Data retention 'important in unstable markets'
19 Sep 2008
The need to retain data is as important in times of economic crisis as it is during more stable financial climates, according to Hu Yoshida, chief technical officer at Hitachi Data Systems (HDS).
He notes the importance ascribed to data centres in the recent purchase by Barclays of assets belonging to troubled US investment bank Lehman Brothers, which filed for bankruptcy.
Barclays paid $250 million (£140 million) for the investment bank's main trading unit, but $1.5 billion - six times as much - for its headquarters and two New Jersey-based data centres.
"The retention of data becomes even more important for compliance and regulatory support even in the midst of bankruptcies and mergers," Mr Yoshida asserts.
His comments follow claims from HDS that businesses are facing relatively high levels of data storage demand, with information also needing to be retained for longer periods - including some which must be kept indefinitely.
For further information on Hitachi Data Systems, please click here..
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