Honest question. Have you heard people talking about backing up data? Well, of course, you have. But you probably haven’t given it much thought. You’ve heard big companies and organizations alike talk about how important it is to back up data. But that doesn’t mean that you’ve joined the bandwagon. At least not yet. And I bet you are probably even wondering why is backing up data important?
Well, it’s 2019.
We are deep in the age of data. In fact, you could say that data is the lifeblood of your business. And the last thing you want is to jeopardize the life of your company and risk substantial permanent data loss, business closure, and downtime.
And while most business owners like to bury their heads in the sand and hope that that won’t happen to them, as a business owner you know that it is not enough to sit and hope that something bad doesn’t happen.
The harsh reality is that you will be faced with data issues at some point in the course of running your business. In fact, according to recent studies, there have been 4,000 daily ransomware attacks since 2016. And let’s not even talk about the risk of cyber attack and crippling viruses that face out every bit of data you have. And that’s what makes backing up your data so important.
So in this blog post, I’ll be sharing on other benefits of data backup for your business and why you should ensure that you have backed up every single piece of data.
Let’s get started.
Why is Backing up Data Important?
It is Costly Not to Back Up Your Data
Ever heard the saying prevention is better than cure? Well, of course, you have. You might think the cost of backing up data is way too much. But if you consider the impact of losing all your data and all that your business stands to lose as a result, that number is surely a little over what you would use to back up the data in the first place. As a matter of fact, a report from Verizon found that loss of fewer than 100 files can cost you up to $35,730. That’s way too much! And the number goes higher when you lose more files.
Regular Backups Preserve Your Data in case of Natural Calamities
Natural disasters might not seem like a big deal but they’ve been the bane of businesses for quite some time. So much so that a whopping 90% of businesses fail two years after suffering a disaster. And according to statistics from FEMA, 40% of businesses barely even get to reopen after a natural calamity and an additional 25% fail within a year. Sure there are other factors that come into play but part of the problem has to do with failure to back up data. Which in essence means that should something happen to your data, you have to start from scratch. You can save yourself the hustle by simple using a data recovery software to recover your data and get your business back on track.
Preserve Your Reputation
I’ll just come out and say it. Often times, people do business with you because of your reputation. And one of the most common ways that they get to know about your brand is through a good word from a friend or general reviews from your customers. However, when you suffer data loss, you open your company and business up for public scrutiny and in the process lose your credibility. Not to mention you’d have to explain to your clients every time that you lost your data which can be annoying.
Several businesses have suffered a slap in the face as former employees steal company documents and information that they helped create. In fact, according to Biscom, a whopping 85% of employees revealed that they have stolen company documents that they helped create. While others stole information that they didn’t create. Now, there’s a lot of misconceptions as to why employees would want to steal company data. It could be because they want to hurt the business, they want to express their discontent or simply sell it to the highest bidder. And I don’t have to tell you the aftermath. To ensure that your data is well secured, you need to make use of data encryption software to ensure data security against theft.
It Helps Protect Your Data in the Event of Ransomware
As I said earlier, ransomware and other cyber threats have become extremely rampant. And once you’re hit, you’re locked out of your own data until you pay the ransom. Now, I know it all sounds so foreign and you’re probably thinking your small business is a way to small to fall under the radar of such an attack. But it’s not entirely impossible. Besides, you’re not invisible so its best to secure your data and back it up so that you can save yourself the hurdle of paying tons of ransom to reclaim your data.
Backing Up Your Data Preserves Your Data In Case of Technology Hiccups
Let’s not try to be cute and beat around the bush. Although technology is a good thing, it comes with its fair share of pitfalls. Top of the list being program failure. And in the event that there are underlying technology hiccups, you could lose all your data.
The technology we have access to these days is both a blessing and a curse. And with all sorts of threats lurking around, you are now more than ever likely to lose your data with the blink of an eye. Which is why it is important to back up your data. And quite frankly, the one mistake you can do is ignore all that experts are saying. So, if you’re still wondering why is backing up data important, I believe the few benefits I have pointed out in this blog post will help give you a nudge.