Data Management in Financial Services
Compliance and Volume Drive the Need for Efficiency
Data volumes are growing at an exponential rate. IDC forecasts that the global datasphere will grow to 163ZB by 2025. As a result, today's lean and highly optimized IT departments realize they will not be able to manage the onslaught of data demands placed on their business without the help of more advanced tools.
In this report, IDC provides insight into the following areas of concern:
- What are the biggest challenges facing regulated industries with regard to long term data?
- Why can't I just put everything in the cloud? Surely that means my data is safe and compliant.
- Is it safest to promote a "keep everything, delete nothing" process?
- How can businesses ensure that regulators can get to the data they need when they need it and provide evidence to regulators that the data hasn't been tampered with?
- Would I need a big project team to focus on replacing and implementing new systems? I don't have the budget to do this.
About the analysts:
Andrew Smith, Senior Research Analyst, Storage Software
Andrew contributes to a broad range of storage research, with a primary focus on archiving and data management software and services. Andrew is also responsible for tracking the revenues of leading software and cloud services providers.
Steven D'Alfonso, Research Director
Steven is a Research Director at IDC Financial Insights who is responsible for compliance, fraud, and risk analytics strategies. His coverage area includes research on technology solutions aimed at solving key issues facing financial institutions around GRC regulations, financial crime, and risk management.