Data Loss and Business Downtime

Over the past year, computer users worldwide created 1.8 billion gigabytes of data. Much of that data was pertinent for business dealings and operations. Unfortunately, some of that data was also lost, causing expensive downtime for businesses – many of which will never recover from the loss.

There are several factors that commonly contribute to the loss of data. However, the two top causes of data loss are the failure of an uninterrupted power supply and human error. Some of the other top causes include exceeding UPS capacity, cyber-attacks, equipment failure, water incursion, weather-related issues and circuit breaker failure. There are several business continuity tactics and procedures that companies can put in place to prevent or diminish the impact. However, businesses need to implement a disaster recovery plan as well in case their prevention methods were not enough.

Of companies that lose a data center for 10 days, 93 percent file for bankruptcy within a year. Additionally, 43 percent of companies that experience such disasters never reopen. Only six percent of companies without a recovery plan will survive long term. Companies that design and implement a disaster recovery plan have a better chance of surviving catastrophic data loss.

First, businesses need to perform an impact analysis, which involves organizing the data by order of recovery importance. It is important to identify your company’s most valuable assets and critical business functions. These are the tools that must be preserved in an emergency in order to keep your business operational.

Next, companies should perform risk assessment in which they identify potential points of system failure and then take action to eliminate as many as possible. By proactively testing your operational functions for a weak spot, you may be able to prevent a larger problem from occurring. Finally, each company needs to manage their risks by instituting solutions that address points of vulnerability.

This infographic was supplied to us by SingleHop. SingleHop is dedicated to bringing cloud hosting solutions to businesses. They build and maintain hosted infrastructures for companies worldwide.

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