Data loss cost S'pore companies $1.9m over 12 months: Report

Data loss plagued 34 per cent of Singapore organisations in the last 12 months.
Data loss plagued 34 per cent of Singapore organisations in the last 12 months.PHOTO: ST FILE

Data-loss incidents cost Singapore organisations an average of US$1.4 million (S$1.9 million) over 12 months.

This is higher than the global average of US$939,703, according to a recent report by Dell EMC.

Data loss plagued 34 per cent of Singapore organisations in the last 12 months. The number of disruptions and data-loss incidents among Singapore-based organisations was "notably higher", said Dell EMC, with 86 per cent affected by disruptions and 37 per cent suffering from permanent data loss.

The disruptions were higher than the global average of 76 per cent.

The cost of unplanned system downtime averaged around $463,000 for Singapore companies, with 45 per cent having experienced unplanned system downtime in the last 12 months.

Almost all local organisations were facing at least one challenge on data protection, and the top barrier was the inability to track and protect all data owing to the growth of DevOps (development operations) and cloud development.

  • 86%

  • Percentage of Singapore firms hit by disruptions, higher than the global average of 76 per cent.

The index also noted that compliance with data privacy regulations was not among the key concerns of Singapore organisations, with regulation compliance ranking fourth.

Only 28 per cent felt "very confident" their data protection measures were compliant with regional regulations, the survey showed.

Dell EMC's third Global Data Protection Index surveyed 2,200 IT decision-makers in public and private companies with more than 250 employees across 11 industries and 18 countries. A total of 100 respondents came from Singapore. The index, done between September and November last year, aimed to find out how mature the data protection strategies of respondents were.

A version of this article appeared in the print edition of The Straits Times on April 05, 2019, with the headline 'Data loss cost S'pore companies $1.9m over 12 months: Report'. Print Edition | Subscribe