More and more companies are leveraging data to streamline processes using digital transformation strategies. With Electronic Data Management Systems (EDMS) and process automation in the form of workflows, organizations create large amounts of information that delivers not only new insights into business efficiency but also provides additional opportunities to engage with customers on a more personal level.
Personalized marketing and lifecycle email campaigns are one way that companies increase revenue and convert leads into loyal customers. The data companies collect during their day-to-day activities, therefore, carries inherent value to the continued success of the business. However, a data breach can eliminate any trust a customer has in a company, while data loss during a disaster could cause havoc with operations. Recovering from a data-loss incident needs to be a part of every company’s business continuity plan.
The Cost of Not Having a Disaster Recovery Plan
There are many implications if a company doesn’t have a strategy in place to recover lost data in any event. A CompTIA study found that 56% of US businesses do not have a formalized disaster recovery plan, and 32% of IT administrators weren’t creating daily backups of the information used in everyday business tasks.
While 93% of businesses said that data was critical to their success, very few have implemented a comprehensive disaster recovery plan. Business who fail to establish a rigid framework of data security will most likely come to regret it in the future, as revenue losses reached $26.5 billion annually due to downtimes from US company’s systems. Customers also place a lot of trust in the companies they share their information with and view any breach of the data as a breach of that trust. The actual reputational damage a company experiences in the event of a data-breach comes with its own hefty price tag.
Examples of Data-Loss Events
Apart from typical situations such as power interruptions or hardware failures, data-loss events can be catastrophic. Natural disasters can wipe out a company’s entire digital infrastructure, and security breaches can encrypt everything on the network, forcing the institution to pay a ransom before regaining control over their system.
Data-loss events that companies should plan for include:
- Natural disasters including fire, flooding, and structural failures during earthquakes
- Intellectual property theft and cyber attacks
- Community discord that leads to local riots
- Power (and other utility) failures that lead to a loss of supply
Any of the events listed above can cause downtimes that lead to a decline in revenue and cash flow interruptions. Taking care to prepare for all of these scenarios will ensure companies can recover quickly to restore services and limit the extent of any reputational damage.
How to Plan for a Disaster
A disaster can occur at any time and rarely come with a warning. Businesses should establish regular procedures that ensure business continuity using both on-site and off-site solutions to mitigate disasters. The plan should focus on the risk of exposure and the classification of the information involved. For some companies (such as offshore operations), physical data backups need to be airlifted from the platform daily. While most companies don’t face this kind of risk, it’s clear that geographical location plays a large part in developing a disaster recovery plan.
What to Do to Protect Your Missoula Business’s Data
The biggest concern for a company is the backup procedures implemented for every day. New data enters the businesses network daily, and if IT personnel schedule backups weekly, the entire organization may be required to redo all the work for that period.
Coverage of the backed-up data sets is also essential. To reduce storage costs, the company should find a strategy that suits the organization’s needs. A good coverage strategy would be to perform daily backups for one week, then retain the last workday’s backup for each week in the month, and finally, keep one backup for the last day of each month. This will ensure a company never needs more than 21 backups in order to cover an entire year’s worth of data.
Similar to the above, segmenting data according to the discipline (such as financial, human resources, or operations) enables selective recovery. This is ideal when the lost data was specific to a limited part of the information management system.
Kelley Imaging – Your Data Recovery Experts in Missoula, Montana
For companies in Missoula County, Kelley Imaging provides managed network services that ensure business continuity and maximum data security. Serving the community since 1974, Kelley Imaging helps organizations reduce their overall IT costs as well as improve productivity and streamline the process efficiency. With a hosted solution, companies no longer have to rely on internal resources, ensuring they can recover from a disaster.
For comprehensive advice about improving your data security, call one of Kelley Imaging’s experts today.