Your data is one of your most important assets, and the database – the home of it all – has long been the unsung hero in many a business. Databases work tirelessly in the background and are often taken for granted – until something goes wrong that is! When things do go awry, it can pose a significant business risk and the costs can be extremely high. But just how wrong can things go?
Redgate’s CMO, Kate Duggan, recently wrote an article that quantifies the potential costs incurred by not properly managing the database for an enterprise. Here’s a short summary of the article.
- Database downtime is costly, averaging $4.05 million per year for enterprises.
- Data breaches represent another significant threat, resulting in millions of dollars in costs and tarnishing a brand’s reputation.
- Manual database processes are error-prone, resulting in failed deployments and decreased productivity.
- Tightening data privacy regulations have led to skyrocketing fines. GDPR fines alone have surpassed €4 billion since their introduction, impacting businesses globally.
Forward-thinking senior leaders are increasingly recognizing the significance of the database, making it a key topic of discussion in the boardroom.
Read Kate’s full article on Bloomberg.com.
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