How Boulder Companies Bounce Back After Data Loss

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How Boulder Companies Bounce Back After Data Loss

How Boulder Companies Bounce Back After Data Loss - IT Services - MSP Company - Integritek

Data loss is a serious problem for companies of all sizes. When companies lose data, they can suffer brutal delays in how they do business, lose a fortune in revenue and productivity, and watch helplessly as customers get disappointed by a bad experience and take their money elsewhere. In fact, about 94 percent of companies suffering from a catastrophic data loss don’t survive—43 percent reopen and 51 percent close within two years, according to the University of Texas.

Understanding Data Loss

Data loss occurs when a company’s sensitive and/or valuable information is compromised due to the following reasons:

  • Hardware failure, including damage by drive failure and power surge
  • Human error, including accidental deletion
  • Software file corruption
  • Virus infection
  • Theft or data breach
  • Hardware loss including floods, lightning, fires, earthquakes and power failures

Data loss is different from data unavailability—which is mainly caused by power outages—and from a data breach—which refers to sensitive data being stolen.

However, data loss is often used interchangeably with a data breach, as cybercriminals don’t always give sensitive data back, or destroy it in the hacking process.

The Impact of Data Loss to Companies

Data loss is a major problem that hampers the day-to-day operations of a company. When valuable and/or sensitive files and information are lost, a company must spend resources and time recovering or recreating these files to fill the gaps left by loss. Smaller data loss cases may only cost hundreds of dollars to recover. However, some business data loss recovery can cost your company hundreds of thousands of dollars.

Data loss also delays productivity timelines, causing a company to lose customers if it’s accompanied by security breaches. When confidential data is compromised, companies must disclose this to their customers, causing them to lose their customers’ trust and respect. Companies may also face fines and lawsuits for failing to protect sensitive customer data.

How Boulder Companies Recover After Data Loss

After experiencing a data loss, companies should consider all options in recovering lost data. Here are a few steps companies should take after experiencing data loss:

  • Determine if data loss requires any form of recovery action—Companies should consider whether it’s worth the money or the effort to recover lost files. If the lost files directly impact daily operations, such as invoices and accounting documents, companies should take them back at any cost.
  • Check backups—Checking backups allow companies to determine whether any of the lost data can be recovered from this source.
  • Use a data recovery software—When the files are not accessible from a backup and the hardware that stores the target files are still functioning, then using a software solution is likely to recover the target data.
  • Seek the help of professionals—There are complicated issues that cannot be resolved without the help of experts. Technologies such as encryption and SSD are some examples of when expert guidance is necessary so companies can make an informed decision of how to proceed with data recovery.

Data losses can be a total nightmare for companies of all types and sizes. That’s why they should take preventive action to avoid data loss. Remember that prevention is always the best protection. If companies keep data a high priority at all times, they will be protected in case of any data loss.

Need help implementing systems to protect data against losses and ensure business’ continuity? Contact Integritek today to discover its custom solutions.

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