For almost every company, information in the form of documents, contracts, correspondence, accounts, etc. is critical. Modern technologies not only help in managing business-critical data, but are also sometimes responsible for losing it in the blink of an eye. For most businesses, losing access to data means that all business processes come to a standstill, which inevitably leads to lost profits, reputational damage, and the cost of restoring such data.
There is no shortage of such data loss scenarios, and the fate will certainly not change quickly – and almost none of such cases is related to the quality of the equipment used. Here are some examples of when you may lose valuable data.
A company employee can click on a malicious file downloaded from the Internet or an attachment received in an email from cybercriminals. As a result, data is not only encrypted on the local computer; ransomware usually damages everything that the victim’s computer communicates with (connected network drives, external media, etc.). In theory, data can be recovered by paying the ransom requested; in practice, no one can guarantee it.
Last year, a ransomware infection paralyzed the IT systems of the government in the city of Baltimore, Maryland , which chose not to pay the ransom and accepted a loss of $ 18 million.
Small and medium-sized companies often store (sometimes all) the most important information for the company on the CEO’s disk. It is rarely a computer that remains in the office. Businesses today are very mobile, so it’s more likely that this drive is in a laptop and travels with its owner to meetings and business trips. This means that it can easily be stolen – from a hotel room or a taxi.
On hot days, the load on the hardware of each computer increases and the cooling systems run at full speed. Not all manufacturers use additional ventilation for hard drives, and some create laptops in which the airflow does not reach the data carrier. This can lead to drive failure due to overheating. An even more vulnerable group here are the owners of furry pets. As the proud owner of several cats, I have to clean my laptop fans at least once a year, otherwise the device is at risk of overheating, even in winter.
Revenge at the workplace
Conflicts at work are not uncommon. A person who disagrees with the management’s decision may fire themselves and remove critical information. The fewer backups a company has, the more likely sabotage will be successful.
How to store information critical to companies
According to our colleagues at the company, the average cost of a data loss incident is about $ 1.23 million. for larger companies and 120 thousand. dol. for smaller organizations. For this reason, we can give everyone a few tips:
- Back up at least the data that is most important to you, and preferably everyone.
- Regularly create backups, and preferably automate this process; otherwise it is very easy to fall into routine tasks and forget this step.
- Have at least two backups – preferably one of them is stored on physical media in your company and the other in the cloud.
Our small business protection solution can back up vital data to both local storage and the cloud. Moreover, it can create backups automatically.