The amount of data collected and analyzed each day is constantly growing and will continue to grow as we move into the future.
Because data about customers, business partnerships, patients, transactions, and much more holds immense value, the need to protect that data is becoming stronger.
Learn about the risks of not backing up your businesses data by watching the video or reading the transcript below.
Why It’s Important to Back Up Data
Data loss creates a range of issues including time wasted, resource costs to replace or restore the lost data, and even legal consequences.
By using a data backup systems though, you’re able to help prevent data loss and greatly minimize the damage if data is ever compromised.
How Much Data Is There to Protect?
For an example of just how much data individuals, businesses, and the rest of the world is actually using (and should be backing up) there are a few stats to consider, such as how 90% of the data on the internet today has been created since 2016.
In the last minute that you’ve been reading this article:
- 1.74 quadrillion bytes of data was created
- 1.44 million gigabytes of data was uploaded to the internet
- 144 million emails were sent
- 2.4 million searches were processed by Google
- 360,000 tweets were sent of Twitter
- $259,000 in sales was processed on Amazon
- 840 new social media accounts were created
The Potential Impact of Data Loss
Considering the amount of data that’s constantly being created, distributed, and downloaded, the impact of losing it is just as significant. According to past studies:
- 94% of companies do not fully recover from severe data loss
- 70% of small businesses close within 1 year
- 54% of companies close within 2 years
- 43% of companies never reopen
The Top 6 Causes of Data Loss
Data loss can be caused by a range of problems such as physical damage, system crashes, and other issues including:
- Mechanical damage & malfunctions
- Power failures
- Viruses and malware
- Accidental deletion and human error
- Fire, waste, and other environmental hazards
- Device theft
Mechanical Damage and Malfunctions
According to recent studies, 67% of data loss is caused by hard drive damage from either human mishandling or mechanical issues
Signs of a failing hard drive include:
- Unusual heat
- Frequent crashing/freezing
- Slow processing speeds
- Clicking or grinding noises
- Issues while booting up
Improper device shutdown procedures caused by a power outage can corrupt existing files or software itself.
If a computer suddenly loses power while writing to a hard drive, the device may never start correctly again.
Viruses and Malware
Viruses and malware can steal and delete large amounts of data, making it important to use strong antivirus and firewall systems.
In the event of disaster though, backing up data in case the first copy is stolen helps to provide a second layer of security.
Accidental Deletion and Human Error
Data backup provides a backstop for when there are inevitable mistakes with data.
Whether it’s spilling water, overwriting data, or downloading virus-infected software, having a backup copy helps protect from accidental risks that aren’t a matter of if but when.
You might be using safeguards like encryption to protect data if a device is stolen, but without a second copy backed up to restore on a new device the data will still be gone.
Water, Fire, and Environmental Hazards
A hard drive overheating can cause damage and data loss, let alone an actual fire or if there’s a flood that causes water damage.
In the event of environmental disaster, it’s important to have a backup copy stored off site and away from danger.
The Potential Impact of Not Backing Up
There are several aspects to consider in terms of the impact of data loss, including the types of data at risk, how it can affect company operations, and how legal consequences can potentially ripple out.
Types of Data at Risk
It’s important to understand just how large the scope of backup’s protection is.
Without data backup, you risk:
- Legal documents
- Contracts and partner information
- Accounting records
- General business data
- Employee records
- Customer data
- Historical records
How It Can Impact Company Operations
Besides just losing all your information, there are also indirect consequences from data loss such as:
- Lower productivity/efficiency
- Lower revenue
- Lost partnerships
- Reputation damage
- No data for customer services/support
On top of the direct and indirect damage of data loss there are also potential legal troubles to factor in:
- Fines and noncompliance penalties for laws like HIPAA
- Class action lawsuits
- Laws requiring notification to affected customers if data is lost or stolen
How to Properly Back Up Data
With DMS systems data is typically backed up and stored on an offsite server. Backing up or accessing data doesn’t require an internet connection, making a DMS system ideal for situations where backups are needed regularly and in bulk.
Cloud storage is internet-based, and instead of single server providers use a network of connected servers to back up data. With multiple servers, if there’s a problem with one server its data will still be stored on other connected servers to provider a safe backup.
Magnetic backup tape offers the advantage of both high-volume and low cost, but because it’s designed almost exclusively for backups it’s not ideal for data that’s regularly accessed. Instead, using backup tapes and vault storage works best for things like data retention requirements.
Do You Have a Data Backup Plan In Place?
Call us at (866) 385-3706 or fill out our form to get free quotes on backup services from several of our trusted service partners.