This is a growth rate of more than 340 per cent as capacity continues to double every 10 months.

If this isn't a management concern, then it should be, David Thompson, managing director of archiving company, ASX-One Australia said Thursday.

While consolidation and virtualization strategies rank highly in these companies, Thompson believes the focus should be on bad data.

He said TIP research shows storage takes up more than 15 per cent of the total data center budget at nearly half of all Fortune 1,000 companies.

"The problem is that consolidation solutions are hardware-focused, relying on better density and smaller footprints to achieve savings," Thompson said.