Data Backup Failures: How Much Money is at Stake?

by / Sunday, 22 April 2012 / Published in Business

The average cost per data loss is $3,957.00. That means that the next time an employee saves over the wrong file, you’re looking at a potential disaster for the company budget. Unfortunate occurrences like hardware failure and simple human error cost American companies an estimated $18.2 billion per year – don’t let your own business fall victim to that.

In the corporate sphere, magnetic data tapes have been reigning supreme for decades. But since tapes are so vulnerable to factors like heat, humidity, and magnetic interference, as much as 40% of tape backups fail to recover your data. So, that means there’s roughly a 60% chance that you’ll get that data back when you need it… without bringing in extra help, at least.

Faulty backup processes can result in data tapes being compromised and losing countless amounts of valuable information. Besides being one of your worst nightmares, this is also a huge setback in your schedule. You can lose a huge amount of productivity while working to restore lost data.

A Trinity of Backup Must-Haves

If you want to avoid forking over money on data backup failures, you’ll need a method that (1) requires as little hardware as possible, (2) makes your data accessible at the drop of a hat, and (3) backs up all of your business’s data automatically.

Cloud storage is a good option. It doesn’t require any extra hardware, opting instead for software to take care of the transfer. Limited hardware: check.

You can get to your data through an online portal and download files automatically, instead of taking the time to get your hands on the one tape, CD, or flash drive that’s holding the files that you need. Accessibility: check.

Remote online backup software also automatically backs up data on a set schedule, and then stores it in a secure location. Automatic backup: check.

Storing data on a dependable server set up to communicate with your IT infrastructure will free up your dependence on (possibly faulty) hardware, and you can set up a backup schedule that will take the chore of manually backing up data off your hands. With cloud storage, you’ll have the time to focus on other important tasks.

How much have you lost to a data backup failure?

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