This not only encourages future data hoarding, but it also costs companies around the world more than $62 billion every year, according to Business Insider. The other side of this add-it-when-you-need-it mentality is that some businesses purchase more storage capacity than they actually need. This is especially the case with businesses with multiple locations, as the cloud may host a copy of the data for each location. However, the costs of increasing cloud storage capacity quickly add up. With limitless cloud space, it’s logical when network users don’t think twice about saving files.
In addition, cloud storage makes it incredibly easy to purchase more storage as needed.
Purchasing more storage than you need encourages data hoarding. In relation to data loss and breach of security, your company may get charged with a fine for breach of data protection, copyright laws, or other compliance issues. Data hoarding and its associated security risks can cost your company its reputation, but it can also incur huge operational costs. You may have to win back the trust of key clients. If sensitive information gets leaked or hacked, your company brand suffers as a result. Read more: How a Cybersecurity Incident Hurts Your Brand Costs of Data Hoarders When old and redundant files clog up your data stores, it makes the information harder to find.Ĭontrary to the idea that you’re doing your team or your organization a favor by saving files for future reference, you’re throwing those files into a blackhole that you’ll have a hard time retrieving them from - if the need ever actually arises. Files often contain sensitive information, and if they’re unencrypted, they’re at risk of getting hacked or stolen.įurthermore, storing excess files severely hampers your organization’s flexibility and efficiency. Hoarding excess amounts of old files can negatively impact data security. Data hoarding costs your company in more ways than one. The more you lose sight over data and its storage, the more likely your business will suffer a breach in data security.
DATAHOARDER OPENDRIVE HOW TO
It informs key decision makers on everything from how to budget for the upcoming quarter to where inefficiencies lie. Whether digital hoarding is happening at an individual or enterprise level, it’s a huge security vulnerability.ĭata hoarding is the accumulation of saved files and information over time.ĭata is arguably the lifeblood of a company. Read more: Top Cyber Security Threats to Organizations What Is Data Hoarding?ĭata hoarding is the accumulation of saved files and information over time, whether on a personal computer or on a shared network within a corporation. Here we’ll explore the ramifications of data hoarders for your business. In a time when data storage seems to be pretty much unlimited, organizations are storing vast amounts of old, redundant information.
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