As the volumes of data that businesses store continues to grow, the chances of data loss increase as well, making it more important than ever for decision-makers to find innovative and protective solutions to keep information safe. By leveraging cloud storage, organizations can migrate files to secure outsourced data centers, making them available from virtually anywhere.

A survey by CA Technologies found that nearly three-quarters of North American businesses are gaining confidence in public cloud storage capabilities. Another 84 percent of respondents said using a private cloud to host information on-site is also an adequate way to protect sensitive information.

"It is broadly acknowledged that cloud computing can offer many benefits to organizations that require more agile and cost-effective ways of delivering IT services," CA executive Bill Mann said. "This survey reveals that one of those benefits is improved data protection - which remains a huge challenge in conventional, non-cloud environments."

According to IDC, spending on public cloud storage will expand at a compound annual growth rate of more than 23 percent through 2015, while private cloud storage investments will increase at a CAGR of nearly 29 percent.