Can Your Business Survive a Data Loss?

Published on: January 14th, 2013

Most businesses report that they are not properly prepared to combat the risk or to bounce-back in the event they suffer a catastrophic data loss. There are a number of factors that affect the majority of businesses today and may increase their susceptibility of a data loss:

• Business owners incorrectly assume that quality backup services are too expensive or beyond what they need.
• Businesses are often using out of date technology for their data backup and storage needs and assume that it is working.
• The number of online security threats has increased.
• Many companies are trending towards BYOD- or “bring your own device”- and therefore there is an increasing amount of company and client data stored on employees’ personal laptops, smartphones, tablets, and other mobile devices, that is likely not protected or backed-up even if the company devices are.

What is the Real Cost of Data Loss to a Business Owner?

According to the Gartner Group, 43 percent of companies were immediately put out of business by a major loss of computer records, and another 51 percent permanently closed their doors within two years. This leaves a mere six percent “survival” rate.

What about a loss that is not catastrophic? This type of data loss is an expensive problem as well that costs organizations an estimated average of $200 per record affected according to a recent survey by Ponemon Institute, though to some degree the true costs associated with data loss are difficult to measure.

What can be Done to Avoid Catastrophic Data Loss?

Implementing a data protection program is essential for every organization. While most business owners recognize that their data files are their livelihood, more than half admit to not having a quality data backup protocol in place. Here are some tips on what you can start doing today to protect your business:

• Accept the fact that your data is at risk. The reality is that computer hard drives, whether on a server, a desktop, or a laptop, will fail.
• Invest now to save money, and your business, later. An automated and fully protected backup service starts at about $30 per month (depending on the amount of data being backed up) and provides you with the peace of mind that your data, and your business, are protected. The cost of attempting to recover deleted data, once lost, is significantly more expensive and is estimated that 20 percent of lost data is not recoverable!
• If you do not have a data backup and recovery plan, get one! Call your local Computer Troubleshooter and request an evaluation of your data backup needs. They will then be able to provide you with options that will meet the specific needs of the business and your budget.
• Check the viability of the backed up data regularly. Don’t make the mistake of assuming that your backups are being done, whether your company uses a manual or automated backup process. Also, never assume the data is retrievable. Talk with your Computer Troubleshooter technician about your current backup solution to verify that it is still the best option for your needs.
• Make data protection a company-wide initiative. Work with your Computer Troubleshooter technician to develop policies and a plan of action for all employees to follow regarding the proper location and access to company data to ensure that data is being backed up as well.

A proactive approach to protecting your data and establishing a plan for recovery in the event of a loss is smart business. Ask your local Computer Troubleshooters office about the best protective mechanisms for your data or for assistance with any of the above tips before it is too late!