Security News > 2023 > January > 50% of organizations exceed their budgeted spend on cloud storage

The survey seeks to uncover the changing attitudes toward public cloud storage adoption, the factors that influence storage buying decisions, and the top priorities when it comes to budget, use cases, security, and cloud data migration.

"We also gathered important data to inform understanding of new trends: the fact that more than 50% of organizations exceed their budgeted spend on cloud storage; and that many struggle with security due to inadequate training and user experience with cloud storage," added Smith.

Enterprises see the value of cloud storage over on-premises storage In the last year, 89% of enterprises migrated data from on-premises storage to the public cloud, and 84% of all respondents expect to increase the amount of data they store in the public cloud during 2023.

Organizations are increasing public cloud storage budget 84% of respondents expect to increase their public cloud storage spend in the next year.

Understanding their cloud storage bill was the number one challenge associated with cloud storage migration.

"However, while the perceived value of enterprise data might be limitless, storing and accessing that data, on the other hand, has a very real cost. Unfortunately, the complexity and uncertainty of storage fees are major factors which led more than half of organizations to exceed their cloud storage budget in 2022. This highlights a significant pain point for enterprises, and an opportunity to improve as they assess cloud storage spending for 2023.".

News URL

https://www.helpnetsecurity.com/2023/01/27/cloud-storage-budget/