Teradata: Security remains top concern amongst company executives
According to the company’s study, eight out of ten executives cite security as a concern when storing data in the cloud.
A new study released by data and analytics specialist Teradata, showed that eight out of ten executives reported security being the chief concern when storing data in the cloud.
Despite the concern however, the study also concluded that the amount of critical data being stored on the cloud will continue to rise significantly over the next few years. According to findings from the study, participating executives predict that 56% of IT data will reside in the cloud, along with 53% and 51% of customer and financial data, respectively.
Other findings from the survey found that 40% of respondents believe general security is at risk, while 25% believe cloud data adoption will result in more breaches. Legal data is largely being kept off the cloud, with only 27% of businesses surveyed expecting to move legal data to the cloud within the next two years.
Telecoms is expected to make the biggest push to the cloud with 48% of organisations anticipating an increase to their cloud storage by 2019.
Similarly, respondents from within the healthcare industry also expect to move a large part of their operation to the cloud. Fifty-nine percent of respondents from the healthcare industry expect to move customer data to the cloud within the next two years.
Marc Clark, director of Cloud Strategy and Deployment at Teradata said: "Our message to organizations around the world is that the cloud is actually one of the most secure means of virtual storage available. While our study finds widespread concerns, the fact is that cloud storage is growing rapidly, remains hugely cost-effective, and that there are ways to manage it securely.
"Cloud computing security processes should be designed to address the security controls that the cloud provider will incorporate, in order to maintain the data security, privacy and compliance with necessary regulations, as well as providing a business continuity and data backup plan.
"By identifying the barriers within the business that hinder further adoption, as well as where cloud storage is creating positive opportunities, we aim to provide reassurance that cloud storage is a safe and cost effective way to store company information."