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Why Is Having Data Backup Extremely Essential For a Business?

We all have seen the backlash Facebook and Mark have received after the Cambridge Analytica scandal. User data or any other data is very important for a person or any other commercial or non-commercial organization. That’s why #deletefacebook became a trend within a short span of time after Facebook data leak.

Cindi Howson in her book ‘Successful Business Intelligence’ writes that a marketing manager spends an average two hours a day on collecting and processing user data. More than 50% of the collected data is of great use for an organization.

This data is analyzed to reveal the trends, patterns and customer behavior. This helps organizations in aligning their marketing strategies with the behavior of customers. The bottom line is, data is a very valuable asset for an organization. So, no organization can take data safety, security and backup lightly.

Attacks like ransomware are pretty common these days and a victim of these attacks loses a lot more than data and money. Here are some important facts:

  • More than 50% of the businesses that suffered cyber attack and lost data went through public scrutiny. Apart from this, these brands also lost customer loyalty, trust and also brand reputation.
  • Approximately 29% of the businesses lost revenue after a ransomware or any other similar cyber attack. Approximately 40% of the victims of these cyber attacks suffered revenue losses of 20%.
  • 25% of the companies that are victims of cyber attacks and breaches lost a lot of business opportunities after a data-loss event.
  • More than 1/5th of the businesses lost a significant number of customers after cyber-attacks or data breaches. 40% of the businesses lost more than 20% of the customers.

So, it is very clear from these facts that there are devastating effects of cyber attacks and data breaches. Ransomware, data-breaches, cyber-attacks are not the only threats to your business data. There are several other vulnerabilities cyber attackers can exploit.

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Today, you will learn about other threats and also see how data backup services and disaster recovery plans can protect your data.

Your Business Data Is At Risk

Hackers, malicious software and other threats are often being reported these days. There are very serious risks associated with these threats to your business data. So, always keep these threats in mind and always count on the best data backup services and disaster recovery plans. This will protect your data from risks on regular basis. Following are the two common types of threats to the data of a company:

Ransomware, Hackers and Viruses

Ransomware, viruses, hackers and cyber threats have always been wreaking havoc for businesses all over the world. All these cyber threats have caused serious damages to profits and reputations of major businesses as well. Apart from these latest threats, spyware, malware, virus and other old-school cyber attacks lead to serious data breaches and data loss. A business cannot ignore the chances of these threats as it can fall victim to these threats on any day. Therefore, a business should take preventive measures like installing anti-malware, anti-virus, intrusion detection systems, firewall and more. However, still, your business might be exposed to malware, ransomware, hackers and other similar threats.

Physical Threats

Apart from hackers, malware and cyber-threats, data of a company is also exposed to many internal and external physical threats. While a lot of businesses are prepared to handle external physical threats but the internal threats posed by an insider are often ignored.

In addition to threats due to insiders, external threats like natural or manmade disasters such as flood, fire etc can completely wipe out the entire data of a business and that data is impossible to recover if it is available at that location only.

Someone can easily steal the hard drive or other storage devices on which the business data is stored. The data is gone for good if there is no backup. And, there is always a possibility of hard drive failures and other physical damages.

Protecting Business Data with Backup

Backup is simply a copy of data kept in the same or some other machine. Keeping above described threats in mind, it is very important for a business to keep multiple copies of important files and other data at multiple locations. And, each location should be protected against physical and cyber threats. There are different devices and techniques a business can count on to keep data backup. These devices and techniques provide different levels of protection. Here are some simple data backup tips:

  • Take at least three data backups of the business data.
  • Keep one copy on local hard disk, one on tape and one on cloud storage.
  • Keep at least one copy of business data offsite.

Different Backup Options

There are different backup options available these days. Not all options are equally reliable. A business can opt for any of the following two. However, businesses go for a combination of both as it provides the best data protection.

Local and Network Data Backups

Storing multiple copies of data locally is the easiest and cheapest way to create business data backup. Apart from the hard disk, copies of data can be stored on USB flash drives, portable hard drives and other storage devices. Keeping copies on multiple devices connected via a WAN or any other network is another easy and very inexpensive way of creating data backup. No recovery plan is complete without keeping local copies of data. However, local and network backup is always subjected to various physical and cyber threats. So, keeping local copies is essential but not fully dependable. Therefore, a business must have at least one copy of data stored remotely.

Cloud Backup

A lot of businesses are migrating to the cloud. They are running their systems and software via internet from some other location. Many businesses are keeping copies of their data on the cloud. Cloud backups are way more secure than local and network backup. The business data is available even when local copies are lost due to physical disaster.

As compared to local and network backup, a business has to shell out a little more for cloud backup. However, even small businesses can easily afford cloud backup.

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