Backup & Disaster Recovery – by the numbers
Is your business protected?
No matter what your business’ size, location or industry, data and information assets are critical to your business’ operation and success. Despite this…
- Only 41% of businesses back up their data at least once a day
- Last year, 80% of data breaches affected customer Personally Identifiable Information (PII)
What are the Common Causes of Data Loss?
The Consequences of Data Loss
- Severe Downtime: For SMBs, per-hour downtime costs vary from $10,000 – $50,000. Downtime kills productivity, scars your reputation, causes data loss and leads to financial troubles.
- Damage to Reputation: 1/3 of customers will end their association with a business following a major breach or data loss.
- Penalties and Lawsuits: In 2020, the OCC fined Morgan Stanley $60M for failing to comply with standards and secure sensitive data.
- Closure: Irrecoverable data loss can lead to a business owner’s biggest nightmare – permanent closure.
Cost of a Data Loss
- The most expensive component of a cyberattack is information loss, which represents 43% of costs.
- The average cost per lost record in 2020 was $146.
- Organizations without a formal back up and disaster recovery plan faced an average of 201 hours per year of downtime.
Do You Have a Backup & Disaster Recovery Plan in Place?
A disaster recovery plan ensures that a disaster or unpredicted event does not critically affect operations and core business functions or assets.
A successful strategy would include the following components:
- Operational Continuity: A strategic plan would go beyond basic backups and can help you achieve seamless operational continuity during an accident, breach or disaster.
- Defense Against Ransomware: With cybercrime rates going through the roof, downtime and irrecoverable data loss have become a common occurrence. Through the deployment of a proper backup and disaster recovery plan, effective defense against ransomware is possible.
- Data Protection: A robust strategy can help you protect sensitive data during uncertainties.
Almost 60% of organizations in the US have faced a data breach. You need a strong backup strategy to protect your valuable data against unexpected breaches. Rely on Advance to help you build a resilient backup strategy and give you the much-needed peace of mind in the event of a disaster.
Request a Free Dark Web Scan for Your Business
Did you know that your company’s data could be for sale on the Dark Web? Click this link to request a complementary dark web scan for your business. And don’t worry – if your data is for sale on any of its 600,000 sites, Advance will be there to support you. Request a Free Dark Web Scan >>