Veritas and Google are embarking on a new chapter together with this latest announcement. In conjunction with this, there’s a new 360 Data Management for Google Cloud Platform page on Veritas.com that talks about the challenges we are collectively solving, and the technology integrations so far. And while the Veritas approach is to provide data management capabilities across a multi-cloud, hybrid environment, I’m particularly excited about what we’re doing with Google, and the potential customers have to unlock more value from their data as a result.
You see, across the world, organizations are embarking on a digital transformation to enable business growth. This transformation can take many forms, but usually depends on, and results in, the creation of more data. However, there’s a conundrum: more data represents a potential for new insights and business acceleration – assuming organizations can effectively harness the power of this data. But it also creates potentially massive increases in cost, complexity, and risks if enterprises are not able to effectively manage this data.
Are we managing that data well today? Arguably not. The Veritas Data Genomics Index found that 41 percent of this data had not been used or modified in the past three years, or longer. Gartner estimates it costs roughly $1.6 million to store and manage a single petabyte of enterprise data per year, which is painful when you consider how that much data isn’t providing any value to businesses.
Furthermore, the index also gave a clue on the true data growth rate, estimated at 39 percent year-over-year. With further digital transformation should that accelerate by 5 percent per year, enterprise customers could find themselves charged with managing an additional 813 petabytes of data over the next decade, and have to endure an additional $1.3 billion in costs to store and manage it all. According to the CIOs I regularly speak to, that expenditure is unsustainable and it is not built into the digital transformation budget of most companies.
I believe that today, organizations need to be empowered to understand their data better – to know what they have, how old it is, how many copies of it are necessary to keep, who owns it, if it is under legal hold, if it should be expired, etc. Without this insight, how can organizations make a decision on how best to manage and store their data? Or how can they adequately address compliance requirements in an evolving regulatory environment – one which threatens fines of up to four percent of annual revenue for noncompliance, like GDPR does?
Today, organizations need visibility into their data. And they need intelligent, policy-driven ways that take advantage of automation and deep learning to effectively manage and extract value from their data, which will likely require migrating it to the cloud.
And that’s why I’m so excited about this new strategic partnership.
Veritas helps more than 86 percent of the Fortune Global 500 harness the power of their information. These organizations trust Veritas to provide data protection, business resiliency, and information governance capabilities that meet their business needs. Google is the world’s innovator when it comes to deep learning, artificial intelligence, and data analytics. Through this expanded partnership, mutual customers have the opportunity to accelerate their digital transformation efforts by leveraging Google Cloud Services and the newly launched G Suite Enterprise offering – lowering costs and staying in control of their data, while meeting data retention and compliance requirements.
In addition to the commitment to work closely together on new solutions to improve data management, Google and Veritas are engaging in sales and support activities that enhance the experience for customers and help them navigate the multi-cloud, hybrid world in which we find ourselves. The two companies are also committed to co-developing additional joint solutions and deepening product integrations to help businesses continue on this journey quickly and effectively.
Included in today’s announcement is a whole set of new innovations customers can take advantage of:
I believe that organizations must view their data as a critical asset for transforming their businesses. But they need to harness the power of that data to accomplish this in a way that accelerates digital transformation, not inundates it. This begins with visibility, which will set them on the right path and aid them in their journey to the cloud.
To learn more, download the new solution brief. Also, I encourage you to please share your feedback in the comments section of my blog.
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