The Importance of Backing Up Data

As a business owner, you’ve heard it before: “You should back up your data.” If you haven’t listened to the advice yet, there must be a reason.


Your Takeaways

  • Most IT decisions come down to perceived risk vs. cost
  • Backing up data improves trust, growth and flexibility while lowering costs
  • You have to decide on three things: information, frequency and speed
  • Download a free checklist, 10 Easy Steps to Get Started Backing Up Your Data, to help you get started

For a lot of business owners, it comes down to perceived risk vs. cost. They ask “What’s the risk of losing my data versus the cost it will take to back it up?” And for many business owners, they’re ready to hedge their bets on not losing data. Well, you can guess what we’d say to that.

But here’s the thing, if you’re reading this, you’re not totally convinced your business is safe. Our job is to show you’re right, and that won’t be easy for us. See, the actual statistics on data backups are few, far between, and outdated (we’re talking 2004-2005).

We’ve seen all kinds of unsourced numbers thrown around the internet and we realized something. You’ve got access to dozens of stats —albeit unverified — to convince you that data backup is important. But you’re still not on board yet. This means you’re different, you don’t take things at face value, you want to learn more. So let’s get straight to the point.

Why is Data Backup Important?

Backing up your data protects your company. It minimizes the risk your business is responsible for including data breaches, data loss and data stealing.Question Mark - Why is data backup important?

Backing up your data:

  • Improves company trust with customers
  • Decreases lost time and money due to unexpected issues
  • Supports scalability and future planning opportunities
  • Allows employees flexibility and mobility

Trust

People buy things because they trust the product or service. If your business loses that trusts, it loses customers too. With proper backups, your business operations can continue if something happens to your data. You can minimize or eliminate halts in product/service delivery, keeping that customer trust intact.

With data backups, you won’t have the same problem Myspace currently does. Your good PR will remain and customers will be satisfied.

Costs

If your employees can’t access the files necessary to work, your business is effectively shutdown. That downtime can cost you from $10,000 all the way to $5 million. Not only will you lose money, but you’ll lose critical time as employees attempt to catch up on responsibilities.

The worst case scenario would be hackers. With a security breach, hackers can take control of your data and hold it for ransom. The cost to get your data back could be enormous. With data backups, you can avoid such problems.

With the Cloud Especially… 

Growth

Your IT environment can affect the growth of your business. You have to account for computer space, server room and more, along with the other needs of your business. With cloud storage, you can minimize the IT-related space your office needs. By storing your data remotely your business can grow with less to worry about.

Flexibility

Think about how your business operates. Are employees on the go? Do you plan to hire remote workers? With the cloud, your team can access files from anywhere as long as they have an internet connection. This allows greater work-life balance for your employees, improving job satisfaction and productivity.

Anything can happen. Without proper backups, your data could be lost forever. Backups are a fail-safe for life’s unknowns, allowing your company to continue with confidence.

What Are the Consequences if Data isn’t Backed Up?

In one word: loss. In many words, the consequences of not backing up your data range from minor inconveniences to major problems. Here are some things that can happen:

  • Irreversible data loss resulting in lost personal private information and important company documents
  • Paying potentially thousands of dollars to hackers holding your data ransom
  • Temporary business shutdown resulting in lost consumer confidence and cash flow
  • Legal action and fines taken due to breaking industry, federal and state compliance regulations
  • Wasted time rebuilding what was lost, taking employees away from their job responsibilities

How is Data Backup Done?1,2,3 Data backup involves 3 things

Data backup involves three important things: information, frequency, and speed

1. Information: What data needs to be backed up?

2. Frequency: how often will you back up your data — hourly, daily, weekly?

3. Speed: How quickly does your data need to be retrieved pending issues or emergencies?

 

Where is Data Backed Up?

Once you’ve determined these three things, it’s time to see which backup method is best for your company. From internal hard drives to removable storage and the cloud, what matters most is “redundancy.” Redundancy is the method of having duplicated information.

It ensures we have a backup to our backup. We suggest to our clients they back up files locally (meaning onsite) as well as offsite in a separate disconnected location. This way, if your local backups are destroyed by flood or held ransom by hackers, you don’t have to worry — your offsite backups are ready to go.

Take these two examples.

Business 1

Business 1 understands the value of backing up data. They’ve done their homework and determined the best way to back up their data is on a local server and the cloud. Hackers breach Business 1’s network, locking their files and demanding a $2,000 ransom.

Because of redundancy, Business 1 isn’t held hostage by the hackers. They can access their files from the cloud and continue working while the ransom mess is dealt with accordingly.

Business 2

Business 2 decided to take the risk and not back up their data. Like Business 1, hackers breached their network, locking their files and demanding a $2,000 ransom.

Business 2 has no choice but to give into the hackers’ demands to get their data back. Not only will Business 2 have to pay the ransom, they’ve also lost time as well as trust when consumers find out what happened.


A Look at Cloud Data BackupLightbulb cloud - A look at cloud data backup

Although cloud technology seems new, it’s actually been around since the 60s! Cloud data backup provides a streamlined and accessible way to store your data safely.

Rather than using the storage space on your personal device (computer, phone, tablet), your information is put on virtual servers that connect to huge data centers. To learn more about how it all works, check this out.

There are two ways you can have cloud data backups. Through public cloud offerings or privately-held ones. And there are three types of computing models to choose from:

  • Infrastructure as a Service (IaaS)
  • Platform as a Service (PaaS)
  • Software as a Service (SaaS)

The one you choose depends on your unique needs. At iVenture, we offer a private IaaS cloud that delivers a secure, reliable and scalable solution for businesses.

How You Can Get Started Today Backing Up Data

Regardless of what you choose, it’s important to start now before something happens. You don’t want to be left stranded when your data is gone.

To help you, download this checklist, 10 Easy Steps to Get Started Backing Up Your Data. In it, you’ll learn what steps to take to get your business on the right path.


Downloadable Checklist

10 Easy Steps to Get Started Backing Up Your Data

 

iVenture Solutions is an award-winning managed service provider delivering superior IT solutions to clients across Florida. As a leading-edge IT firm for small and medium-sized businesses, we provide a diverse range of services covering the entire scope of IT including maintenance, support, hosting and more. Through rapid response time, reduction of chaos and the right people, our expert team of IT professionals will fulfill your technology needs. At iVenture, we give you more time to do what matters most.

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