Cloud FOMO is Real: Study Confirms C-level and Other IT Leaders Have Fear of Missing Out on Cloud Advancements
-- Findings from CITO Research and Commvault reveal that while business leaders are rapidly embracing the cloud, 81 percent are very concerned about missing out on new cloud advancements
-- 75 percent of respondents name data protection and backup among the cloud projects most impactful to their business
-- More than 93 percent of respondents say they are moving at least some of their processes to the cloud and a majority are already cloud-only or plan to completely move to the cloud
Tinton Falls, N.J. – August 14, 2017 - Commvault (NASDAQ: CVLT), a global leader in enterprise backup, recovery, archive and the cloud, today announced the results of a new executive survey that found that 81 percent of C-level and other IT leaders are either extremely or very concerned about missing out on cloud advancements. The survey, which was conducted in partnership with IT research firm CITO Research, demonstrates that CEOs, CIOs and CTOs are experiencing serious cloud Fear of Missing Out (FOMO).
The survey concludes that cloud FOMO is driving business leaders to move full speed ahead on cloud strategies, with 93 percent of respondents stating that they are moving at least some of their processes to the cloud. In addition, 56 percent of respondents stated that they have moved or intend to move not just some, but all of their processes to the cloud.
"The survey unequivocally confirms that Cloud FOMO is real and on the mind of C-level and other IT leaders who are grappling with bringing the value of this new frontier to their organizations, from increasing IT outcomes to being a strategic driver for increased business agility,” said Dan Woods, CTO of CITO Research. “The research indicates the migration toward the cloud is underway in full force, even as companies struggle to understand cloud capabilities. Data protection and recovery was highlighted as a fundamental area where the cloud is having significant business impact."
“Implementing cloud technologies remains an effective way to advance digital transformation within your business. C-level and other IT leaders are rightfully concerned about keeping up with cloud developments,” said Don Foster, senior director of solutions marketing for Commvault. “To be innovative in this transformation, organizations of all sizes must have a clear understanding of how new cloud technology developments enable pragmatic and efficient means for how data is moved, managed, protected and most effectively used with cloud technology, either on-premises or with a cloud provider. These survey results revealing that Cloud FOMO is real are consistent with what Commvault is seeing from our growing customer base, who rely on us as a strategic and trusted partner with the only data management platform in the market today to enable them to move, manage and use data across on-premises and cloud locations.”
Research showed that 75 percent of business leaders viewed data protection and backup as one of the cloud projects that are most impactful to their business -- more than any other cloud project. However, despite seeing data protection and backup as the most impactful use case for the cloud, 63 percent were extremely concerned or very concerned about being able to recover data quickly from the cloud. “Our experience makes it clear that these concerns come from customers who understand they need more than native tools for basic level backup,” continued Foster. “Customers are increasingly aware they need holistic backup and recovery, ensuring that no matter where their data lives – on-premises or in the cloud – it is properly protected and recoverable.”
Other topline findings of the report include:
Biggest barriers preventing moving more apps and data to the cloud:
- 68 percent cited sheer volume of data
- 65 percent struggle developing staff skills/acquiring talent to support the migration
- 55 percent cited policies across cloud and on-premises data as major barriers
- Cloud migration investment: 87 percent of business leader respondents plan to put more budget toward cloud next year. Meanwhile only four percent anticipate that they’ll be investing less.
- Data security and recovery: 91 percent claim to have implemented data protection for SaaS or cloud based applications.
Primary customer reasons to move to the cloud:
- Customer focus through business agility: 33 percent
- Cost savings: 22 percent
- Innovation and development of new apps, products and services: 20 percent
For these executives, the journey to the cloud is as positive as it is important. Only one percent of business leaders described their cloud journey as Frustrating and 13 percent found it Expensive, while 51 percent described it as Innovative and 35 percent called it Exciting.
“In Government, we need a lot of flexibility to adapt to change,” said Jon Walton, CIO of County of San Mateo, California. “The business requirements are fluid, procurement and funding timelines are long, and we want the taxpayer to feel as though their money’s being well spent. Today’s cloud survey results are another validation of the forward thinking strategy we outlined years ago to adopt technologies that are on the forefront of disruptive IT trends. By creating a hybrid infrastructure that incorporated both the private cloud, its existing infrastructure, and public cloud services, workloads and data can be easily moved between infrastructures, enabling the County to use whichever infrastructure delivers the best combination of price/performance while ensuring enhanced access to critical information which allows the county to operate smoothly.”
Walton will join Commvault executives, customers, partners and other thought leaders to speak on these and other data management issues at Commvault GO 2017, the industry’s leading event dedicated to protecting and activating data, Nov. 6-8, 2017 in Washington, D.C. Learn more about San Mateo County’s use of Commvault to support its cloud strategy.
The Commvault and CITO survey targeted C-level executives in industries including but not limited to tech, financial services, manufacturing, healthcare, retail and telecoms in the US –to gain a better understanding of their overall perspective and business strategies related to cloud. The full report, “IT Leaders Do Worry About the Cloud: An Executive Cloud Survey” is available from Commvault.
About CITO Research
CITO Research seeks to perform research and reporting to advance the craft of technology leadership. CITO Research also offers consulting services to IT departments seeking to improve business results.
Commvault is a leading provider of cloud data management solutions, helping companies worldwide activate and drive more value and business insight out of their data to transform modern data environments. With solutions and services delivered directly and through a worldwide network of partners and service providers, Commvault solutions comprise one of the industry’s leading portfolios in data protection and recovery, cloud, virtualization, archive, file sync and share. Commvault has earned accolades from customers and third party influencers for its technology vision, innovation, and execution as an independent and trusted expert. Without the distraction of a hardware business or other business agenda, Commvault’s sole focus on data management has led to adoption by companies of all sizes, in all industries, and for solutions deployed on premise, across mobile platforms, to and from the cloud, and provided as-a-service. Commvault employs more than 2,700 highly skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault — and how it can help make your data work for you — visit www.commvault.com.
Safe Harbor Statement
Customers' results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault's beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
©1999-2017 Commvault Systems, Inc. All rights reserved. Commvault, Commvault and logo, the "C hexagon” logo, Commvault Systems, Solving Forward, SIM, Singular Information Management, OnePass, Commvault Galaxy, Unified Data Management, QiNetix, Quick Recovery, QR, CommNet, GridStor, Vault Tracker, InnerVault, Quick Snap, QSnap, IntelliSnap, Recovery Director, CommServe, CommCell, ROMS, Commvault Edge, and CommValue are trademarks or registered trademarks of Commvault Systems, Inc. All other third party brands, products, service names, trademarks, or registered service marks are the property of and used to identify the products or services of their respective owners. All specifications are subject to change without notice.