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However a subset of organisations are in fact successfully leveraging their data archives and the benefits are impressive - as much as an additional $10M (£6.4 Mil) in revenue from streamlined IT and customer service operations. These are the findings of a new study, "Mining for Insight: Rediscovering the Data Archive," an IDC white paper published by Iron Mountain.

The research reveals that organisations with a well-defined data archive process stand to realise value from two potential avenues: cost savings and added revenue from monetising archives. On the savings front, more than half of the organisations polled realised $1M (£640,000) or more in savings over the past year from risk mitigation and avoidance of litigation, with the top 21 per cent reporting savings of more than $10M (£6.4M). Similarly, 44 per cent of organisations reaped $1M (£640,000) or more in savings stemming from reduced operational or capital costs, with the top 18 per cent capturing more than $10M (£6.4M).

More striking is an organisation’s ability to draw new revenue from an effectively managed data archive. While 39 per cent of companies surveyed benefitted from an additional $1M (£640,000) or more in revenue, the top 15 gained more than $10M (£6.4M).

On average, companies polled saw an additional $7.5M (£4.8M) in new revenue streams from their data archive. Despite this the majority of organisations - 76 per cent - believe they are already maximising the value of their archives, making data archiving a real blind spot for business leaders.
www.ironmountain.co.uk/DataRedefined