Why should you create a Data Backup strategy?

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Cybersecurity is not something to be taken lightly by businesses. It is not enough to have basic protections like anti-virus software to protect your valuable files. Hackers spend their time finding ways to get around it. Sooner or later, they will. When that happens, you will not have to worry about permanently losing data. That is if you have implemented a backup strategy to protect your business’s information. Keeping that in mind, here are some valid pointers on why you should have a valid data backup strategy for your business which we created with the help of Minitool.

Why Having a Backup Strategy is Vital
Losing data can not only put your customers’ data at risk but also have a significant impact on your credibility. The average cost of a breach is seven million dollars as of 2019. It is estimated that 60% of companies that experience data loss close within six months. Alternatively, you could be at risk of losing data permanently. Viruses and malware that attack your hardware can destroy it, but these are just some of the most dominant threats.

Studies show that 45% of all unplanned downtime is caused by hardware failures, while 60% of IT professionals say that careless employees are the most significant risk to their data. All of these risks can cost your company money and, without an adequate backup system in place; you could lose everything. Even if your company manages to survive a data loss, it could be costly. Research shows that, on average, companies pay $7 million to recover from a loss. Many companies do not have that kind of money to spare.

These expenses, as high as they are, only tell part of the story. The other price may be something irreplaceable. I am talking about the faith and trust of your customers. If they feel their data is not safe with you, they will take their business elsewhere. The solution is to create and implement a data backup strategy. With the right tools, planning, and training, you can protect your data.

The Components of Efficient Backup Strategies
Before you create your backup strategy, you should know what to include. Let us break down some of the backup strategy best practices:

Cost. You will need a data backup plan that you can afford. It is a good idea to think beyond dollars. Keep the potential expense of a breach or loss in mind. Then, weigh that against the projected cost of your backup system. That will help guide you.

Where to store copies of your data?

Some companies prefer cloud-based backup. Others like to have a physical backup. The most cautious companies use multiple backup sources. That way, if one backup fails they have another in place.

What data risks do you face?

Every company must think about malware and phishing attacks. However, those might not be the only risks you face. A company in an area that is prone to flooding must consider water damage. Having an off-site backup and data storage solution would be wise.

How often should you back up your data?

Some companies generate data quickly. In such cases, a daily backup may not be sufficient. Hourly backups may be needed. For other companies whose data is rarely updated, a once-weekly backup may be enough.
Who will be responsible for your backup planning? Employee training is essential to an effective file backup strategy. You need knowledgeable people you can rely on to keep things running.

These things are essential, but they are only the tip of the iceberg. You must consider each aspect of your backup plan in detail. Then, you will have to implement it as quickly and efficiently as possible.

Don’t Overlook Backup Strategies For Your Business
No company should be without a comprehensive backup system. It is the only way to prevent data loss. Every business has some risk. Whether your primary concern is a natural disaster, cybercrime, or employee carelessness, having a secure backup system can give you the peace of mind you need.

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