It’s estimated that 92% of data on various storage devices across the whole world has been produces in the past two years. This data are the basis of operation for all systems, hence they must be available in emergency situations. Regular backups are the basic rule of security systems. It helps you effectively protect your resources against most accidental events, such as: hardware theft, fires, re-installations, hacking attacks, or human error.
First, lack of access to data means financial losses. According to the “Veeam Availability Report 2017” report, organisations lose an average of $21.8 million due to unplanned downtime. It’s 36% increase compared to the previous year.
It is recommended to a security strategy should follow a 3-2-1 rule. Backup should be kept in three copies, using at least two storage devices, one of which should be outside the main location, e.g. other company office or a cloud by an external provider.
Such protection means that in case of a ransomware attack, which typically targets data, not systems, we’ll be able to recover data from a storage device isolated from an infected environment. You’re not going to lose money either for ransom, or as a result of losing your customers buying at your competition because of the failure. When your resources are located in the cloud, backup covers the entire virtual machine without purchasing physical equipment.
It’s not only necessary to have a backup itself, but the time it takes to recover data, since the longer it takes, the more money we lose. According to an international study by Veeam, the average downtime cost of a strategic application per hour is almost $80 thousand.
The most frequent non-financial consequences of insufficient security and lack of data are the loss of customer and employee trust, as well as loss of reputation.