How businesses are storing their data?

Every business’s main target is to be successful. And that is an obvious thing.

With the introduction of the internet to business, many capabilities and potential to increase audience reach and profitability have popped up. With a growing audience, their needs have also been updated.

Today’s Modern businesses carry a huge load of data which is needed to be analyzed for future strategies. And the data that we hear about is much bigger than we think.

So, the question is where do individuals, organizations, businesses, store their data? 

Let’s start from the start!

What is big data?

Big Data is the collection of a large volume of data, which is growing exponentially with time.

And how big is it? Well, consider this, no data management tool can store big data. Big data is basically used to analyze information. The data is still growing at an unprecedented rate. And yes! The majority(90%) of this big data is just created in the past 2 years. In 2020 the entire digital data had reached about 44 zettabytes. 

Do you know how much a zettabyte is?

1 zettabyte= 1e+15 MB

And, 1e+15 MB= 1,000,000,000,000,000 MB

With this rate, we are soon going to reach yottabyte.

1 yottabyte= 1,204 zettabyte

Now if you can do the math, you know how much digital data has been created till now and how fast it is still growing. 

How to store data?

The data of an organization needs to be stored somewhere, and there are only two ways to store the data.

1. On-premises data storage
2. Cloud data storage

When it comes to deciding whether to with on-premises or in the cloud storage it becomes a little complex. But, many companies today, large or small are going with a cloud solution. They are moving towards cloud storage as it provides the best solution based on several criteria. So, exactly is on-premises and cloud storage?

What is On-premises data storage?

In this, the company’s server is hosted within the workplace infrastructure and, in most cases, physically onsite. The server is controlled and maintained by the company and its own IT team. Data is shared between computers through the local network.

What is Cloud storage?

Cloud storage is a space used to store the data on remote servers which can be accessed from the internet. The data is controlled and managed remotely, for which the users have to pay monthly. Cloud storage has data centers that store the data physically and make it online for the users through the internet.

Which one is better, Cloud or On-Premises storage?

Many of the organizations have the same question when it comes to data storage, which one is a better data storage option.  

But anytime there is a cloud and on-premises comparison, it’s important to think about the needs of the organization. There are several pros and cons to both storage systems.

Here are some pros and cons of cloud and On-premises storage-

Cloud data storage!

Cloud storage is a great option for many businesses. It provides cost-saving benefits and regular data backups and also the ability to scale easily. But at the same time, it has some drawbacks. Here are some pros and cons for the same:

Pros:

• Staff responsibilities-reduced!

As the cloud storage will be managed and controlled by another company, the IT staff won’t have to install new software patches or updates.

• Eliminating the capital expenses!

On-premises storage is considered as a capital expense and cloud storage is considered an operational expense. As cloud storage is taken care of somewhere else, no capital investment is needed.

• Adjusted to your budget!

It helps businesses to keep the initial costs low. Organizations pay for cloud storage on a monthly basis. It doesn’t matter if the business is going up or coming down, cloud storage companies can adjust the prices according to the business’s budget. 

• Quick with deployment!

One of the advantages of cloud storage is that it can be deployed quickly. Customers can start using the application within minutes of installation. 

• Managing the services!

Another major aspect of cloud storage is its management services. Instead of hosting the software or purchasing hardware, the vendor will take care of all things externally.

Cons:

• The Cost is long-term!

In the long-term, a subscription for the cloud can cost up to more in total. The cloud software provides the latest version to its user and which can be reflected in the monthly subscription cost.

• Flex is less! 

Flexibility is a major issue for companies using cloud-based software. The suppliers of the software often don’t include widely customizable options. All customers are provided with the same application. The service is designed for the industry rather than the personalized needs 

• Security!

Cloud software also has problems with security. Cloud storage can be hacked by any outside force that is looking to extract data from these online storage.

On-Premises data storage!

Though cloud storage has been in talks, some companies still prefer on-premises storage solutions for their business needs. Again it also has its own advantages and drawbacks. Here are some:

Pros:

• Customization is great!

Since it is handled by on-premises software, it’s more likely to be customized according to the needs. If the business has personalized needs for storage, then on-premises software is the best option.

• Security is good!

Better security is the main reason that businesses still stick with on-premises security. it’s easier to add extra data protection tools to the data based on an on-premises system rather than a cloud-based one.

Cons:

• Not quick with deployment!

One of the major issues that affect the businesses that use on-premises storage is its inability to be deployed quickly. The hardware of the on-premises storage takes a long time before it can be used, which is very time-consuming.

• No remote workforce!

If the business has multiple offices or a large mobile workforce, on-premise software can create new challenges for remote employees. The additional network will increase the costs and overall complexity.

• More Capital!

To install hardware storage and integrate it into an on-premises system, the businesses will need to pay a higher price. For businesses that don’t have a lot of capital initially, cloud-based storage is the best option.

Businesses choose their data storage type according to their business type and capital. There is also a new combined solution, known as Hybrid systems. This system utilizes both cloud and on-premises storage solutions.

What do you think is the best option to store data?

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