78.7% Lower TCO Achieved Through Smart Data Lifecycle Management for a Fortune 400 Bank.

For a Fortune 400 investment banking services company, the need to optimize data storage and reduce Total Cost of Ownership (TCO) led them to seek a solution that would enable them to move data from file storage to object storage more efficiently. Data Dynamics’ Unstructured Data Management Software offered the perfect answer, ensuring intelligent data-driven migrations and substantial cost savings while maximizing usable data capacity.

Business Need

Streamlining Data Storage Infrastructure for Cost-Efficiency

  • Optimize Existing Storage: Utilizing file and object storage applications to their fullest potential.
  • Cost Reduction: Moving data from file storage to object storage to benefit from pay-as-you-go pricing and reduce overall costs.
  • Intelligent Data-Driven Migrations: Ensuring seamless and intelligent migrations from file to object storage.

Challenges Faced

Unleashing the Potential of Data Storage and Eliminating Overspending

TCO Disparity

High TCO of $80.72M for 57,679 TB of data on file storage and $13.46M for 26,393 TB of data on object storage.

Underutilization of File Storage

Only 53% of total usable file storage was being utilized, resulting in a surplus payment of $26.38M yearly for unused capacity.

Cost Imbalance

The average cost of file storage per TB was $1,333, whereas object storage cost only $475 per TB, representing a 64% cost reduction.

Solution Offered

Data Dynamics’ Unstructured Data Management Software for Smart Lifecycle Management
Data Dynamics’ Unstructured Data Management software provided an effective solution with the following capabilities:

Data Identification

  • Analyzing metadata to discover, classify, tag, and index data sets based on ownership, access, metadata, and content
  • Content analytics for a single pane view of sensitive data, followed by quarantining high-risk sensitive data in secure storage with limited access
  • Identifying files to move to low-cost object storage for long-term archival or cloud tiering
  • Ensuring role-based access with intelligent file access control and file-repermissioning

Unified Data Management

Ensuring seamless migration with maximum user access and minimal disruptions, while automating access control and file security management.

Migration of Data

  • Automated data migrations from file-to-object with object sizing feature
  • Policy-based tiering (local and cloud)
  • Intelligent data placement to ensure data is placed closest to the applications, meeting data governance and compliance requirements
  • Unified data management during migration to maximize user access, minimize cutover windows, user downtime, and other disruptions.
  • Automated access control and file security management

Business Impact

Optimizing Data Storage and Reducing TCO by 79.2%
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Significant Cost Savings: A remarkable cost saving of 79.2% was achieved in one year, thanks to intelligent data management.

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Increased Usable Data Capacity: By moving data to object storage, the company could save $858 per TB and increase total usable data capacity by 29%.

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Proactive Data Analysis: Ongoing proactive analysis of data ensured continuous optimization and efficient data placement.

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Carbon Reduction and ESG Value Addition: The company’s massive carbon reduction impact resulted in valuable Environmental, Social, and Governance (ESG) value addition.

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Reduced Data Center Footprint: Avoiding new hardware purchases led to a significant reduction in the data center footprint.

Conclusion

With Data Dynamics’ Unstructured Data Management software the Fortune 400 investment banking services company successfully streamlined their data storage infrastructure, significantly reducing TCO, and achieving optimized data capacity. The intelligent data-driven migrations not only saved costs but also contributed to the company’s ESG efforts through carbon reduction. Through seamless migration and proactive data analysis, the company is now well-equipped to manage their data efficiently and maintain a lean and sustainable data center footprint for future growth.
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