Businesses of all sizes heavily rely on access to various types of data. Imagine suddenly having an inability to process your customers’ transactions, send out promotions through your marketing channels, access your analytic data, or, in a worst-case scenario, suffer a mass outage with all of your systems taken offline.
While it sounds implausible, the reality is loss of data is a high risk all businesses face. The unexpected happens and when a loss occurs, it can devastate a business. This is especially true for businesses that don’t have the resources for robust IT departments to manage business continuity.
Data is one of the most important assets a company possesses—ensuring a good data recovery plan is in place is critical to surviving a major disruption. Here are four reasons why data recovery is important for your business.
- Outages and Failures Realistically Happen Realistically, outages due to varying circumstances happen. Networks are infiltrated. Hard drives fail. Corrupted data occurs. Employees accidentally delete files. The potential types of data loss a company can experience are numerous. A data recovery plan in place can mitigate losses. Even if the worst scenario happens, you can rest assured knowing your company can quickly be back and operational without any disruption of business continuity.
- Malware is A Persistent Problem Malware incidents are steadily on the rise and ransomware has grown to be a huge problem for organizations of all sizes. Data is the lifeblood for most businesses and without it, they can’t function. Think about what would happen if suddenly all of your data became inaccessible? This would be a disaster. With a data recovery plan, even if your data is locked, when the bad guys come demanding ransom money, you won’t have to worry about any losses since your data will have already been backed up.
- Downtime is Costly Every day, or even every hour, your business is offline, it’s costing you money. According to a survey last year, small and medium-sized businesses said losses per hour were in the tens of thousands of dollars.
- 10% said per-hour downtime cost was over $50,000
- 13% said per-hour downtime cost was $40,000 and $50,000
- 26% said per-hour downtime cost was $10,000 to $20,000
- 27% said per-hour downtime cost under $10,000
- Brand Reputation Loss Can Be Devastating Companies that lose their data often also lose the trust of consumers. Even the most loyal customers might quickly turn to a competitor if you suddenly can’t provide the level of service they’ve been accustomed to receiving from you. Ensuring no disruption, or at least minimizing it, means you have a better chance of maintaining the trust of your customers.
If anything is certain, a disaster, from the corrupted hard drive to a natural disaster event and everything in between, can happen at any time. Many businesses turn to an expert third party to help them ensure data recovery processes are intact and no loss of business continuity is suffered. To learn more about how we can help you, contact Compel Consulting today at 1-888-879-7417.