Many organizations feel that they can sleep easy at night when faced with the prospect of an unexpected IT disaster, just because they’ve conducted a backup of their data at some point in the past. However, this false confidence might not be justified. This attitude can sometimes lead to serious data loss, potentially resulting in millions in lost revenues.
For large enterprises, the smallest amount of downtime can have serious monetary consequences, averaging thousands of pounds per minute. Gartner’s ‘Downtime Cost Calculator for Data Centre Disaster Recovery Planning’ tool places the cost at around $5,600 per minute on average. Though data breaches are by no means the only way a company can lose data, the cost of downtime can clearly have a significant impact.
Cyber-attacks have been one of the highest profile causes of data loss in recent years. In 2018 ransomware, distributed denial of service (DDoS) attacks, and other forms of malware have been a constant threat looming on the corporate horizon, threatening to freeze business operations for weeks at a time. Today’s cyber criminals never sleep and are always finding new ways to cause trouble for businesses.