Every business spends considerable time and resources developing its data collection strategies. That data frequently holds the key to gaining a competitive advantage in the market; therefore, keeping it secure is essential.
The loss of data due to threats or natural disasters can result in dissatisfied customers, decreased revenue, and even the possibility of bankruptcy. For instance, more than ninety percent of businesses that do not have a disaster recovery plan and that experience a major disaster go out of business within one year.
According to IDC, the total global data volume is expected to rise from 33 zettabytes in 2018 to an incredible 175 zettabytes by 2025. A significant portion of this data is produced by companies, most notably online-based companies such as those engaged in e-commerce.
The greater the amount of data an organization stores, the broader the region that might be affected. Businesses have valuable information that must be guarded at all costs. However, you might find yourself in a mess if you don't have the proper data recovery and backup tools.
When faced with a data loss or difficulty, having a current backup of your data can help you save time while performing the data recovery and keep your competitive edge.
An organization's most valuable asset is its data. The data collected from users may be examined and used in making educated decisions for a company's operations. If this data is lost, the company will suffer, and so will the customer.
An online business or insurance agency that collects client data has a significant risk and an immense responsibility to maintain that data safe. The data loss can have a negative impact on business operations and need an additional step in the recovery procedure for the client.
A new wave of privacy legislation has thrown organizations into a state of increased urgency to safeguard their customers' personal data from unauthorized access. Failing to comply might result in severe fines and other punishments. Every company should have a backup and data recovery strategy in place. Having a remote data backup is a common practice in most industries.
Data backup is a critical component of a disaster recovery strategy because, as the following figures demonstrate, disasters can have a significant financial and operational impact on enterprises.
Unexpected downtimes cost an organization an average of $5,600 per minute, as stated by Gartner's research.
More than two years after a crisis, only 6% of organizations that didn't have disaster recovery in place were still in business, another research by Gartner revealed.
Data loss may be caused by several factors, the most prevalent of which are human error (29%), malfunctioning hardware or software (31%), and viruses, malware, or ransomware (29%).
Having your data backed up and a robust recovery strategy in place might give you a sense of security. An organization should invest in a solid data backup and recovery solution for numerous reasons. Here, we'll go through some of the advantages of doing so.