If you’re like most business owners, data loss isn’t exactly the most exciting topic in the world of technology. We understand. We’d rather talk about iPads any day. So why have we had several tech tips and webinars covering the topic of data security this year? It’s because in the past year alone, we have seen a lot of businesses lose crucial data and thousands of dollars due to failed hard drives and insufficient backups. This data and money could have been saved by taking a few preventative (and affordable) measures.
According to the National Computer Security Association, 85% of business users are “very concerned” about losing important data, yet only 1 in 4 of them regularly backup their files.
If data backups really are important to you, read these 5 simple facts and arm yourself with the information you need to protect your business.
1. On average, it would take…
19 days and $17,000 to recreate just 20 MB of lost sales/marketing data
21 days and $19,000 to recreate just 20 MB of lost accounting data
42 days and $98,000 to recreate just 20 MB of lost engineering data
(Source: National Computer Security Association)
2. The average failure rate of disk and tape drives is 100%. All drives will eventually fail.
3. 7 of 10 small firms that experience a major data loss go out of business within a year. (Source: DTI/PriceWaterhouseCoopers)
4. 15% of all laptops are stolen or suffer hard drive failures. (Source: Gartner Group)
5. On average, half the amount of a company’s data resides on unprotected PCs and desktops. (Source: National Computer Security Association)
More than 33 billion records will be stolen by cybercriminals by 2023, an increase of 175% from 2018.
The three sectors with the biggest spending on cybersecurity are banking, manufacturing, and the central/federal government, accounting for 30% of overall spending (IDC).
The average cost of a data breach in the United States is $8.64 million, which is the highest in the world, while the most expensive sector for data breach costs is the healthcare industry, with an average of $7.13 million (IBM).
40% of businesses will incorporate the anywhere operations model to accommodate the physical and digital experiences of both customers and employees (Techvera).
The internal team was energized. With the Level 1 work off its plate, the team turned its attention to the work that fueled company growth and gave them job satisfaction.
The cost of cybercrime is predicted to hit $10.5 trillion by 2025, according to the latest version of the Cisco/Cybersecurity Ventures “2022 Cybersecurity Almanac.”.
Forty-three percent of attacks are aimed at SMBs, but only 14% are prepared to defend themselves (Accenture).
It takes an average of 287 days for security teams to identify and contain a data breach, according to the “Cost of a Data Breach 2021” report released by IBM and Ponemon Institute.
We did a proof of concept that met every requirement that our customer might have. In fact, we saw a substantial improvement.
We did everything that we needed to do, financially speaking. We got our invoices out to customers, we deposited checks, all the things we needed to do to keep our business running, and our customers had no idea about the tragedy. It didn’t impact them at all.
“We believe our success is due to the strength of our team, the breadth of our services, our flexibility in responding to clients, and our focus on strategic support.”