Did you know that the Global Risk Report 2018 ranked cyber-attacks as the third most likely global risk for 2018? They came behind adverse weather conditions and natural disasters. So, what does this ranking mean? The evidence presented above suggests that hacking is becoming an international disaster. Therefore, you have to guard your business data using every means. For instance, you can use our Microsoft 365 backup solutions to back up your Office 365 data.
Generally, data backup refers to the process of copying relevant data from the primary source to another location to safeguard it against loss caused by accidents, natural disasters, and criminal activities. With the advent of several advanced technologies nowadays, there are many data backup options to choose from. These can include backing up files on removable media tools, such as flash drives, setting up a redundant system, using external drives and backup software, and getting cloud backup services.
But before doing that, let’s clarify who needs to back up their data. Continue reading this post to discover who desperately needs this preventive remedy.Â
Anyone Who Fears Deadly Downtime
Any business that understands the consequences of data loss must fear deadly downtime because it can destroy small businesses for good. It’s no wonder that as early as 2007, a University of Texas study revealed that 43% of all small businesses that suffer severe data loss close down. So, any business that doesn’t want to become sad history after a data crash should back up its data. That way, they can still access relevant company data and continue to operate despite the downtime, thereby minimizing the risk of financial losses.
Those Who Want to Enjoy a Competitive Advantage
Every business that wants to enjoy a competitive advantage after a data crash must back up its data. Let’s assume that a natural disaster strikes downtown New York City, leading to all retailers’ closure in that area. Let’s also assume that the catastrophe causes data losses to most of those retail shops. Only those enterprises with backed data will survive by recovering and capturing the first customers after business resumes there.
Therefore, businesses that want to stay on top of the competition should routinely back up their data. In addition, they should establish a policy on data backup and data recovery as soon as possible. That way, they will be ready once a location-wide catastrophe causes significant downtown and data losses to all businesses in the area. In case you need help with your data backup efforts, you may hire a reputable IT services company in your area.
Enterprises that Want to Beat Physical Disasters
All businesses that want to survive destructive natural disasters must back up their data. The reason is that calamities, such as floods, hurricanes, and earthquakes, can destroy all or most physical data backup devices. Consequently, your businesses could be rendered dataless. Result? You will be grounded and most likely close down temporarily or permanently. Therefore, backing up your data online is a safer option to survive the long-term effects of a physical disaster on your daily business operations. With a data backup solution in place, you can mitigate the financial losses your company would incur in case of a temporary or permanent shutdown.
Businesses that Want to Comply
All businesses that are required to retain their business records for longer periods should back up those details. This requirement could be for regulation, auditing, or taxation purposes. Therefore, it’s prudent to back up your information securely to meet these requirements. Otherwise, you could end up in legal trouble such as revocation of business permits, payment of expensive taxes, and similar situations.Â
All Businesses that Want to Learn from the Past
The past is the past. However, it holds raw materials you can harness to consolidate today and prepare for the future. Therefore, back up your data because it allows you to revisit the past and learn from it. For instance, you can identify specific trends only after analyzing data from the last ten or five years. This analysis is impossible if you lost the data that recorded your past dealings. Also, you can use such information to make informed predictions and learn from past mistakes.
Businesses Seeking a Quick Recovery
Does any business require a quick and smooth recovery of its data after a disaster? Yes, all businesses want, and like that. Therefore, every business should back up its data to ensure it rises from data disaster ashes faster and safely. Otherwise, prolonged downtime could kill your business for good. When this happens, you’d be left with no choice but to cease business operations to cut your losses and save anything that could be saved from the disaster.
Businesses That Don’t Want to Lose TimeÂ
Data loss can cause time loss too. For instance, when a business loses its database, it could need to spend time writing it anew. However, if it backs it up securely, it won’t waste employees’ time on efforts to rewrite that information. So, who needs to back up their data? All businesses that value their precious working time need data backup. Otherwise, they have to spend more financial resources to cope with the effects of a data breach and data loss.Â
Organizations that Mind Their ReputationÂ
Lastly, data backup is vital for all businesses that mind and value their reputation in the public’s eyes. Why? Because every data loss dents a company’s image. This denting can lead to lost business from new and existing customers because it loses their trust. So, if you don’t want to lose your good reputation and suffer its consequences, back up your data today.
Data backup is necessary for all business and non-commercial organizations for many reasons. For instance, they should back up their information to avoid costly and disruptive downtime. Also, they need data backup because they have to maintain a good reputation. Thus, with the information mentioned above, we conclude that data backup benefits all organizations their size notwithstanding.
