Importance of data backup for SMEs and effects of data loss
The more critical the information, the more money is invested in data backup. This is evidenced by the global sales figures for backup and recovery software. According to the leading market research institute IDC, this software recorded a 2.5% increase to $4.4 billion in the fourth quarter of 2015.
Data backup is not only important for large companies, but also for small and medium-sized enterprises, as data loss can cause high costs. According to market research firm IDC, more than 90% of companies that suffer a complete data loss file for bankruptcy within 12 months.
A study by Arcserve shows that critical data loss continues to be a problem for businesses. In the survey of IT decision makers (ITDMs), 76 percent of respondents reported that they had to recover critical data in their organization after a serious loss. Of those, 45 percent suffered a permanent loss of either some or all of their data. Data is a priceless asset. These findings underscore the importance of building resilience into data availability with a robust data backup and recovery plan that focuses on data integrity to prevent serious business disruptions.
The study also found that many organizations are unable to maintain business continuity when data is lost or compromised. Recovering data quickly is critical for businesses, especially in a business where data must always be available.
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