Highlights –

  • The survey results showed that multicloud-mature organizations that manage cloud costs better and promote innovation with the cloud could perform much better than their competitors.
  • Seagate and ESG, an analyst firm, surveyed over 500 global senior IT and business leaders from various industries. The purpose was to understand better the organization’s cloud, storage, and data management capabilities.

A new report by Seagate revealed that 84% of the IT leaders affirm that their organization has an opportunity to leverage its existing data better to create business value, but 73% say that data retention costs hamper their company.

The current multi-cloud environment is a mix of clouds that lack communication. As multi-cloud complexity and related costs increase, the friction results in data lock-in – leading to loss of business value. Now that organizations are apprehensive about their budgets, reducing costs and increasing innovation have become essential.

Seagate’s report addresses a rising issue of the growing dependence on the cloud across industries, showcases the lost business value by owning walled data and creates a multi-cloud maturity model which empowers business leaders with specific guidelines to navigate and upgrade their operations in the cloud.

The survey results showed that multicloud-mature organizations that manage cloud costs better and promote innovation with the cloud could perform much better than their competitors. These companies are 6.3 times more likely to go to market months or quarters ahead of their competition, nearly three times more likely to report that their business is in a strong business can beat their revenue goals by almost twice as much as their less mature counterparts, and more than three times likely to expect the valuation of their company to grow fivefold in the next three years.

This survey clearly shows that it matters a lot how businesses use their data. It affects business health outcomes like profits, more significant valuation projections, revenues, net promoter score, and the ability to beat budgetary forecasts. Companies that keep their data at the core of everything scale successfully.

Together, Seagate and ESG, an analyst firm, surveyed over 500 global senior IT and business leaders from various industries. The purpose was to understand better an organization’s cloud, storage, and data management capabilities. The people who participated in the survey work for companies with a minimum of 1PB of unstructured data from various industries like media, technology, and manufacturing.