In today's data-driven world, where businesses rely heavily on analytics for insights and decision-making, data is undeniably the lifeblood of organizations. However, as a recent Wakefield Research survey highlighted, the growing volume of data is also leading to ballooning costs and complexities for many companies.
The survey, which engaged DevOps, Site Reliability Engineering, observability, Kubernetes, and CX application professionals, revealed a concerning trend. Nearly all respondents admitted that their organizations frequently encounter data cost overruns, with over half experiencing unexpected spending spikes on a monthly basis. The consequences of these overages are far-reaching, impacting both budgets and the effectiveness of observability projects.
What's particularly alarming is that despite the undeniable value of data analytics, organizations find themselves in a situation where they must discard data to control costs. Many admitted to limiting log ingestion as a cost-cutting measure, and some even acknowledged that data is discarded randomly within their companies. This trend underscores the need for efficient data collection and management right from the start.
At Visibility Platforms, we understand the dilemmas that organizations face in balancing the value of data with budget constraints. In our experience, we've seen our own customers grapple with these decisions, sometimes having to make tough choices like sacrificing important developer environments or reducing data retention days to stay within budget. It's clear that finding the right balance between data utilization and cost management is a critical challenge for businesses in today's data-driven landscape.
Getting the initial decisions wrong, especially in the crucial first mile of data collection and ingestion, can have significant consequences on the cost and coverage of observability projects. It's here that partnering with the right vendors becomes imperative.
At Visibility Platforms, we recognize the importance of making informed choices early in the data journey. We partner with vendors who specialize in reducing unnecessary spend while maximizing the coverage and effectiveness of observability projects. By leveraging the expertise of our partners, we help businesses avoid the pitfalls of overspending and ensure that their observability initiatives align with their budgets and goals.
As the survey data reveals, the challenges of managing data costs and observability spending are on the rise. Businesses are generating unprecedented volumes of data, and while tools have improved and the cloud offers vast storage capabilities, the operational complexity has also increased. This complexity is a result of various teams using different tools and pathways, which can lead to a disconnected data ecosystem.
However, solutions are on the horizon. Many organizations are turning to observability solutions and FinOps practices to optimize data usage and control costs. By tagging data by function and ensuring ownership is tied to workgroups, IT leaders can gain clarity into spending and make more strategic decisions.
While the journey to effective observability and cost management may come with challenges, the investment is necessary. It's essential to recognize that observability platforms, when implemented correctly, can provide valuable insights and drive business value. However, more than 4 in 5 respondents in the survey reported that the return on investment (ROI) on observability platforms has not kept pace with spending.
In conclusion, the importance of making informed decisions in the early stages of data collection and observability projects cannot be overstated. The consequences of getting it wrong can lead to significant cost overruns and limitations in coverage. Partnering with experienced vendors like those we collaborate with at Visibility Platforms is a crucial step in ensuring that your data journey is cost-effective and yields valuable insights for your organization's success.
In addition to emphasizing the significance of early-stage decision-making, at Visibility Platforms, we are committed to empowering our customers with innovative solutions. Our expertise goes beyond cost-effective data collection; we introduce innovative methods to store affordably while ensuring that meaningful data is efficiently forwarded to the tools and solutions that need them most. We excel in offloading heavyweight logging tasks to solutions that offer increased capacity at a fraction of the cost. With us as your partner, you can harness the full potential of your data while optimizing expenses, enabling your organization to thrive in today's data-driven landscape
Reach our team via hello@visibilityplatforms.com for more information on how we can help.