Costs decline a boon for storage. BD 17 Jan 2002
THE declining cost of storing data has allowed companies to speed up the rate at which they expand their storage capacity.
According to industry experts, companies investing in data storage realise a return on their investment within a year, and are able to increase their storage capacity faster and back up their ecommerce offerings.
E-commerce transactions are heavily dependent on a company's data storage capacity.
'Data is the currency of e-business and e-commerce. These initiatives need data in the background to keep their customers,' says IBM storage solutions vice-president Dietmar Wendt.
The key asset in e-commerce is the information a company collects on the buying patterns and trends of their customers. The extent to which this information is stored and accessed sets a company apart from others.
EMC's product manager, Graham Prime, says information can generate a competitive edge, making storage crucial in managing and accessing data.
According to IBM, the processing power of a computer has risen sixfold in less than five years and the number of information technology transactions has tripled.
Some applications dependent on storage capacity, such as e-business applications, enterprise resource planning and customer relationship management have recorded 100% growth.
With the rapid increase in the demand for storage, the industry has turned to technology to overcome its biggest cost, managing the hardware.
'On average one mega byte of storage capacity cost $0,18 while it cost $3 to manage labour to look after data storage,' says Wendt. By using networks the storage industry has linked islands of data to make information accessible from a single source.
This not only cuts down the cost of managing data but also ensures that the correct data is always available, as there is only one source.
Publisher: Business Day
Source: Business Day
Costs decline a boon for storage
Posted On Thursday, 17 January 2002 14:01 Published by eProperty News
THE declining cost of storing data has allowed companies to speed up the rate at which they expand their storage capacity.
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