A report by McKinsey states that by 2024, companies choose 80% of their total IT-hosting budget dedicated to cloud spending. As enterprise applications and data are migrating to the cloud, companies are facing a challenge in operations and hence are trying their best to improve scalability for their workforce. Organizations have no idea where all of their sensitive data is stored due to a lack of visibility and operational complexity. This lack is creating inefficiencies, which in turn is costing 14% on average more each year in migration costs than budgeted. It also needs to be understood that almost 38% of companies have seen their migrations being delayed by more than one quarter.
- The complexity of data security brought on by cloud migration
- The evolution of regional and global privacy laws
- The danger of data breaches due to both internal and external threats.