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Data is the lifeblood of any business. It contains valuable information about your customers, products, services, finances, etc. With data, you can operate your business effectively and efficiently.

But what if something happens to your data? What if it gets corrupted, deleted, stolen, or infected by malware? How would you recover from such a disaster?

This blog post will explore some common problems affecting your business data and how you can prevent them with backup and recovery solutions. We will also show you how managed IT services can help you save money and time by taking care of your backup and recovery needs.

The most common problems

Business data can face many threats, both internal and external. Some of the most common ones are:

  • Human error: Accidental deletion, overwriting, or data modification by employees or contractors. This can happen due to a lack of training, negligence, or malicious intent.
  • Hardware failure: Physical damage or malfunction of storage devices, servers, or network equipment. This can result from power surges, natural disasters, fire, water, dust, or wear and tear.
  • Software failure: Bugs, glitches, or compatibility issues in the applications or operating systems that handle your data. This can cause data corruption, loss, or inaccessibility.
  • Cyberattacks: Unauthorized access or manipulation of your data by hackers, viruses, ransomware, phishing, or other malicious software. This can compromise the confidentiality, integrity, or availability of your data.

Any of these problems can have severe consequences for your business. You may lose revenue, customers, and reputation or even face legal liabilities. You may also incur high costs to restore your data or replace your hardware.

How can you prevent them?

The best way to prevent data loss or damage is to have a backup and recovery plan. A backup and recovery plan is a set of policies and procedures defining how you will protect your data from various threats and restore it in a disaster.

A backup and recovery plan should include:

  • Backup frequency: How often will you make copies of your data and store them in a safe location? This depends on how often your data changes and how much data you can afford to lose.
  • Backup media: What storage devices or services will you use to store your backups? This depends on how much data you have and how fast you need to access it.
  • Backup location: Where you will store your backups. This should be different from where you store your original data. You should have at least one off-site backup in case of a local disaster.
  • Backup encryption: How you will secure your backups from unauthorized access. This should include strong passwords and encryption algorithms.
  • Recovery time objective (RTO): How quickly you must restore your data after a disaster. This depends on how critical your data is for your business operations.
  • Recovery point objective (RPO): How much data can you lose after a disaster? This depends on how often you make backups and how much data changes between backups.
  • Recovery testing: How often will you test your backups and recovery procedures to ensure they work as expected? This should include regular verification of backup integrity and restoration of sample data.

A backup and recovery plan can minimize the risk of losing your data and maximize the chance of recovering it wholly and quickly.

Everything Safe with Backup and Recovery

Backup and recovery are not only crucial for preventing data loss or damage. They are also essential for enhancing your business performance and competitiveness.

Here are some of the benefits of backup and recovery for your business data:

  • Business continuity: Backup and recovery enable you to resume your business operations as soon as possible after a disaster. You can avoid downtime, lost productivity, customer dissatisfaction, or missed opportunities.
  • Compliance: Backup and recovery help you comply with various regulations and standards that require you to protect your data from unauthorized access or disclosure. You can avoid fines, penalties, lawsuits, or reputational damage.
  • Competitive advantage: Backup and recovery give you an edge over competitors who may not have the same data protection or recovery capabilities. You can offer your customers and stakeholders better service, quality, or reliability.
  • Innovation: Backup and recovery free you from worrying about data security or availability. You can focus on developing new products, services, or strategies to grow your business and increase profitability.

Backup and Recovery in Action

Backup and recovery can have a significant impact on your bottom line. According to a study by IBM, the average cost of a data breach in 2020 was $3.86 million, and the average time to identify and contain a breach was 280 days. A backup and recovery plan can significantly reduce these costs and time.

For example, you have a backup frequency of once a day and a four-hour recovery time objective (RTO). RTO is the maximum time you can tolerate to restore your data after a loss. If you experience a data loss event that affects 10% of your data, you can use the following formula to estimate the cost savings by backup and recovery:

  • Cost savings = (Cost per hour of downtime x Hours of downtime avoided) + (Cost per record lost x Records recovered)

Assuming that the cost per hour of downtime is $10,000 and the cost per record lost is $150, you can calculate the cost savings as follows:

  • Cost savings = ($10,000 x 276) + ($150 x 10% x Records)

If you have 100,000 records in total, the cost savings would be:

  • Cost savings = ($10,000 x 276) + ($150 x 10% x 100,000)
  • Cost savings = $2.76 million + $150,000
  • Cost savings = $2.91 million

This is an example of how backup and recovery can save you money and time in case of a data loss event. Of course, the actual numbers may vary depending on your specific situation and industry, but the principle remains the same: backup and recovery are worth investing in.

Need IT Expert Services? Contact Us

We are here to assist you if you need help with backup and recovery for your business data or any other IT-related issue. We are TechProComp, a team of IT experts with over 20 years of experience in providing reliable and affordable IT solutions to businesses of all sizes. We can help you with:

  • Backup and recovery planning and implementation
  • Data security and encryption
  • Cloud computing and storage
  • Network design and maintenance
  • Hardware and software installation and support
  • And more

Schedule Free Consultation

About the author

Slobodan Krsmanovic, the CEO of TechProComp, brings over 25 years of deep-rooted experience in the IT industry. As the author driving our insightful posts, Slobodan embodies a steadfast commitment to client-centric service, fostering respectful and secure collaborations across all business scales.

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