I've had conversations with business owners about how important it is to backup their company information.
There's been a lot of yawning.
And, OK, fine – if you're not an IT professional (and even when you are an IT professional) it's hard to get excited about backing up data. It even sounds boring – unlike big data or Internet of Everything.
If your business is run all on paper, stop reading (though I hope there's never a fire or flood in your office).
If you're like nearly every other business today, your business relies on a network infrastructure, email communications, and digital documents; you need to back up all of that digital data.
No data. No business.
Do I have your attention now?
It's really as simple as that. What happens to your business if you lose access to your client and employee information, business intelligence data, financial records, corporate communications, and project plans and details?
What happens to your business if you can't recover half of that information? All of that information?
First I'm going to scare you. Then I'm going to tell you why and explain why the solution isn't difficult – or expensive – at all.
The Cost of Lost Data
There are tons of statistics floating around that say “some large percentage” of businesses that experience a loss of data go out of business within a year or two years. To use Stephen Colbert's formulation, these feel “truthy” though I've never tracked down a research report with one of these stats in it. Maybe I'm just not looking in the right place.
I don't think it's a foregone conclusion that losing data or suffering a business shutdown for a period of time because of no data backup and disaster recovery plan is a death sentence for a business. However, it certainly doesn't help, does it? And some businesses DO go out of business after a data backup disaster. This article from The Denver Post shares one story, 60% of small companies that suffer a cyberattack are out of business within six months.
- A data breach that results in fewer than 100 lost files costs between $18,120 and $35,710. (Verizon Report)
- 62% of all cyberattacks target small and mid-sized business. That's 4,000 per day. (IBM)
- A Towergate survey notes that 82 percent of affected small business owners assumed they had nothing worth hacking or stealing, so their network security was weak or entirely missing.
- Small businesses often don't recognize the value of data and fail to put up a proper defense.
The Good News: Enter Data Backup
There's a simple answer to the problem of losing data – having a data backup and disaster recovery strategy. The technology works, you just have to use it. Companies, especially small companies, make the same mistakes about backing up data – you can download our free eBook by clicking here. The most common mistake – no backup strategy.
There. Is. No. Excuse.
If you don't have the internal staff to backup data, and many companies don't, outsourcing to an IT managed services company to provide cloud backup is a cost-effective alternative. Even if you have to adhere to strict compliance rules, such as HIPAA, there are cloud providers who specialize in providing compliant solutions.
In many cases, outsourcing backup is less expensive and more effective than managing it internally. I've written on this before; Cloud Backup: More Secure Than In-House.
Cyber crime is a business worth trillions of dollars. Security is not going to become less of an issue. Hoping and praying you won't be a target isn't a strategy, it's a death wish.