Backup versus business continuity and data protection solutions are essential for businesses of all sizes to implement, regardless of size, industry and geographic location. In this blog post, we’ll discuss the importance of business continuity rather than simply backing up your data. We’ll also explain how to quickly evaluate your internal recovery process and downtime costs to ensure you find the best solution for your needs.
Downtime is real and it’s costly. How costly exactly? Depending on the size of the organization, the cost per hour of downtime is anywhere from $9,000-$700,000. On average, a business will lose around $164,000 per hour of downtime. The numbers speak for themselves.
What causes downtime? Network outages and human error account for 50% and 45% of downtime, respectively. Meanwhile, natural disasters account for just 10 percent of downtime. When you look at the the cause of downtime by data volume, the #1 culprit is, once again, human error, at 58%. As it turns out, businesses should be more wary of their own employees and less of natural disasters.
If you’ve been putting off data protection because your organization is located far from any inclement weather, be warned: the bigger threat to your data is inside of your company, not the great outdoors.
What’s at stake?
2.5 quintillion bytes of data are generated daily. And 90% of the total data in existence was created within the past few years, a significant portion of which has been generated by small businesses. Considering all the servers, desktops, and laptops that the typical SMBs manage, it adds up to a lot of data to protect. Yet nearly 75% of SMBs operate without a disaster recovery plan and only 25% are “extremely confident” that they can restore data if it was compromised. Only 50% of SMBs back up less than 60% of their data. The remaining 40%? No protection for it whatsoever. How much does this cost?
What happens when disaster strikes? Businesses must scramble to retrieve important data. According to the International Data Group, it takes around 7 hours to resume normal operations after a data loss incident, with 18% of IT managers saying that it takes 11 to 24 hours, or even longer.
OVER THE PAST FEW YEARS, 35% OF SMALL BUSINESSES HAVE LOST AS MUCH AS $500K DUE TO DOWNTIME. datto.com
The Aberdeen Group found comparable numbers when comparing best-in-class companies with “average” and “laggards” in the matter of downtime and recovery. Multiply even the average amount of time it takes to recover from a downtime event (5.18 hours) by the average cost of downtime, and you’ve got a large bill to pay by any standard.
Small wonder that 40% of all businesses close their doors permanently after a disaster, according to the Federal Emergency Management Agency (FEMA). Similar statistics from the U.S. Small Business Administration (SBA) indicate that more than 90% of businesses fail within two years after being struck by a disaster.
What are SMBs doing to protect themselves? Over 60% of them still ship tapes to a storage facility or another office, a surprising number, considering the technology is over four decades old and the storage and retrieval processes are extremely cumbersome. Meanwhile, nearly 20% are already using some sort of cloud-based data backup.
In our next post will discuss Local backup versus Cloud Backup.
DTS InfoTech Can Help
Most small businesses do not have the technical resources to understand all this geek stuff. If this describes you, we can help! If you would like more information please give us a call, we’re always happy to chat and the call is free.
Return to Data Backup
Dedicated to your success,
General Manager and Compliance Officer
dts|infotech . . . computer networks that work