Small businesses understand the importance of maintaining the integrity of their organisation’s data. Incidents of data loss can cost you up to $30,000 a day.
Prevention is the key to avoiding the disaster of lost data, and the number one step to achieving this is having a backup plan.
Data Loss
Data loss is more common than you might think and can occur for a number of reasons: human error, virus attacks, natural or man-made disasters. While data loss used to be restricted to typically just the hard drives in computers it now covers data stored in the cloud, on storage servers, in appliances and myriad of other locations.
Avoid this by having a backup plan and think of it as an insurance policy for your data before any potential destruction.
How Does Data Loss Happen?
Loss of data is not exclusive to human error; the occurrence can often be attributed to a factor beyond a user’s control.
According to the 2018 Datto report, out of 100 Managed Service Providers (MSPs) 98% have predicted an increase in the frequency of cyber-attacks on small – to – mid-sized businesses (SMBs) over the next two years resulting in data loss.
Listed below are the most common scenarios for loss:
Hard Drive Failure
By far the single most fragile piece of hardware in your computer, the intricate nature of this disk makes fault a common occurrence and resulting in a damaged disk. Drives typically fail within a short time if there is a defect from manufacture or after many years although there are several reasons a hard drive can crash without notice.
Overwriting Data
Overwriting data, a human error made when saving over documents with another, is reasonably common. We often lose data simply because we do not have proper workflow procedures and backup strategies.
Viruses and Malware
The damages may differ greatly, but most viruses affect operational software, misuse internet connection and damage stored data. Ransomware is the biggest cybersecurity threat for businesses today. With a spike in ransomware attacks of up to 6% between 2016-2017 with SMBsacross Australia and New Zealand paying out a total of $12.6 million in ransom.
Source: Datto State of the Channel Ransomware Report – ANZ
The most dangerous are the attacks targeted to steal and damage business data. Where there is serious monetary value, there is also an active interest to acquire this information.
Deletion of files
Imagine saving the file under the wrong name, accidental deletion or a half-thought out spring clean – the removal of data by users is the most common form of data loss.
Power failures
There are two adverse effects of power failures. When you are halfway through a detailed piece of work you haven’t saved yet, then in case of power going out you lose your data. Deeper problems may arise when power failures affect operating systems or the hardware of computers.
Water damage
The average laptop does not have extra covers to protect internal parts from getting soaked, making hard drives inaccessible.
What Is Data Recovery?
Unfortunately, most businesses will have to partake in data recovery at some time or another; the process involves the salvaging of what was inaccessible, lost, corrupted, damaged to restore them back to their original condition and accessibility.
How Does Data Recovery Work?
Depending on how you lose the data determines the data recovery process. Say for example you simply delete the file, then it will appear in your recycle bin, however, emptying the recycle bin makes the file far less accessible. Or maybe there is a malware infection comprising your hard drive, either way we can ease the difficulty in regaining access to this crucial data.
Lost data occurs when the computer’s filing system removes the file accessing path, freeing up space on the hard drive for new data. In some cases, parts of the files will remain on your hard drive for years, while in other circumstances traces may be replaced within hours.
So while deleted files are inaccessible and are in danger of being overwritten, you can often recover them completely with professional data recovery tools or better yet a well thought out backup strategy.
Why Is Data Recovery Important?
The importance of data recovery directly correlates with the importance of the information stored. All the IP, files, critical information and plans that have been saved on your hardware, software or cloud which could be vital to the day-to-day or future function of your business.
The Datto report presses on the importance of businesses ensuring continuity with back up and disaster recovery plans in place, along with having a dedicated cybersecurity professional.
Source: Datto State of the Channel Ransomware Report – ANZ
Business Continuity and Disaster Recovery Planning
The impact that data loss can have on your business is exponential. With top cybersecurity solutions today failing to match cyber-attacks, backup and disaster recovery are reported as the most effective solution to protect, along with cyber security training for all employees.
Let’s explore the top four consequences of data loss:
Productivity disruption
For many service professions, a tremendous amount of work is computer or tech-based. When a business loses data from an unplanned network outage, hardware or software failure or malicious cyber attack, productivity is significantly impacted.
Reputation damage
An inability to serve clients or the loss of confidential consumer data is likely to end up in the public eye, resulting in significant damage to your company’s goodwill. When client data is jeopardised, it is likely that existing and potential future customers will take their business elsewhere.
Publication of confidential information
Client, employee or business linked data lost from negligence or theft can have legal implications for your business and may even involve court proceedings and issuing of remedies to the parties impacted.
Business failure
Research shows time and time again, that small companies that are unable to resume normal operations within ten days of a data loss incident are unlikely to survive. The significant economic and non-financial impacts are detrimental and if left unattended may be impossible to recover from.
Are Data Recovery Plans Worth It?
If your data and information are worth saving, then it is worth recovering too.
We prefer to take a proactive approach, so you don’t have to wait until your business is in trouble before implementing a data recovery plan. Our experienced team combines planning, prevention, and protection to make sure your business thrives no matter what comes your way.
What Does Data Recovery cost?
The pricing for data recovery services varies depending on your business’ needs and the IT services that you require. For more information and to get a quote for data loss prevention or recovery please get in touch with the Leap team today.
