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The Importance of Data Backup

While protecting your business data seems like common practice, a startling number of organizations are still failing to routinely back-up their records. According to a 2014 Benchmark Report, three out of four companies worldwide are failing at disaster readiness. When businesses are evaluating their IT spending, oftentimes, performance commonly takes budget priority.

 

Recoverability for businesses ought to be a higher priority due in part to the financial and time saving benefits in the event of a disaster. Small to medium-sized businesses oftentimes have limited resources to keep their IT at peak performance. 

 

A few questions business owners may want to think over is as follows:

 

•How much money does my company stand to lose in a disaster?

•How much money would one hour of downtime cost my business?

•What’s the cost of the downtime compared to the cost of a disaster recovery program?

 

When examining the damage and downtime a loss or data breach may cause, its surprising to see how many companies are willing to risk the backlash of cleanup as opposed to preventative measures.

 

If you are a SMB, the price of a disaster can also mean the loss of your business. 93% of companies that lost their data for 10 days or more, filed for bankruptcy within one year of the disaster, and 50% filed for bankruptcy immediately. Even major corporations are feeling the sting of data breaches. The average U.S. corporate breach cost $3.5 million in 2014. While the loss is still great, corporations of that size typically can recover and move forward with a costly event. While most SMB’s may not be threatened by an outside attack on their business, a study by Safeware has shown that 29% of data loss occurs from internal human error. Errors such as downloading malware, having weak passwords protecting business critical data, or having one of the 12,000 weekly stolen laptops left behind, there are countless ways human errors can affect and cost a business.

 

Data backup is probably the most important aspect of any IT system. While it may not be as exciting as new high performance technology, data backup and recovery plans are one area that can truly save a business. If you would like to learn about some of the best ways to reliably backup and restore your data, continue the conversation with us on our Twitter, Facebook, or LinkedIn pages. Or fill out an Inquiry form on our website at www.creativeresources.net/contact