Cloud Backup Can Help Mitigate Downtime, Losses
By Christine Kern, contributing writer
An infographic from private cloud company SingleHop reflects the results of a study that shows that while enterprises may pay close attention to their servers, they are less likely to protect their endpoint data from downtime or loss. The infographic examines the top causes of data loss, as well as the costs of data loss, and demonstrates that forward-looking IT leaders are making the move to cloud backup for efficiency and reliability.
The study found that only half of companies have endpoint backups in place, leading 16 percent of end users to do their own backups via a non-approved solution. SingleHop points out that this is counterproductive, given the fact that loss of mission-critical data can cost an average more than $70,000 per hour and even losing non-critical data can mean a loss of $42,000 per hour.
And since today’s data is at an increasing risk of being lost or compromised, backup is crucial to enterprise success. According to industry sources, digital data doubles at a rate of less than 2 years.
The infographic examines the top causes of data loss, as well as the costs of data loss, and demonstrates that forward-looking IT leaders are making the move to cloud backup for efficiency and reliability.
Among the top causes of downtime are operational problems (45 percent), natural disasters (36 percent), and human error (19 percent), and downtime leads to a number of issues including loss of employee productivity (72 percent), loss of employee morale (37 percent), loss of business opportunities (37 percent), loss of revenue (35 percent), loss of customer confidence (33 percent), damaged corporate reputation (26 percent), loss of partner confidence (16 percent), and customer compensation (13 percent).
And while the costs of a single incident may be as high as $341,000 for mission-critical data or $607,500 for non-mission critical data, organizations encounter unplanned downtime 13 times a year — that’s more than once a month — on average. And data loss and privacy breaches remain the greatest concern for IT leaders in the coming year.
So, what do forward-looking IT leaders think? Almost 8 in 10 report that they plan to change their protection product within the next two years, and 64 percent said that they already store their data in the cloud. Also significantly, IT organizations reported that they will utilize an external third party to manage the restoration of data.