Gartner found that in 2019 the average annual storage cost per raw TB of capacity was $7381, and the average number of raw TBs supported per storage FTE is 4,1681. With organizations using only 40% of stored data, this adds up to a lot of wasted expense, and that figure doesn’t even take into account the cost of maintaining storage, which runs another $111k to $164k in IT labor hours a year.
Regulated information covered by Sarbanes-Oxley Act (SOX), the Health Insurance Portability and Accountability Act (HIPAA), Payment Card Industry (PCI) and new regulations protecting privacy like CCPA, will require better security protection and faster retrieval than data that is not regulated or sensitive. You need to figure out:
What information is regulated?
How frequently each will be accessed?
How long to keep each type of information?
If you don’t want to keep the data – what to do about it?