Here at Beringer Associates, data security is of the utmost importance. Ask any member of our team and you'll find everyone is constantly backing up their data and creating effective redundancy throughout the day. Any expert in the field will tell you that keeping current data backups is important, but have you ever sat down and wondered why? Data loss can occur as a result of several incidents, from UPS battery failure to changes made by a company's own administration! Even the most confident of employees could cause data loss. Realistically it is not a question of "if," but a question of "when." While the importance of training employees to be safe with data and follow proper procedures before executing changes that could disrupt service is paramount, having effective data backups in place is just as important. According to a study by EMC Corporation(1), enterprises have lost up to $1.7 trillion dollars in 2014 alone. Data loss doesn't just cost your company money, but also time and effort to remedy the problem.
When was the last time you evaluated the efficiency of a data recovery solution? Consider for a moment how much your business of only 30 people can expect to lose during a service outage. The image below is a brief overview of the costs of service outages and data lost.
No business, regardless of size, is immune to the operating cost of losing data. It can be all too easy to lose track of your data solution and the cost adds up quickly. Emerson Network Power concluded that downtime in a data center can cost companies more than $5,000 per minute(2). One particularly terrible statistic is that the average incident length was only 90 minutes and yet had an average cost of $505,500. Suffice it to say, data protection technology is vital. Some businesses choose to rely on multiple vendors while others prefer to utilize only one. You might think that in the interest of redundancy, having multiple vendors and multiple solutions is the way to go. The same study by EMC Corporation revealed the exact opposite. In fact, enterprises that chose to rely on multiple vendors spent upwards of $3 million MORE than other companies but also managed to lose three times more data. When you have that many moving pieces, it's easy to imagine a wrench in what should otherwise be a smooth, efficient data backup.
If your company has suffered from service disruption and a loss of data, you're certainly not the only one. Between 2012 and 2014, the volume of lost data increased by 400 percent. Rather than run the gauntlet of dizzying data solutions, reach out Beringer Associates to learn more about our Backup Disaster Recovery solution. The numbers I mentioned above concern us too and because of that our company has created an efficient, simple solution to protect your data. If you have any questions about the cost of losing your data and want to know about mitigating the damages, contact Beringer today!
(1) "Downtime and Data Loss Cost Enterprises $1.7 Trillion Per Year: EMC," Kovacs, Eduard. December 02, 2014. Security Week. http://www.securityweek.com/downtime-and-data-loss-cost-enterprises-17-trillion-year-emc
(2) "Emerson Network Power, Ponemon Institute Study Quantifies Cost of Data Center Downtime." Emerson Network Power. http://emersonnetworkpower.com/en-US//About/NewsRoom/NewsReleases/Pages/EmersonNetworkPower,PonemonInstituteStudyQuantifiesCostofDataCenterDowntime.aspx