to fall during the first month and typically falls below 1% after 90 to 120 days of inactivity reaching archival status.” Some data becomes archival ready upon creation as it may wait years to be referenced.
The report explains that “The biggest archival challenges are managing the sheer amount of raw data and discovering its unknown value.” The value to the business can change over time and more data is being kept for longer periods of time to help an organization manage inquiries and to remain competitive. Knowledge and decision making from the data is key! The archived data must be protected cost effectively. LTO tape storage comes to the rescue.
TAPE’S VALUE REMAINS
The paper explores the various types of data that are created including structured, semi-structured and unstructured data. The various stages of the data lifecycle are also explained from storage, to tiering and archive, and eventual deletion. Horison emphasizes that “Since data has become the most valuable asset for most businesses, managing and protecting data throughout its lifecycle has become the most critical storage management task. Today the most cost-effective archive solutions are high-capacity robotic tape libraries deployed in local, cloud and remote locations.”
You can get the full story in the Horison white paper, Understanding The Data Lifecycle.