consequences of data loss for businesses

Data loss is a major inconvenience that disrupts the day-to-day operations. At this point, we hit the nail on the head. Imagine, when an employee can’t access their everyday files and applications, they can’t do their jobs. According to the Strategic Resource Institute, companies that can’t resume normal operations within 10 days of a data loss incident will not likely survive. Below are 4 possible consequences of data loss: If your organization loses data, the first thing to suffer is workplace productivity. Today’s blog looks at 4 examples of the seriousness that data loss can cause for a small business. Understanding the risks. Legal Ramifications May Follow Next. So, what exactly is Network Continuity? Data losses can be a total nightmare for businesses of all shapes and sizes. Loss of business. Power outages can interrupt business operations substantially, shutting software … We, at MRW Systems, can show you how it’s done. Negative Effect On Productivity The primary thing that suffers from data loss is the productivity of an organization. Productivity is the first thing to suffer when your organisation loses its data, whether it’s from an unplanned network outage, hardware or software failure, or malicious cyber attack. Data loss exposes a business to all sorts of legal actions, … Once word spreads in your community, you may struggle to find new clients. In order to remain in business, stay competitive, and keep yourself and your company safe... Join our mailing list to receive the latest news from our team. But any IT system downtime can lead to work disruptions. During this webinar, I will expose the truth behind backup & recovery plans. Some organisations spend hundreds of thousands of pounds repairing their brand after a data loss event. Your customers may feel like they can’t trust your business anymore. User error, network outage, cyber-attacks, you-name-it can all cause data loss. On top of that, it can take hours, or sometimes even days to get … Fortunately, your business can prevent data loss risks with planning and professional help. Copyright © 2020 Archive Document Data Storage Ltd. All rights reserved. Productivity disruption. For many, the most fateful consequence of a data breach is the financial loss incurred. Imagine, when an employee can’t access their everyday files and applications, they can’t do their jobs. This field is for validation purposes and should be left unchanged. You could suffer a security breach or attack. If customer data or employee records are compromised, the Information Commissioner’s Office may levy fines of up £500,000 against your company for failing to comply with the Data Protection Act. And once the word spreads, it may be an uphill battle to find new clients. For more information, please contact us by phone or complete the form on this page. In fact, you hadn’t click “save” at any point while working on a document. An outage causes computers to shut down unexpectedly. Depending on the nature of the breach, there are various financial problems that can result. Most companies, business corporations and organisations nowadays are totally dependent on their computer data; and the value of that data is not easy to cost. Significant revenue loss as a result of a security breach is common. Stored Computer Data Lost: Power outages are one of the top reasons data loss occurs. Here are some of the most common causes of business data loss you should know about. You will have customers asking questions about what’s happened. When data is lost from negligence or theft it can lead to exposure of confidential information. In this article we’re going to look at what you can do to avoid data breaches and to protect your business against data loss and its consequences, but first let’s examine what those potential consequences are. At the end of the webinar, you will have concrete steps to take to prevent downtime. Depending on the duration of the power outage, lower employee productivity can have a huge effect on your businesses bottom line. If you lose customers, you will lose revenue. Contact us today for a free quote. Customer loyalty is also tarnished after a data loss event, especially if client data is compromised. There are many negative consequences that occur when a business loses data. Which leads me to my next point: After a data loss event, customer loyalty can drop. So, wondering how data loss can impact your business? Data loss happens for various reasons, and each of them presents a different challenge for data recovery. Permanent business failure is the worst possible outcome. Studies show that 29% of businesses that face a data breach end up losing revenue. Gartner measures the average financial impact of poor data on businesses at $9.7 million per year. DDoS Attack – A Concern for Small Business? This site uses cookies to improve your user experience. No matter if the data gets damaged due to malicious cyber attacks, hardware failure, software failure, or any other reasons, it takes several days and sometimes months for organizations to recover. Data loss knows no boundaries; it happens to all types of businesses and can strike at any time, resulting in a domino effect of disastrous consequences. Archive Document Data Storage (ADDS) provides information management solutions for businesses throughout London, Bristol, Bath, and Swindon. The 5 Ways Data Loss Impacts Your Business 1. And who can blame them? One of the consequences of a data breach is that the business that was attacked will be responsible for performing a forensic investigation in order to determine the causes of the data breach. Below are 4 possible consequences of data loss: Productivity Disruption. News travels fast. From the moment your data is compromised, to the entire investigation and recovery process, the effects of a data breach significantly impact business operations.

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