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How Failed Backups Lead to Lost Revenue
What Are Backup Failures?
The best way to prevent data loss is to back up electronic data on a daily basis, if not more frequently. Some of the reasons backup files are necessary are in the event of:
- Accidental deletion of files.
- Hardware or software failures.
- Damaged files or equipment due to environmental disasters like flood, fire, rodents, tornado, or hurricane.
- Data theft and ransomware.
- Disgruntled employees.
What Does a Backup Failure Affect?
- Customer relations. When your business is interrupted because a loss of data, you can’t serve your customers at full capacity. This can lead to customer frustration, lack of trust and even the loss of customers, affecting your revenue. Customer word-of-mouth is powerful, and can either benefit or damage your business. Without backup files and a backup plan in place, you can’t recover quickly enough to keep your customers happy.
- Business operations. Without ongoing, current backups, when disaster strikes, business operations take a hit. Your digital information provides the foundation for your business. While every business experiences data issues from time to time, backups are the reason businesses can continue normal operations instead of investing all resources in a recovery effort.
- Brand reputation. If customer relations and business operations take a hit, so does your brand. Any tarnishing of your brand’s reputation will negatively affect your bottom line.
Common Causes of Failed Backups
Did you know that 140,000 hard drive crashes happen weekly in the US? It happens on a regular basis, and it can happen to you. Since it’s a matter of when, not if, you will lose data, ongoing backups are critical.
Lack of Action
67 percent of organizations believe they will experience a major security breach within a year. At the same time, more than 50 percent of organizations indicate that they don’t back up their files, with 96 percent admitting they don’t back up the data on employee workstations.
The picture is clear: Equipment failure isn’t the source of lost revenue, it’s the lack of preparation.
Recovering from Data Loss
60 percent of organizations that experience a data loss incident will shut down within the following six months, and 93 percent of organizations that suffer a major data disaster without a recovery plan will be out of business within one year. Despite these stark statistics, 75 percent of small businesses still don’t have any type of disaster recovery plan.
Running your business is, and should be, your priority. That requires partnering with a secure, compliant records and information management company.
Since 1985, Records Management Center has provided a full suite of secure records and information management solutions to help keep businesses in Augusta, Evans, Thomson, and Martinez, GA, Aiken, SC, and the Central Savannah River Areas stay up and running and compliant with data privacy laws. To talk with one of our experts, simply give us a call at 706-724-7982 or complete the form on this page.