We use huge amounts of data, and the percentage of digital data usage is growing continuously. Businesses consider data as the difference between thriving and fading away. Without it, businesses can’t understand customer insights, identify their effectiveness, make financial decisions, correctly pay their employees, or perform routine tasks. Considering how crucial data is to a company’s success, data loss can also result in much more significant consequences like operational shutdowns and huge losses in revenue.
The Effect of Digital Data on Businesses
Previously, data was stored with physical paperwork; however, paper records take time and are cumbersome compared to digital files. Today we store most of our data in a digital format and online. Unfortunately, storing the majority of our data in a digital format indicates that we also become prone to large-scale data loss. This can even be life-threatening for a business depending on the scale of the loss. Data stored online has a threat from hackers who steal or hold data for ransom. Once they enter your system and get access to the information stored within it, they can quietly take everything swiftly.
Losing Data: A (Preventable) Disaster
Since businesses rely heavily on their data and maintain most of that data digitally or in the cloud, a backup plan must be already set in case of data corruption. Electronically stored data has the following threats:
How Your Data May Get Compromised?
• Mechanical malfunctions
• Physical damage
• Device theft
• Accidental deletion
• Power failure
• Natural disasters
Some of these may seem unlikely, whereas others are quite common. Having only one copy of your data is extremely risky.
What Happens When Your Data Gets Compromised?
Losing data causes many problems. From an operations standpoint, it results in a loss of productivity. From a historical standpoint, it indicates data that has been gathered, evaluated, and perfected for years may be permanently gone. Not backing up your data frequently can cause you risk of losing:
• Customer data
• Employee records
• General business data
• Historical records
• Legal documents
• Contracts and partner information
• Accounting information
How data loss hampers company operations:
• Lost productivity and effectiveness
• Lost revenue
• Lost Reputation
• Lost customer service/support
• Lost partnerships
Along with losing core business data, a lot of the data stored by businesses contains sensitive information. Every business has to maintain records on employees and have databases of customer information. When such personal information gets compromised, businesses face extreme consequences.
Losing private data can cause:
• Fines and penalties
• Class action lawsuits
• A tarnished reputation
A thorough, comprehensive, and automated backup plan can help you avoid these disastrous consequences.
How to Back Up Your Data
To avoid the consequences of data loss, every company has some form of data backup.
• Physical Off-Site Storage
If your business mostly uses paper files and records, physically storing them would work best. For the safety of your backups, keep them at an off-site facility built to safely store company records.
• Cloud-Based Storage
These services can serve you well when your data is primarily digital. These services are budget-friendly, flexible, and secure. You may easily increase or decrease the quantity of digital space you require and pay for.
• Backup Tapes
Backup tapes were commonly used in the past; however, many businesses still use them to back up their data since they are extremely reliable and cost-effective.
Tips to Back up Your Data:
• Always Keep a Backup Off Site
When your location suffers from a fire or a break-in, while your backups are right next to your primary data—they’re both toast.
• Back Up Your Data Frequently
Ensure that you back up your data on a regular basis to avoid extreme consequences.
• Opt for a System That Works for Your Company
All businesses are different—they have unique goals and manage different types of information. Understand what you require, and find a suitable solution.
How SPARK Services Helps Mitigate the Risks of Not Backing Up Your Data
Being a technology solution provider, SPARK Services offers a variety of computer repair services and data backup services. Our backup solutions help your business store and secure all your important data.
To avail of backup services for protecting your business data, you can reach us at SPARK Services.