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Why Disaster Recovery Should Be Part of Your Holiday Planning

While executives often feel the organization is very ready to recover from data loss or damage, their IT professionals say. Being dark for days at a time can significantly change income income for small businesses, especially during the busy holiday shopping season.

If your small business has a busy holiday shopping season, disaster recovery readiness should be a major part of your vacation planning process. A 2016 survey revealed a huge disconnect between C-suites and IT professionals in terms of how ready they were to think their organization would handle disasters. While almost 70 percent of level C executives feel their organization is “very prepared” to recover from data loss or damage, less than 50 percent of IT professionals in the same organization agree.

Many businesses make the most of their annual income during the Q4 holiday season. Being dark for days at a time can significantly change income income for small businesses. Read on to better understand the risks posed by losing data and what elements small businesses must include in their disaster recovery plans.
The top risk caused by loss of data

With advancements in business software, your business is likely to rely on cloud-based technology to carry out your daily operations. If one of these services goes down, your business can be paralyzed – unable to process sales, offer products or services online, linking your order collection efforts with your order fulfillment operations, or accessing your employees’ salaries to record working hours.

Your data can be permanently lost after an outage or error. In the 2015 Data Violation Investigation Report, Verizon found that small data violations (less than 100 missing files) could cost businesses $ 18,120 to $ 35,730. It’s not a small line item, and it doesn’t even cover a larger data breach. Furthermore, according to the National Archives and Archives Administration, more than 90 percent of companies experience at least seven days of data center downtime out of business in a year.

As businesses increasingly move online and software helps companies process customer preferences and purchase history, your small business can now capture more customer information and financial data than ever before. This data, including the finances of your own business, is very attractive to computer hackers. Hacking skills are becoming more common, and hacking incidents begin to affect large and small businesses. Hackers violate more than 50 percent of 28 million American small businesses, according to the State of SMB Cybersecurity Report 2016. A hacker can not only steal your financial data or customers, but also delete information as a whole to cover their tracks. This can cause your business to face serious operational challenges, especially regarding accounting and tax payments.

Natural disasters such as floods, earthquakes, hurricanes, snowstorms, and other extreme storms can cause data centers or online services to experience downtime as well. Locally stored files, such as those on a server or hard drive, can be easily deleted because of a power surge caused by storms, fire, water damage, or even just dropped or destroyed.

Finally, loss or theft of your customer’s data can harm your business due to lawsuits and fines. For larger businesses, data loss that leads to a significant reduction in company value or shares can result in shareholder lawsuits. Be sure to note whether your business or vendor contract contains a clause related to data protection requirements.
An important element of a disaster recovery plan

Cloud service leverage. Saving data in the cloud and improving cloud-based programs can help businesses solve problems four times faster than businesses that use files or local storage. Data stored in the cloud is not subject to general data loss or causes of damage such as power surges, water damage, fire, or damage solely such as dropping or destroying a hard drive.

While executives often feel organizations are very ready to recover from data loss or damage, their IT professionals say. Being dark for days at a time can significantly change income for small businesses, especially during the busy holiday shopping season.

If your small business has a busy holiday shopping season, disaster recovery readiness should be a major part of your vacation planning process. A 2016 survey revealed a huge disconnect between C-suites and IT professionals in terms of how ready they were to think their organization would handle disasters. While almost 70 percent of level C executives feel their organization is “very prepared” to recover from data loss or damage, less than 50 percent of IT professionals in the same organization agree.

Many businesses make up a large portion of their annual income during the Q4 holiday season. Being dark for days at a time can significantly change income for small businesses. Read on to better understand the risks posed by losing data and what elements small businesses must include in their disaster recovery plans.
The highest risk is caused by loss of data

With advancements in business software, your business tends to rely on cloud-based technology to run your daily operations. If one of these services goes down, your business can be paralyzed – unable to process sales, offer products or services online, connect your order collection efforts with your order fulfillment operations, or access your employees’ salaries to record working hours.

Your data can be lost permanently after a blackout or error. In the 2015 Data Violation Investigation Report, Verizon found that small data violations (less than 100 files missing) could cost businesses $ 18,120 to $ 35,730. This is not a small line item, and does not even cover a larger data breach. Furthermore, according to the National Archives and Administration Agency, more than 90 percent of business companies experience at least seven days of data center downtime from the business in a year.

As businesses increasingly move online and software helps companies process customer preferences and purchase history, your small business can now capture more customer information and financial data than ever before. This data, including the finances of your own business, is very attractive to computer hackers. Hacking skills are becoming more common, and hacking incidents begin to affect large and small businesses. Hackers violate more than 50 percent of 28 million American small businesses, according to the State of the SMB Cybersecurity Report 2016. A hacker can not only steal financial data or your customers, but also delete information as a whole to cover their tracks. This can cause your business to face serious operational challenges, especially related to accounting and payment of taxes.

Natural disasters such as floods, earthquakes, storms, snowstorms, and other extreme storms can cause data centers or online services to experience downtime as well. Locally stored files, such as those on the server or hard drive, can be easily removed because of power surges caused by storms, fire, water damage, or even just falling or breaking.

Finally, loss or theft of your customer’s data can harm your business due to lawsuits and fines. For larger businesses, loss of data that leads to a significant decrease in the value or shares of the company can result in shareholder lawsuits. Be sure to note whether your business or vendor contract contains clauses related to data protection requirements.
An important element of a disaster recovery plan

Cloud service leverage. Saving data in the cloud and improving cloud-based programs can help businesses solve problems four times faster than businesses that use files or local storage. Data stored in the cloud is not subject to general data loss or causes of damage such as power surges, water damage, fire, or damage solely such as dropping or destroying the hard drive.

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