Data loss is a frightening proposition. Year after year, the numbers on data loss due to malware, ransomware, and natural or negligent disaster pour in. And it’s almost never good news. Here are 6 data backup stats to prove it.
140,000 hard drives fail in the United States each week.
(source: Small Business Trends)
Clearl, hard drives fail. Often. And while there’s no real way to avoid this happening at the worst possible moment, you can protect yourself from data loss. The most common way companies achieve this is by first storing and accessing their data and programs in the cloud, and then securing a professional data backup solution.
Utilizing cloud technology ensures that you have a running backup of your software and systems at all times. A professional data backup solution will also add a layer of testing and oversight to your data backup that ensures it’s fully functional whenever you need it.
On average, small companies lose over $100,000 per ransomware incident due to downtime.
(source: CNN Money)
Ransomware is a constant threat to today’s businesses. There’s nothing worse than having your precious data, email, and other systems held hostage for ransom. Two out of three companies attacked by ransomware pay the ransom, too.
This encourages cyber criminals to continue attacking other businesses.
Here’s the good news. By having properly backed up files and a solid disaster recovery plan to restore operations ASAP, you can avoid paying the fines, bypass the ransom and get back to work.
Data Loss is up 400% since 2012.
(Source: Iron Mountain)
Ransomware, malware, rogue employees, hard drive failure … Data loss is still on the rise. Given that reality, it doesn’t make sense for companies to avoid having a data backup strategy as well as a solid, thorough network security approach. Waiting until data is breached, stolen, or lost almost never ends well.
68% of SMBs don’t have a disaster recovery plan.
(Source: Nationwide Insurance)
That’s a shocking number, considering the above statistics on data loss. But believe it or not, many companies still don’t invest the time and effort to prepare a disaster recovery plan. Having professional data backup is a great start. However, without the right action plan, your business can still take what feels like an eternity to get back online.
The longer the process takes, the more it costs you in lost revenue due to downtime. A disaster recovery plan takes into account the technological AND human elements of getting back to work after data loss and other disasters. It also outlines all responsibilities and strategies required to get back to work STAT.
60% of companies who experience data loss shut down within six months.
(Source: Boston Computing)
We can only imagine what those six months look like before the inevitable end finally lands. It’s a nightmare scenario, but one you can avoid by being proactive in your data backup strategy.
If you don’t already have one, reach out to an IT Services provider who specializes in Backup and Disaster Recovery. They’ll help you figure out the best approach for regularly backing up your critical data.
Do this sooner than later. As you can see, the alternative is not a risk worth taking.
58% of businesses have no backup plan for data loss.
(Source: Small Business Trends)
It’s amazing how closely this number mirrors the stat on companies who experience data loss and go out of business. It seems clear that you have a three-in-five chance of losing your critical data, and that despite this, three in five companies still fail to prepare for potential data loss.
Don’t be one of the three betting against your business. Take the time to get your data backed up professionally. Consult with a professional on developing a disaster recovery plan. Waiting until the inevitable happens to act can be catastrophic for your business.