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Most small businesses don't have a backup plan that fully protects them!
An industry study by the analyst firm The Diffusion Group surveyed more than 1,000 small business organizations about their data storage habits and revealed that nearly half of them conducted manual back-ups based solely on habit...
Despite technological advances in the reliability of magnetic storage media, data loss continues to rise, making data recovery more important than ever. On track engineers have identified three trends that are leading to this increase in lost data.
  • More data is being stored in smaller spaces. Today's hard drives store 500 times the data stored on the drives of a decade ago. Increasing storage capacities amplify the impact of data loss, making mechanical precision more critical.
  • Data has become more mission-critical. Hospital patient records. A graduate school thesis. Personal finance and tax information. Payroll records. Users today are storing more information electronically than ever. The loss of mission critical data can have staggering financial, legal and productivity ramifications on businesses and home users alike.
  • Backup tools and techniques are not 100% reliable. Most computer users rely on backups as their safety net in the event of data loss (a recommended practice). Ontrack research indicates that 80 percent of its data loss customers regularly back up their data, only to find them less than adequate at the critical moment they need to restore them. Backups assume that hardware and storage media are in working order; that the data is not corrupted, and that your backup is recent enough to provide full recovery. In reality, hardware and software do fail and backups don't always contain current enough data. 
Why to back-up your data regularly?
  • 6% of all PCs will suffer an episode of data loss in any given year. Given the number of PCs used in US businesses in 1998, that translates to approximately 4.6 million data loss episodes. At a conservative estimate, data loss cost US businesses $11.8 billion in 1998. (The Cost Of Lost Data, David M. Smith)
  • 30% of all businesses that have a major fire go out of business within a year. 70% fail within five years. (Home Office Computing Magazine)
  • 31% of PC users have lost all of their files due to events beyond their control.
  • 34% of companies fail to test their tape backups, and of those that do, 77% have found tape back-up failures.
  • 60% of companies that lose their data will shut down within 6 months of the disaster.
  • 93% of companies that lost their data center for 10 days or more due to a disaster filed for bankruptcy within one year of the disaster. 50% of businesses that found themselves without data management for this same time period filed for bankruptcy immediately. (National Archives & Records Administration in Washington)
  • American business lost more than $7.6 billion as a result of viruses during first six months of 1999. (Research by Computer Economics)
  • Companies that aren't able to resume operations within ten days (of a disaster hit) are not likely to survive. (Strategic Research Institute)
  • Every week 140,000 hard drives crash in the United States.
  • Simple drive recovery can cost upwards of $7,500 and success is not guaranteed.
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5 day back-up cycle
The contents of the articles published on this website reflect the current view of the authors, the accuracy and completeness of which Bidvest Bank does not guarantee and Bidvest Bank disclaims any liability for the consequences of reliance on their contents. The articles have been prepared for general information purposes and do not constitute advice or any recommendation: independent tax, accounting, legal and financial advice should be sought.