Information technology, or IT as it is called, has come a long way in the 21st Century. The advent of the Internet has provided new opportunities for commerce. It has allowed us to connect in inconceivable ways. Just think for a second, over 90% of Americans actively use the Internet in their everyday lives and buy and sell online. Hence, the Internet provides fantastic avenues for business growth for almost any kind of business. However, these benefits come with some significant threats as well.
Since everything online is in the form of data, companies must protect their data at all costs to ensure the smooth functioning of their everyday operations. Data breaches and other cyber-attacks cost companies around $4.35 million in 2022 alone, which gives you an idea of the possible monetary loss that data losses can lead to. In such an online climate where your data remains at risk of being breached, stolen, or lost, it is wise to set up a reliable data backup and recovery system in your company. In the following paragraphs, we provide convincing reasons for investing in data backups in 2023.
What is Data Loss?
Data loss is a serious problem for any organization. Suppose all or some part of a company’s data is destroyed, deleted, or changed, intentionally or unintentionally. In that case, it is considered a loss of data or data loss. Data loss can result due to the actions of people within or outside the organization, as in the case of a cyberattack. However, a data loss differs from a data breach, where data is not destroyed but gets into the wrong hands.
What is Data Backup and Recovery?
In cases where you lose some portion or all of your data, as a company, you should have an adequate and updated backup of the information you lost. Data backup is copying your data from a primary location to a secondary one to ensure that data can be adequately recovered in cases where it is intentionally or unintentionally lost. A company can regain access to the lost data through proper data recovery and return the organization’s system to a previously desired state.
Four Reasons Why You Should Invest in Data Backup and Recovery
Data backup and recovery are vital to the smooth functioning of any organization, whether big or small. A data loss can cause a company significant financial losses as well. Hence, investing in data backup and recovery services is vital. Here are some stat-backed reasons why you should invest in such services.
Hard Drive Failures
The most common reason for the sudden loss of important information and data is the failure of hard drives. Hard drives are bound to fail. Even though technology is improving, hard drives do tend to fail, although less often. The failure rate of hard drives remained relatively stable at around 1% in 2021 and saw a slight increase compared to 2020. Most companies, especially small businesses, depend on hard drives to store their data. However, this isn’t ideal, considering that they are prone to fail at some point. To mitigate hard drive failure, you should invest in a data backup, either through the cloud or by backing up files on another physical location off-site.
The Financial Cost of Downtimes to Organizations
During a cyberattack or unintentional data loss, a company suffers dearly in terms of financial costs as well. Since data forms the backbone of any organization’s smooth functioning, any problems regarding data are bound to take their toll on the entire organization. According to Veeam’s data protection report, the average downtime cost was around a whopping $88000 per hour. The average sits really high and goes on to show the potential losses resulting from data loss. The figure should come as an eye-opener for small and medium businesses!
Server Outages can be a Serious Nuisance
A server outage can cause immense distress for an organization. Once a server crashes, organizations lose access to all the data stored on that server. However, to ensure that these crashes do not cost the organization all or a portion of its data, an organization needs a data backup to start its operations from where it was before the servers crashed. Statistics show that about 40% of servers experience at least one outage a year. So, if you’re a business owner, you should also be wary about the chances of a server outage.
Small Businesses are Backing Up Their Data on the Cloud
Another critical statistic for any business owner is the fast adoption rate of cloud technology among small businesses. According to Unitrends’ 2019 Survey, around 84% of all businesses invested in cloud-based solutions to back up their company’s data. Interestingly, 93% of small businesses adopted cloud technology more than the average. Hence, if you are concerned about company data, you should invest in data backup and recovery solutions.
Excellent Data Backup and Recovery Services with ComTech Systems
We at ComTech Systems understand the value of your data. We provide our customers with the best data backup and recovery solutions. So, if you are interested in such services, don’t look further. Contact us today!