Data is today considered the most valuable asset for any organization. This is not surprising considering that 97% of businesses rely on data to power their opportunities, while for 76% of businesses, data is an essential component of their business strategy. Therefore, data is an asset because it helps businesses make confident and informed decisions and informs product development. But on the other hand, a loss in data could be devastating and inconvenient for any organization. Not only will the day-to-day operations be affected, but the organization must also spend time and resources to recreate or recover the lost files.
Data loss can be caused by several factors, which include human failure and error, software corruption, damaged hardware, power failure, computer viruses, etc. leaving your data unprotected is a costly risk that you can avoid with a backup and disaster recovery plan. In the heat of a crisis, it is challenging to make critical decisions. The backup and recovery plan is necessary to guide you through all the essential processes you need to take to ensure the continuity of your business. If your business is yet to adopt a backup and disaster recovery solution, here are three reasons to consider.
Data loss can be both costly and distressing. Statistics by the University of Texas indicate that 94% of companies that suffer a catastrophic data loss cannot survive. 43% of these companies never open again, while 51% close within two years of the data loss crisis. Additionally, the National Archives & Records Administration in Washington shows that 93% of companies that experienced a data loss crisis for ten days or more filed for bankruptcy within a year of the disaster. To ensure your business does not become part of the statistics, here are three reasons to implement a plan for data backup and disaster recovery:
Anytime your business cannot conduct business as usual, you lose money. While most organizations plan for disruptions like power outages, many fail to recognize data's importance in their daily operations. Regardless of the nature of the business, the inability to access your data means that you cannot carry on specific critical tasks for your business. The longer the data goes without being recovered, the longer you are unable to perform, and eventually, this could affect your profits.
A backup and disaster recovery plan allows you to assign roles and responsibilities in advance so that, during a disaster, everyone knows what they should do to ensure swift recovery. This will ensure you can respond swiftly and effectively to manage the problem. In addition, the plan gives employees confidence since there is leadership and a sense of control over the situation.
In addition, having a backup plan will ensure you still retain access to essential data. Securing critical data is vital to any solid backup and disaster recovery plan. It will allow your employees to continue with some of their duties while waiting for the situation to be controlled. For example, when the hardware is damaged and makes data inaccessible, you can turn to cloud-based data using a different device.
Many organizations are intimidated by the cost of implementing a disaster recovery plan but fail to realize that data loss is far more costly to their operations. The financial toll can be devastating for your business when you are unprepared to handle the loss after a disaster. You will find yourself directionless and in distress, making rushed decisions that are not well thought out, which can lead to even more damage to an already bad situation.
However, suppose you planned and prepared before the eventuality of data loss. In that case, the recovery plan will equip you to act quickly without spending so much on the recovery process. You will also be able to restore your data quickly to reduce productivity loss. A backup and disaster recovery plan also reduces the chances of complete data loss that risks putting you out of business.
Your clients can lose faith in your business after data loss, but your recovery strategy will influence their willingness to forgive you and give you a second chance. In addition, a successful backup and disaster recovery plan can help protect your reputation, given how well you handled the disaster. However, if you were utterly unable to recover the data, this jeopardizes your business significantly. Your customers will deflect your competitors, leaving you without business. Additionally, your operations are hindered without data, and the only resort will be for you to shut down. Therefore, to protect the future of your business and avoid losing customers to the competition, ensure a plan to help you navigate a data loss disaster.
Investing in a backup and disaster recovery plan is your best defense against the devastating effects of data loss. The plan ensures that when disaster strikes, priority shifts to what needs to be done to protect your business's revenue, productivity, and reputation. Be proactive and not reactive by planning for the worst. Moreover, ensure that the recovery plan you have designed has been tested and all employees are trained on it to increase its success.
Protect your business today by contacting Orbis Solutions Inc. in Las Vegas. We have various IT services and solutions to help you combat data loss and help you recover quickly.
Orbis Solutions, Inc., in Las Vegas, Henderson, Summerlin and throughout Nevada, has developed creative, strategic and cost-effective technical solutions for a wide variety of clients. Offering a diverse range of products and services, Orbis provides IT solutions to promote your company’s productivity and profitability, and help you sort through the latest-hyped technology, so you can select the best hardware, software or service for your business needs.