Based on the news that we tend to cover here at DSA, what’s certain is that backup and data protection technologies are certainly improving. We would assume then that over the years, companies would jump at the opportunity to protect their most valuable asset and the amount of data loss suffered by companies would be shrinking. However, real-world statistics show otherwise.
Data Loss Has Gone Up By 400% Since 2002
(Source: Iron Mountain)
The statistics are quite simply staggering. According to the report, “While many companies are adopting advanced data protection technologies to decrease the likelihood of disruption, many enterprises still use a siloed approach with multiple vendors. This segmented strategy means these businesses are twice as likely to suffer data loss as those with a unified data protection strategy using a single vendor.”
Businesses need to realise that more needs to be done to protect their corporate data as well as improve their recovery strategies. The primary requirements for backup and DR today include high backup and recovery reliability and speed, and reduced hardware/software costs. As such, it isn’t surprising that companies are increasingly moving their backups to the cloud with a single vendor as this provides them with the opportunity to consolidate their data and offers the necessary level of reliability, security and compliance they require, at a more manageable OpEx cost model.
Over Half of Businesses (58%) Are Not Prepared For a Data Loss
(Source: Small Business Trends)
What’s interesting (or telling) about this stat is that a similar percentage of companies that suffer from data loss are bound to go bust within six months. We can’t stress enough the importance of having an IT disaster recovery plan in place. Remember that in the digital age, ‘disaster’ can vary from hard disk failure or human negligence to something more sinister like malware or ransomware infection. In today’s fast-paced business environment, you have to be able to bounce back and get your business running again as quickly as possible.
So, our advice is don’t take the risk. Be prepared, take time to get your important data backed up professionally and work on developing a proper disaster recovery plan.
Ransomware Costs Small Businesses On Average $100K Per Incident
(Source: CNN Money)
The threat of ransomware is real. Companies that do not have the security capability to keep ransomware out and are not keeping proper backups of their data have little choice but to pay the ransom. Don’t let it come to that. No business is too small or too big for the cybercriminals. In fact, they may count on the fact that small businesses have little in the way of security or backup as a sure-fire way of inflicting considerable damage to unsuspecting victims.
Losses incurred are not just in terms of the ransom amount itself, but also the time it takes to get systems back online as well as potential revenue and reputational loss.
The good news is that if the worst were to happen and ransomware somehow managed to sneak past your perimeter defences, having a proper backup and disaster recovery plan enables you to restore your operations almost instantaneously.
Every Week, 140k Hard Drives Fail in the US
(Source: Small Business Trends)
The stats may be for the US, but we would assume that the numbers are not that much lower elsewhere in the world, especially in ASEAN. The problem with hard drive failure is that it’s an inevitable part of IT. Spinning disks have moving parts that can (and eventually will) stop working while solid-state drives can only be used a finite number of times before failing.
But losing your disks and losing your data do not have to be one and the same. Today’s backup technologies allow you to make incremental backups to ensure that the recovery point is as recent as possible, with almost instantaneous recovery.
So if you haven’t been taking backup and recovery seriously, based on these statistics, it’s high time that you take a closer look at how you’re backing up your business data. Otherwise, don’t be surprised if you end up as part of the statistics.