Data backup, data recovery, cloud data backup are few buzzwords you come across almost every day now. But why is it so important to have a data backup for your business? “Prevention is better than cure” – a perfect quote by Desiderius Erasmus, answers this query. You might have come across this quote a few times and probably thought it means doing what is necessary to stay healthy. However, the same stands true for businesses too. Your business will be healthy if your assets, i.e. “data” is safe and secure from things like natural disasters, system crashes, cyberattacks or human errors.
Surprisingly, a vast majority of businesses still feel that there is no need for data backup, which is a huge mistake! Such organizations risk downtime, substantial permanent data loss and finally business closure. Small/ medium or self-employed enterprise, no matter what, your data is important and losing it can result in severe disruptions for your businesses.
It is not just natural disasters or human errors that can cause data loss; most businesses will be victims of cyber attacks or data breaches too. According to the latest report by Cisco 2018 Annual Cybersecurity Report, the fear of breaches is founded in the financial cost of attacks, which is no longer a hypothetical number. Breaches cause real economic damage to organizations, damage that can take months or years to resolve. According to study respondents, more than half (53 percent) of all attacks resulted in financial losses of more than USD $500,000.00 including, but not limited to, lost revenue, customers, opportunities, and out-of-pocket costs.
Looking forward to scaling up your business when faced with unsolicited eventualities like data loss? If yes, then you need a proper data backup. Let’s see why data backup is mandatory for your business:
1. Scrutinizing Probable Risks
Analyzing and realizing potential risks is the first step to develop a recovery plan. Physical security breach, natural disasters at your facility are for real, taking these into consideration, the next step is accumulating your disaster recovery plan.
Also, ensure the individuals involved in the disaster recovery planning are IT professionals who can help you analyze the current system and prepare you for the worst. Planning should comprise of risk and recovery for disasters that might occur at one or many of your faculties.
2. Multiple Disaster Situations
The main aim of the team is to come up with recovery plans that are suitable for multiple disaster scenarios. The business continuity planning intent to have in place a recovery plan that can be adhered and practiced to maintain company health after a devastating event. A comprehensive solution should comprise the ability to retrieve vital data and reprise vital staff roles as quickly and seamlessly as possible. A successful business continuity plan will minimize loss and create the best environment for rebuilding.
3. Technical Failures
As it’s evident that all the businesses undertake paper-free transactions now, which means vital files and documents are stored virtually in computers.
Some issues that workers report on a daily basis are that the computer failed mysteriously or the power flow has completely blown off the hard disk.
Systems are meant to fail, which develop hiccups some time. Telling your customers that you lost their valuable data is the last thing you would like to do. Your customers will consider you as incompetent and are not capable of transacting business with them.
All systems are meant to develop hiccups at some time and telling your clients that you have lost valuable information is the last thing you would like to do. Thus get a reliable data backup plan in place.
4. Reputation in Threat
Whenever there is a data loss or cyber-attacks, businesses are likely to be exposed to public scrutiny. This can lead to brand reputation loss. The most embarrassing moment you can come across is, explaining your most loyal clients about losing all the valuable data without any alternate answer. Such events result in some customers feeling annoyed and never again business as usual.
5. Downtime is no fun
Any downtime will undoubtedly lead to loss. It causes production stoppages and unavailability of services to clients. If you don’t have a good data backup plan in place, you need to restore services right from the scratch which is quite a loss.
Rebuilding applications or business database from scratch may consume many days and nights, taking up huge resources. By this time, your clients become furious and disappointed, unable to trust your business any more. Finally, your business vanishes.
There is no looking back for technology advancements, and your business shouldn’t either. Businesses those are not future ready will be left behind, and would soon lose their place in the modern-day industry.
Nowadays the new businesses look for online cloud backup as an employee can access information anytime, anywhere. Additionally, with the help of online cloud backup, employees can collaborate and work on the same task without any compromise on the quality of results.
Having a robust data backup and recovery plan in place will offer businesses “peace of mind.” In short, you can boost your reputation, protect your data and information, and retain your credibility. In case if you lose your data by any chance, you can quickly recover it.
Know Why Data Backup Is Very Much Important For Your Business. (n.d.). Retrieved from https://corporatebytes.in/know-why-data-backup-is-very-much-important-for-your-b
7 Reasons Why Data Backup Is Important For Your Business. (n.d.). Retrieved from https://www.indianweb2.com/2018/09/02/7-reasons-why-data-backup-is-important-for