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Just about every organization is creating data at a faster and faster pace. At the same time, the value of that data is growing. How many organizations out there could operate (or even survive) if they lost ALL their data, or just couldn’t access it for days or weeks.
Data is one of the most valuable assets an organization has, and there’s no insurance plan that will cover recollecting it. It’s as valuable as a money and belongs in a facility like a bank, i.e. a bank for data.
There are 3rd party data center providers who are much like a bank for your data. You don’t keep your cash in your closet, so why would you put your data assets there.