Offsite cloud backup can facilitate advanced protections.

Cost of data loss can be astronomical for companies

Stephen Perkins

As technology continues to evolve, more information than ever is being processed and accessed over the Internet. But while advents like smartphones and the cloud are making it easier than ever to stay productive, these conveniences can come at a cost if not properly managed. According to the Online Backup Geeks, data loss annually costs businesses in the U.S. an estimated $400 million, and more often than not it can be prevented by correcting common mistakes.

Companies cannot afford to take risks when it comes to data backup. Preventing downtime and securing information should be top priority for all businesses.

The cost of data loss
Despite several high-profile instances that have occurred in recent years, many companies still are not taking the necessary precautions with their information. The Online Backup Geeks found that 40 percent of SMBs do not back up their data. Unsurprisingly, 35 percent of businesses have lost data because of improper safety precautions. The group's research also found that 93 percent of organizations that experienced data center outages lasting at least 10 days filed for bankruptcy within one year – 50 percent of those filings occurred immediately. When viewed through those statistics, the consequences that can result from improper data management seem much more threatening.  

Cloud backup a viable solution
One of the truths that organizations have to accept is that it is not a matter of "if" a security breach will occur. According to MSPmentor contributor Nathan Bradbury, companies that are looking to truly be prepared must realize that breaches are inevitable, and expecting them to happen will allow for stronger defenses. One way to facilitate these protections is to implement offsite backup through the cloud. Information that is stored in this way can benefit from advanced, all-encompassing encryption.

Categories: Cloud Backup, Data Protection, Disaster Recovery