The amount of data organisations store will continue to increase if capturing information stays cost effective
As modern IT systems have developed, businesses have been capturing and storing ever growing reams of data in a bid to benefit from analysing their records and use their results to formulate future policy accordingly, and one expert believes this trend will continue as long as the process remains cost effective.
According to Andy Kirk, the founder of Visualising Data, the potential for companies to take advantage of their extensive volumes of information means that there’s no reason for them to stop building on their records – and that many will look for ways to capture even more data in the coming years.
"So long as the cost to capture, store and handle the data continues to stay both affordable and justifiable to business and organisations, then I expect data levels to continue to grow," he said.
"After all, there is so much untapped potential in terms of events and data activities that aren’t currently captured."
Given the idea that the more records businesses hold onto, the more chance they have of developing an appropriate strategy related to the information that they are able to glean from their data, it seems that the popularity of the practice will not wane if it still presents an affordable and logical process for companies.
However, the challenge appears to lie in the ability of the IT world to keep up with the growing demand for extensive storage space and find ways to ensure files are easily accessible – businesses have to be able to justify the amount that they spend on accumulating their records.
If the process of data capture does continue to develop in a way that means it is still an attractive and financially viable part of many business’ strategies, then it’s likely that backing up files online and storing detailed records will still be the done thing for years to come.