4 Data Backup Myths You Need to Know About

 
Humans generate 2.5 quintillion bytes of data every day.¹ That is a substantial amount of information. However, failing to keep up with the ever-changing threat landscape might wipe your share of this data in the blink of an eye. In fact, ransomware has more than doubled in frequency since last year, accounting for 10% of verified breaches.²
 
While there is a lot of fear surrounding cybersecurity, you don’t need to panic. There are measures you can put in place to better protect your business. One of our best recommendations is to make data backups a component of your cybersecurity plan. Companies that don’t regularly back up valuable data leave themselves vulnerable to evolving cyberthreats.

 
Data loss can occur due to multiple reasons that range from hard drive failures and ransomware attacks to natural disasters and human error. Whatever the reason may be, data backup can provide the relief you need by helping restore data on your devices should an incident occur.

 
When you decide to embark on your data backup journey to protect your organization and create business continuity, there are several myths you’ll come across. Here are four of the most common data backup myths:

 

Backup Myths Debunked

 

Myth #1: Data Backup Is Too Expensive

Data loss can have a cascading effect, resulting in downtime, productivity loss, revenue disruptions, regulatory fines and reputational damage. The total cost of these setbacks is typically higher than the cost of a backup solution.

 

Myth #2: Having One Copy of Your Data Backed Up Is All You Need

 
The 3-2-1 strategy is a data backup best practice that involves having at least three copies of your data, two on-site but on different mediums/devices, and one off-site.

 
 

• Three copies of data: Having at least two additional copies of your data, in addition to your original data, is ideal.

 

• Two different mediums: Keep two copies of your data on different types of storage medium such as internal hard drives and removable storage like an external hard drive or a USB drive.

 

• One off-site copy: Keep one copy of your data off-site. This helps safeguard against worst-case scenarios.

 

Myth #3: Multiple Copies Guarantee Successful Backups

Having additional copies of your data by following the 3-2-1 strategy is a smart practice, but this doesn’t guarantee backups will operate as expected.

 
Organizations following the 3-2-1 strategy generally keep the original data and one of its copies on-site while another copy is transmitted to a safe, off-site destination, typically the cloud.

 
Beyond creating additional backup copies, regularly check to verify whether your backups are working properly since they may still be vulnerable to user error or data corruption. Routinely test backups or outsource the task to a managed service provider (MSP).

 

Myth #4: Data Backup and Disaster Recovery Are the Same

This misunderstanding stems from the fact that many people do not understand the difference between data backup and disaster recovery. Even though they are both vital components of business continuity, they are not the same.

 
While data backup is the act of backing up critical data, disaster recovery is the act of recovering those backups. Another distinction is that while data backup is defined by the recovery point objective (RPO), which is the amount of data that must be restored to keep operations running, disaster recovery is defined by the recovery time objective (RTO), which considers the time it takes to recover.

 

Partner for Success

 
Trying to safeguard your organization against data loss on your own can be overwhelming. Fortunately, we've got you covered.

 
We can make it easier for you to implement a long-term security and data backup strategy that also meets IT and endpoint device security and data protection requirements – especially considering new, growing cyberthreats that target vulnerabilities you may have overlooked.

 
 


 
 
 
Sources:

1. net
2. Verizon 2021 DBIR

4 Data Backup Myths You Need to Know About

  Humans generate 2.5 quintillion bytes of data every day.¹ That is a substantial amount of information. However, failing to keep up with the ever-changing threat landscape might wipe your share of this data in the blink of an eye. In fact, ransomware has more than doubled in frequency since last year, accounting for 10% of verified breaches.²   While there is a lot of fear surrounding cybersecurity, you don’t need to panic. There are measures you can put in place to better protect your business. One of our best recommendations is to make data backups a component of your cybersecurity plan. Companies that don’t regularly back up valuable data leave themselves vulnerable to evolving cyberthreats.

  Data loss can occur due to multiple reasons that range from hard drive failures and ransomware attacks to natural disasters and human error. Whatever the reason may be, data backup can provide the relief you need by helping restore data on your devices should an incident occur.

  When you decide to embark on your data backup journey to protect your organization and create business continuity, there are several myths you’ll come across. Here are four of the most common data backup myths:

 

Backup Myths Debunked

 

Myth #1: Data Backup Is Too Expensive

Data loss can have a cascading effect, resulting in downtime, productivity loss, revenue disruptions, regulatory fines and reputational damage. The total cost of these setbacks is typically higher than the cost of a backup solution.

 

Myth #2: Having One Copy of Your Data Backed Up Is All You Need

  The 3-2-1 strategy is a data backup best practice that involves having at least three copies of your data, two on-site but on different mediums/devices, and one off-site.

   

• Three copies of data: Having at least two additional copies of your data, in addition to your original data, is ideal.

 

• Two different mediums: Keep two copies of your data on different types of storage medium such as internal hard drives and removable storage like an external hard drive or a USB drive.

 

• One off-site copy: Keep one copy of your data off-site. This helps safeguard against worst-case scenarios.

 

Myth #3: Multiple Copies Guarantee Successful Backups

Having additional copies of your data by following the 3-2-1 strategy is a smart practice, but this doesn’t guarantee backups will operate as expected.

  Organizations following the 3-2-1 strategy generally keep the original data and one of its copies on-site while another copy is transmitted to a safe, off-site destination, typically the cloud.

  Beyond creating additional backup copies, regularly check to verify whether your backups are working properly since they may still be vulnerable to user error or data corruption. Routinely test backups or outsource the task to a managed service provider (MSP).

 

Myth #4: Data Backup and Disaster Recovery Are the Same

This misunderstanding stems from the fact that many people do not understand the difference between data backup and disaster recovery. Even though they are both vital components of business continuity, they are not the same.

  While data backup is the act of backing up critical data, disaster recovery is the act of recovering those backups. Another distinction is that while data backup is defined by the recovery point objective (RPO), which is the amount of data that must be restored to keep operations running, disaster recovery is defined by the recovery time objective (RTO), which considers the time it takes to recover.

 

Partner for Success

  Trying to safeguard your organization against data loss on your own can be overwhelming. Fortunately, we've got you covered.

  We can make it easier for you to implement a long-term security and data backup strategy that also meets IT and endpoint device security and data protection requirements – especially considering new, growing cyberthreats that target vulnerabilities you may have overlooked.

   

---

      Sources:

1. net
2. Verizon 2021 DBIR

Think Beyond Basic Backups to Tackle Ransomware

Although ransomware has long been a serious concern for business owners all over the world, the COVID-19 pandemic has created new opportunities for this threat to flourish, and the attack vector is likely to become even more dangerous in the coming years.

 
According to a report, 304 million ransomware attacks occurred globally in 2020, with ransomware affecting over 65% of global businesses.¹ Experts suggest that this is only the tip of the iceberg. Unfortunately, even though SMBs continue to be disproportionately affected by these nefarious attacks, reporting and notifications rarely make the news.

 
When it comes to cybersecurity and ransomware, the biggest mistake SMBs make is assuming hackers only target large enterprises. This is why many SMBs still rely on simple backups and don't have a solid strategy in place.

 
The truth is that hackers are counting on smaller businesses to have fewer security measures in place, making it easier for them to get into your systems. While it’s good to have data backup, it's high time you take its security a step further.

 

The 3-2-1 Backup Strategy for Your Business

 
This is an industry best practice for reducing the risk of losing data in the event of a breach. The 3-2-1 strategy involves having at least three copies of your data, two on-site but on different mediums/devices, and one off-site. Let's examine each of the three elements and the issues they address:

 

• Three copies of data

Having at least two additional copies of your data, in addition to your original data, is ideal. This ensures that, in the event of a disaster, you will always have additional copies. The first backup copy of data is usually kept in the same physical location as the original, if not the same physical server.

 

• Two different mediums

Storing additional copies of your valuable data on the same server/location won’t be helpful in the event of a breach. Keep two copies of your data on different types of storage mediums such as internal hard drives, and removable storage like an external hard drive or a USB drive. If this isn't practical for your business, keep copies on two internal hard disks in separate storage locations.

 

• One off-site copy

Keep one copy of your data off-site, far from the rest. This helps safeguard against worst-case scenarios.

 
In addition to the 3-2-1 backup strategy, consider applying the concept of layered security to keep your data and backup copies secure.

 

Importance of Layered Security in Cyber Defense

 
Most SMBs have an antivirus or firewall installed, but this is usually insufficient to combat today's sophisticated threat landscape, necessitating the application of a layered security approach.

 
Because no security technology or measure is flawless or guaranteed, layered security assumes that attackers will infiltrate different layers of an organization's defenses or have already done so. The goal of this approach is to provide multiple security measures so that if an attack gets past one security tool, there are others in place to help identify and stop the attack before your data is stolen.

 
The THREE ELEMENTS of layered security are:

 

• Prevention

Security policies, controls and processes should all be devised and implemented during the PREVENTION phase.

 

• Detection

The goal of DETECTION is to discover and notify a compromise as soon as possible.

 

• Response

A quick RESPONSE is crucial for the detection phase to be meaningful.

 
Layered security is divided into seven layers by security experts. Hackers seeking to get into a system must break through each layer to gain access. If you want to keep cybercriminals out of your systems, concentrate on improving these seven layers:

 

1. Information security policies

Implement security policies that restrict unauthorized access because the security and well-being of IT resources are dependent on them. This will help you raise information security awareness inside your organization and demonstrate to your clientele that you're serious about securing their data.

 

2. Physical security

Physical security measures, such as fences and cameras, are critical to prevent unwanted intruders from breaking in. It also helps monitor employees with access to sensitive systems.

 

3. Network security

All it takes is for hackers to exploit a single vulnerability to get access to a company’s network. They can easily break into computers and servers after they’ve gained access to your network. Therefore, establishing effective network security measures is essential.

 

4. Vulnerability scanning

Vulnerabilities that occur because of factors such as inadequate patch management and misconfigurations open the door for cybercriminals. However, vulnerability scans help detect these missed patches and improper configurations.

 

5. Strong identity and access management (IAM)

Because of technological advancements, acquiring passwords and hacking into networks is easier than ever. IAM restricts access to critical data and applications to certain workers, making unauthorized access hard.

 

6. Proactive protection and reactive backup + recovery

Proactive protection detects and fixes security risks before they lead to a full-blown breach. The goal of reactive backup and recovery is to recover quickly after an attack.

 

7. Continual monitoring and testing

Failure to regularly monitor and test your backup and disaster recovery strategy is a major oversight and can result in a breach.

 
While it’s your responsibility to make sure your business doesn't get sucked into the quicksand of data loss, it's easy to become overwhelmed if you're attempting to figure out everything on your own. Working with a specialist like us provides you with the advantage of having an expert on your side. We'll make sure your backup and security postures are capable of tackling threats.

 


 
 
 
 
Source:

1. Statista

 
 

Think Beyond Basic Backups to Tackle Ransomware

Although ransomware has long been a serious concern for business owners all over the world, the COVID-19 pandemic has created new opportunities for this threat to flourish, and the attack vector is likely to become even more dangerous in the coming years.

 
According to a report, 304 million ransomware attacks occurred globally in 2020, with ransomware affecting over 65% of global businesses.¹ Experts suggest that this is only the tip of the iceberg. Unfortunately, even though SMBs continue to be disproportionately affected by these nefarious attacks, reporting and notifications rarely make the news.

 
When it comes to cybersecurity and ransomware, the biggest mistake SMBs make is assuming hackers only target large enterprises. This is why many SMBs still rely on simple backups and don't have a solid strategy in place.

 
The truth is that hackers are counting on smaller businesses to have fewer security measures in place, making it easier for them to get into your systems. While it’s good to have data backup, it's high time you take its security a step further.

 

The 3-2-1 Backup Strategy for Your Business

 
This is an industry best practice for reducing the risk of losing data in the event of a breach. The 3-2-1 strategy involves having at least three copies of your data, two on-site but on different mediums/devices, and one off-site. Let's examine each of the three elements and the issues they address:

 

• Three copies of data

Having at least two additional copies of your data, in addition to your original data, is ideal. This ensures that, in the event of a disaster, you will always have additional copies. The first backup copy of data is usually kept in the same physical location as the original, if not the same physical server.

 

• Two different mediums

Storing additional copies of your valuable data on the same server/location won’t be helpful in the event of a breach. Keep two copies of your data on different types of storage mediums such as internal hard drives, and removable storage like an external hard drive or a USB drive. If this isn't practical for your business, keep copies on two internal hard disks in separate storage locations.

 

• One off-site copy

Keep one copy of your data off-site, far from the rest. This helps safeguard against worst-case scenarios.

 
In addition to the 3-2-1 backup strategy, consider applying the concept of layered security to keep your data and backup copies secure.

 

Importance of Layered Security in Cyber Defense

 
Most SMBs have an antivirus or firewall installed, but this is usually insufficient to combat today's sophisticated threat landscape, necessitating the application of a layered security approach.

 
Because no security technology or measure is flawless or guaranteed, layered security assumes that attackers will infiltrate different layers of an organization's defenses or have already done so. The goal of this approach is to provide multiple security measures so that if an attack gets past one security tool, there are others in place to help identify and stop the attack before your data is stolen.

 
The THREE ELEMENTS of layered security are:

 

• Prevention

Security policies, controls and processes should all be devised and implemented during the PREVENTION phase.

 

• Detection

The goal of DETECTION is to discover and notify a compromise as soon as possible.

 

• Response

A quick RESPONSE is crucial for the detection phase to be meaningful.

 
Layered security is divided into seven layers by security experts. Hackers seeking to get into a system must break through each layer to gain access. If you want to keep cybercriminals out of your systems, concentrate on improving these seven layers:

 

1. Information security policies

Implement security policies that restrict unauthorized access because the security and well-being of IT resources are dependent on them. This will help you raise information security awareness inside your organization and demonstrate to your clientele that you're serious about securing their data.

 

2. Physical security

Physical security measures, such as fences and cameras, are critical to prevent unwanted intruders from breaking in. It also helps monitor employees with access to sensitive systems.

 

3. Network security

All it takes is for hackers to exploit a single vulnerability to get access to a company’s network. They can easily break into computers and servers after they’ve gained access to your network. Therefore, establishing effective network security measures is essential.

 

4. Vulnerability scanning

Vulnerabilities that occur because of factors such as inadequate patch management and misconfigurations open the door for cybercriminals. However, vulnerability scans help detect these missed patches and improper configurations.

 

5. Strong identity and access management (IAM)

Because of technological advancements, acquiring passwords and hacking into networks is easier than ever. IAM restricts access to critical data and applications to certain workers, making unauthorized access hard.

 

6. Proactive protection and reactive backup + recovery

Proactive protection detects and fixes security risks before they lead to a full-blown breach. The goal of reactive backup and recovery is to recover quickly after an attack.

 

7. Continual monitoring and testing

Failure to regularly monitor and test your backup and disaster recovery strategy is a major oversight and can result in a breach.

 
While it’s your responsibility to make sure your business doesn't get sucked into the quicksand of data loss, it's easy to become overwhelmed if you're attempting to figure out everything on your own. Working with a specialist like us provides you with the advantage of having an expert on your side. We'll make sure your backup and security postures are capable of tackling threats.

 

---

 
 
 
 
Source:

1. Statista

 
 

Experts estimate that humans produce 2.5 quintillion bytes of data every day.¹ That is a lot of information. However, having a poor backup strategy can wipe out all or vast portions of your data in a single click. From accidental deletions and malicious attacks to natural disasters, there are multiple ways by which you can lose your business data. Therefore, make sure a robust backup and disaster recovery (BDR) solution is an integral part of your business.

When you lose crucial data permanently, the consequences can be devastating. Some costly aftereffects of data loss are:

1. Productivity Disruptions: Companies hit by an incident face an average of close to 200 hours per year of downtime.²
2. Loss of customer trust: One-third of customers end their association with a business following a severe data-loss incident.²
3. Regulatory penalties: The penalties may vary based on the regulatory bodies governing your industry, and they can cost millions of dollars.

It is your responsibility to equip your business with an effective backup and disaster recovery solution, irrespective of your business’s size, industry or location. Let us take a look at how significant backup and disaster recovery is to the following business industries:

Healthcare

There can be severe complications when data loss happens in the healthcare industry:

1. If a patient’s health records go missing when needed, a life-saving surgery could get delayed or denied.
2. Without the billing records, a hospital cannot process payments.
3. Regulatory bodies like HIPAA slap hefty fines on hospitals for carelessly handling data. HIPAA can impose penalties anywhere between $100 to $50,000 for an individual violation, with a maximum fine of $1.5 million per calendar year of neglect.⁴

Alarmingly, the healthcare industry was the worst-hit industry by cyberattacks in 2020.³ Therefore, backup and disaster recovery are critically important in the healthcare industry.

 

Finance

A robust backup and disaster recovery solution is an important part of any financial institution’s growth and survival.

Financial institutions must comply with requirements put forward by:

1. Regulations like the Gramm-Leach-Bliley Act (GLBA)
2. Financial agency regulatory agencies like the Financial Industry Regulatory Authority (FINRA)
3. International regulators such as the Financial Conduct Authority (FCA)
4. The Securities and Exchange Commission (SEC)

An effective BDR solution is a mandatory requirement highlighted by all the concerned authorities mentioned above. Additionally, having one in place helps these institutions protect employee productivity and ensure customers quickly regain access to essential services following a data-loss event.

 

Hospitality

The information generated in the hospitality industry is in a precarious position. This is because the hospitality industry often invests less in backup and disaster recovery than other industries.

That said, survival in the hospitality industry can be tough. We live in an era where people check public ratings of a hotel room, even if they only plan on staying just one night. A minor dent in reputation could be an enormous blow to a hospitality business.

All critical data like credit card information and customers’ Personally Identifiable Information (PII) must be handled with care to avoid satisfaction issues and regulatory fines. Hence, backup and disaster recovery are an essential part of hospitality.

 

Adopt BDR Before It Is Too Late

Avoiding data loss at any cost is vital for your business to survive and thrive. It is, therefore, highly recommended to have the right BDR provider to maintain control of business-critical data. If you are confused about how to take the first step, do not worry. We are here to help. Our BDR expertise can help your business sail smoothly without being caught in the whirlpool of data loss. Contact us now to learn more.

 
 
 
Article curated and used by permission.
 

Sources:

1. Techjury.net

2. IDC Report

3. IBM Cost of Data Breach Report

4. National Library of Medicine

Experts estimate that humans produce 2.5 quintillion bytes of data every day.¹ That is a lot of information. However, having a poor backup strategy can wipe out all or vast portions of your data in a single click. From accidental deletions and malicious attacks to natural disasters, there are multiple ways by which you can lose your business data. Therefore, make sure a robust backup and disaster recovery (BDR) solution is an integral part of your business.

When you lose crucial data permanently, the consequences can be devastating. Some costly aftereffects of data loss are:

1. Productivity Disruptions: Companies hit by an incident face an average of close to 200 hours per year of downtime.²
2. Loss of customer trust: One-third of customers end their association with a business following a severe data-loss incident.²
3. Regulatory penalties: The penalties may vary based on the regulatory bodies governing your industry, and they can cost millions of dollars.

It is your responsibility to equip your business with an effective backup and disaster recovery solution, irrespective of your business’s size, industry or location. Let us take a look at how significant backup and disaster recovery is to the following business industries:

Healthcare

There can be severe complications when data loss happens in the healthcare industry:

1. If a patient’s health records go missing when needed, a life-saving surgery could get delayed or denied.
2. Without the billing records, a hospital cannot process payments.
3. Regulatory bodies like HIPAA slap hefty fines on hospitals for carelessly handling data. HIPAA can impose penalties anywhere between $100 to $50,000 for an individual violation, with a maximum fine of $1.5 million per calendar year of neglect.⁴

Alarmingly, the healthcare industry was the worst-hit industry by cyberattacks in 2020.³ Therefore, backup and disaster recovery are critically important in the healthcare industry.

 

Finance

A robust backup and disaster recovery solution is an important part of any financial institution’s growth and survival.

Financial institutions must comply with requirements put forward by:

1. Regulations like the Gramm-Leach-Bliley Act (GLBA)
2. Financial agency regulatory agencies like the Financial Industry Regulatory Authority (FINRA)
3. International regulators such as the Financial Conduct Authority (FCA)
4. The Securities and Exchange Commission (SEC)

An effective BDR solution is a mandatory requirement highlighted by all the concerned authorities mentioned above. Additionally, having one in place helps these institutions protect employee productivity and ensure customers quickly regain access to essential services following a data-loss event.

 

Hospitality

The information generated in the hospitality industry is in a precarious position. This is because the hospitality industry often invests less in backup and disaster recovery than other industries.

That said, survival in the hospitality industry can be tough. We live in an era where people check public ratings of a hotel room, even if they only plan on staying just one night. A minor dent in reputation could be an enormous blow to a hospitality business.

All critical data like credit card information and customers’ Personally Identifiable Information (PII) must be handled with care to avoid satisfaction issues and regulatory fines. Hence, backup and disaster recovery are an essential part of hospitality.

 

Adopt BDR Before It Is Too Late

Avoiding data loss at any cost is vital for your business to survive and thrive. It is, therefore, highly recommended to have the right BDR provider to maintain control of business-critical data. If you are confused about how to take the first step, do not worry. We are here to help. Our BDR expertise can help your business sail smoothly without being caught in the whirlpool of data loss. Contact us now to learn more.

 
 
 
Article curated and used by permission.
 

Sources:

1. Techjury.net

2. IDC Report

3. IBM Cost of Data Breach Report

4. National Library of Medicine

Many SMBs operate with a sense of unrealistic optimism when it comes to data loss and disaster recovery. However, the reality can be quite different and can negatively affect your business if you’re not vigilant. As the rate of digitalization increases, so does the risk of data loss. Can your business afford a data-loss incident?

It doesn’t matter if data loss happens because of human error, cyberattack or natural disaster. It can have far-reaching consequences such as:

 

1. Severe downtime: For SMBs, per-hour downtime costs vary from $10,000 to $50,000.¹

2. Damage to reputation: One-third of customers will end their association with a business following a severe data loss.²

3. Regulatory penalties: Failure to protect data can draw penalties worth 2% to 4% or more of company turnover.³

4. Permanent closure: Some businesses are unable to recover from an incident and close permanently.

 
Prioritizing backup and disaster recovery for your business is very important. A comprehensive backup and disaster recovery solution provides secure, uninterrupted backup and quick data recovery — with a cloud-based architecture that ensures the business runs seamlessly in the event of a disaster.

 

Key Terms Used in Backup and Disaster Recovery

The following terms will give you an idea about the type of actions and processes you should aim to implement within your business:

 

• Minimum Business Continuity Objective (MBCO)

MBCO signifies the minimum level of output needed after severe disruption to achieve business objectives.

• Maximum Tolerable Period of Disruption (MTPD)

MTPD is the duration after which the impact on a business caused by minimal or zero output becomes intolerably severe.

• Recovery Time Objective (RTO)

RTO is the time it takes before employees can start working after a data-loss event. It’s usually measured in minutes.

• Recovery Point Objective (RPO)

RPO is the amount of work that can be lost and will need to be done again after a data-loss event. It’s usually measured in seconds.

 

Deploy Backup and Disaster Recovery Today

Having an effective backup and disaster recovery solution provides several benefits. Here are the top six:

 

1. Stay protected against natural disasters

The first half of 2020 alone had close to 200 reported natural disasters. While it’s impossible to stop a natural disaster, you can ensure your data is protected and take the necessary measures to prevent downtime.

 

2. Minimize the impact of a cyberattack

With the rate of cyberattacks going through the roof and with SMBs being a constant target of attacks, it is essential to have a robust backup and disaster recovery solution to protect your business.

 

3. Safeguard sensitive data

If your business handles sensitive data like Personally Identifiable Information (PII), measures should be taken to ensure it never ends up in the wrong hands. Safeguarding all critical data can build your business’s reputation and prevent regulatory penalties.

 

4. Quick recovery

It doesn’t matter how disaster strikes. What matters is how quickly your business bounces back. A good backup and disaster recovery solution helps you get up and running as soon as possible.

 

5. Reduce the impact of human error

From accidental or intentional misdelivery or deletion to corruption of data, employees can pose a security threat to your business. Deploying backup and disaster recovery is, therefore, crucial. You must also train your employees on the difference between acceptable and unacceptable behavior.

 

6. Tackle system failure

Unexpected system failure can lead to downtime if you don’t equip your business with backup and disaster recovery.

Remember, it’s your responsibility to protect your business from data loss and its chaotic aftereffects. If you can’t handle this alone, don’t worry. We’re here for you. With our backup and disaster recovery solutions, we can help build a resilient strategy to protect your business against data loss and give you much-needed peace of mind in the event of a disaster.

 
 
 
Article curated and used by permission.

Sources:

1. TechRadar

2. IDC Report

3. GDPR Associates

Many SMBs operate with a sense of unrealistic optimism when it comes to data loss and disaster recovery. However, the reality can be quite different and can negatively affect your business if you’re not vigilant. As the rate of digitalization increases, so does the risk of data loss. Can your business afford a data-loss incident?

It doesn’t matter if data loss happens because of human error, cyberattack or natural disaster. It can have far-reaching consequences such as:

 

1. Severe downtime: For SMBs, per-hour downtime costs vary from $10,000 to $50,000.¹

2. Damage to reputation: One-third of customers will end their association with a business following a severe data loss.²

3. Regulatory penalties: Failure to protect data can draw penalties worth 2% to 4% or more of company turnover.³

4. Permanent closure: Some businesses are unable to recover from an incident and close permanently.

  Prioritizing backup and disaster recovery for your business is very important. A comprehensive backup and disaster recovery solution provides secure, uninterrupted backup and quick data recovery — with a cloud-based architecture that ensures the business runs seamlessly in the event of a disaster.

 

Key Terms Used in Backup and Disaster Recovery

The following terms will give you an idea about the type of actions and processes you should aim to implement within your business:

 

• Minimum Business Continuity Objective (MBCO)

MBCO signifies the minimum level of output needed after severe disruption to achieve business objectives.

• Maximum Tolerable Period of Disruption (MTPD)

MTPD is the duration after which the impact on a business caused by minimal or zero output becomes intolerably severe.

• Recovery Time Objective (RTO)

RTO is the time it takes before employees can start working after a data-loss event. It’s usually measured in minutes.

• Recovery Point Objective (RPO)

RPO is the amount of work that can be lost and will need to be done again after a data-loss event. It’s usually measured in seconds.

 

Deploy Backup and Disaster Recovery Today

Having an effective backup and disaster recovery solution provides several benefits. Here are the top six:

 

1. Stay protected against natural disasters

The first half of 2020 alone had close to 200 reported natural disasters. While it’s impossible to stop a natural disaster, you can ensure your data is protected and take the necessary measures to prevent downtime.

 

2. Minimize the impact of a cyberattack

With the rate of cyberattacks going through the roof and with SMBs being a constant target of attacks, it is essential to have a robust backup and disaster recovery solution to protect your business.

 

3. Safeguard sensitive data

If your business handles sensitive data like Personally Identifiable Information (PII), measures should be taken to ensure it never ends up in the wrong hands. Safeguarding all critical data can build your business’s reputation and prevent regulatory penalties.

 

4. Quick recovery

It doesn’t matter how disaster strikes. What matters is how quickly your business bounces back. A good backup and disaster recovery solution helps you get up and running as soon as possible.

 

5. Reduce the impact of human error

From accidental or intentional misdelivery or deletion to corruption of data, employees can pose a security threat to your business. Deploying backup and disaster recovery is, therefore, crucial. You must also train your employees on the difference between acceptable and unacceptable behavior.

 

6. Tackle system failure

Unexpected system failure can lead to downtime if you don’t equip your business with backup and disaster recovery.

Remember, it’s your responsibility to protect your business from data loss and its chaotic aftereffects. If you can’t handle this alone, don’t worry. We’re here for you. With our backup and disaster recovery solutions, we can help build a resilient strategy to protect your business against data loss and give you much-needed peace of mind in the event of a disaster.

      Article curated and used by permission.

Sources:

1. TechRadar

2. IDC Report

3. GDPR Associates