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BizReport : Trends & Ideas archives : December 04, 2015

72% of businesses collect and store data they never use

Almost a three-quarters of businesses admitted they often collect data that they never end up using, according to recent research from data storage providers Pure Storage.

by Helen Leggatt

While 26% of the 308 I.T. decision makers surveyed across three countries in July 2015 said they always use the data they collect, 72% said they often collect data they end up never using.

According to Pure Storage, "Most of the data that companies collect today is worthless. Without the right people, the right processes and the right technology coming together at the right time, it's simply a pile of mouldering bits and bytes gently decaying on tapes and hard drives, contributing nothing".

The reasons for not fully processing data collected were a lack of internal skills, a lack of proper processing tools and the time consuming nature of data processing (48%). One in five (19%) said it was too costly to process.

Furthermore, Pure Storage's 'European Big Data - Big Failure' report suggests businesses are losing up to £20 million a year from lost big data opportunities, with over half (51%) of businesses missing out because they didn't see an opportunity until it was already gone, due to a lack of accurate information. Almost a fifth of businesses (19%) are witnessing this scenario a few times a week.

"The reason we're seeing these trends emerge is because it is now cheaper for businesses to retain the data they are collecting, than to destroy it - so the volume of data a business holds is growing rapidly," said James Petter, VP EMEA, Pure Storage. "But at the same time, it is complicated and costly to access usable information fast enough to make a difference."

Image via Shutterstock

Tags: data collection, data storage, data trends, research

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