Security News > 2020 > June > Not all IT budgets are being cut, some are increasing

Even with the economic challenges that COVID-19 has posed for businesses, almost 38 percent of enterprises are keeping their IT budgets unchanged or actually increasing them.

Getting more business value from their data lake is important for more than 95 percent of enterprises, with 61 percent saying it is very important and an additional 35 percent saying it is somewhat important.

For almost two-thirds of respondents, investments in analytical infrastructure are important, with 27 percent investing a lot more and an additional 37 percent investing somewhat more.

Cost savings took up two of the top three spots and accounted for 39 percent of the total: 23 percent cited cost savings in infrastructure and 16 percent cited cost saving to IT staff.

With the above statistic in mind, it is not surprising that risk mitigation remains a critical consideration, with 82 percent of respondents saying they want hybrid or multi-cloud options to spread any risk from their cloud investments, along with an additional 67 percent saying there are some parts of their business they will not trust to any single cloud vendor.

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