Business data carries immense value. Throughout history, information has given leverage to its beholder. There is a lot of truth in this sentiment and the true value of data can be seen through businesses that proactively protect their information resources from hackers and natural disasters. The numbers also support this; if not for its value, why else would 62% of business leaders express greater concerns over strengthening their existing data protection measures?
But data backup isn’t only essential for the successful running of your company’s operations. It’s requisite for mitigating the financial consequences of data corruption and loss. Data backup and protection is a boon for the company’s reputation as 48% of consumers shun companies that they feel aren’t doing enough to safeguard their privacy.
This article explores all you need to get started with business data backups; from backup strategies to cloud solutions as clear-cut alternatives to on-site and off-site backups.
Key Takeaways
- The data backup process is a holistic process for safeguarding vital information resources. This routine practice generates copies of original data for future use in the recovery of lost data.
- Regularly updated backups help business managers fend off a host of issues, including untimely system failures, virus attacks, human error, power blackouts, and natural disasters.
- Despite the profound benefits of an established data backup strategy, 30% of companies still lose data in server outages, while another 37% of SMBs lose data stored in the cloud.
Why is Data Backup So Important?
The physical security measures at your premises are no longer enough to protect your most valuable information resources. And with the advent of the remote working culture, securing precious trade secrets, and other sensitive information has become of the essence. To understand the stakes, let’s think for a moment about what organizations without a data backup strategy risk losing:
- If an organization lacks a robust data backup and recovery strategy in place, it risks potential financial losses from the absence of operational data when it’s needed. Revenue-generating operations stall as time and personnel resources are spent on tracing the lost data.
- A potential violation of legal and statutory requirements may ensue in organizations that operate in regulated spaces such as finance, defense, and healthcare.
- Lawsuits from the affected clients of a botched backup and disaster recovery effort may tarnish the company’s reputation and lead to a loss in market share.
The immediate costs of a failure or non-existent data backup strategy can be overwhelming. But the long-term effects can be even more devastating.
At its core, data backup and recovery is all about ensuring that in the event of a total loss or corruption of critical system and application data, there are copies to recover the lost information. Data losses occur primarily due to accidental deletion (human error), corruption by malware or viruses from cyber attacks, and hardware and software failure.
Regardless, it is important to ensure data backup is carried out often to prevent unforeseen losses.
Developing an Effective Data Backup Strategy for Your Business
Data backups are a core component of your business continuity and disaster recovery planning effort. Most businesses adhere to existing data management backup policies. Where none has been developed, pair the following factors to whip up a working data backup policy:
1. Backup Method and Location
Four primary types of backups – full, mirror, incremental, and differential backups – enable information officers to store sensitive information on remote, cloud, or on-site locations. Unsurprisingly, each storage imposes varying costs for its acquisition and unique security questions that must be addressed before its deployment.
Whether you choose cloud storage, tape drives, hard drives, or a combination of all, these storage facilities should be cost-efficient, reasonably secure for the type of information held inside them, and scalable as your business grows.
2. Cost of the Backup Solution
Cost directly ties to your business size, number of endpoint devices, scope operations, and of course, your choice of backup solution. Small companies that gather and store less data do not necessarily need large backups. As such, their spending on data storage equipment is not as high. On the other hand, larger multinational corporations have larger data backup needs and hence spend bigger budgets on data backups.
Much of their information is stored in the cloud, which promises greater security as cloud servers are updated regularly and away from the premises. Often, the acquisition of cloud solutions negates the need for upfront hardware purchases. However, the would-be savings could end up paying for monthly subscriptions to the cloud storage services.
3. Accessibility and Reliability
The whole essence of building a data backup strategy is to ensure the continuous availability of vital information. Although on-site backups are easy to access, cloud-stored data is even easier to retrieve. Employees and customers around the world can access the information with an internet connection.
Off-site backups are also less prone to local disasters. Where sensitive data has been mentioned, information officers are advised to deploy both on-site and off-site data.
Don’t forget to weigh the security of your chosen backup method. On-site backups are prone to damage by natural disasters such as fire and floods. Off-site backups on the other dissipate the risks of natural disasters but are prone to unauthorized access in successful hacks.
Data Recovery as Part of Your Data Management Plan
The first step in data recovery is to assess the extent of the loss and take an inventory of the affected operations – these are your mission-critical activities. The next step would call for an immediate intervention and may involve restoring data from stored copies through specialized data recovery software, or through the help of a professional data recovery specialist.
Here’s a simulation of how a lost data recovery situation may pan out:
| Cause of data loss | Impact on the organization | Recommended actions |
| Accidental deletion of files | Multiple user errors, delays of services, and unavailability of critical systems across the organization. | Use data recovery software to restore an image backup. Call in a professional data recovery specialist if no backups are available. |
| Abrupt hardware failure | Stalled operations, delayed production, high costs of maintenance and repair. | Initiate system diagnosis and repairs to restore normal activity. Seek the services of a data recovery specialist to extract data from the damaged equipment. |
| Software corruption | Application errors, poor data quality, and substandard products and services. | Update existing backup and reinstall applications. Use data recovery software to restore lost data. |
| Natural disasters | Extensive hardware and equipment damage. Prolonged service unavailability. | Leverage off-site backups or cloud storage to get critical operations running. |
| Virus or malware attacks | High litigation fees, reputational damage, ransom payments. | Use data recovery software to restore stolen data. Tighten the security around your existing backups. |
Keeping Up With Data Backup Trends
Recent technological breakthroughs have resulted in new data backup and recovery solutions that promise greater scalability, security, and reliability.
Cloud-Based Backups Have Become an Industry Standard
While cloud storage is nothing new, its popularity has certainly grown thanks to its scalability, flexibility, and cost-effectiveness. Organizations are increasingly leaning toward cloud platforms for improved disaster recovery capabilities. Some companies are exploring multi-cloud backup.
Here, essential copies of vital data are stored on different cloud storage providers, thereby minimizing risks.
AI-Enabled Backup Solutions
Artificial Intelligence (AI) is revolutionizing data management by beefing up the security of data backups through proactive monitoring and threat detection. AI algorithms can take it a step further and help organizations select crucial data for backup while leaving out less important data.
Ransomware Protection
With the increase in ransomware attacks, backup solutions now focus on providing robust protection against such threats. Advanced backup systems incorporate features like immutable backups that are impossible to alter, air-gapped storage, and early detection mechanisms that help mitigate the impact of ransomware attacks.
Conclusion
Unfortunately, every company’s data is prone to the dangers posed by cyberattacks, human errors, as well as natural disasters. This further reinforces the importance of data backup and recovery as an essential component of the overall company strategy.
Need help setting up data backup and recovery solutions for your business? Schedule a free consultation with one of the best cybersecurity companies in Boston for a deeper discussion!
Frequently Asked Questions
What are the potential risks and consequences of not having an effective data backup and recovery strategy in place?
The lack of a proper and effective data backup and recovery strategy in place can expose your company to potential risks of financial losses, data loss, reputation damage, legal and regulatory consequences, and disruption of day-to-day operations.
How can I determine the appropriate frequency for backing up my data?
To determine the appropriate frequency for backing up your data, factors such as the amount of data generated, the value of the data, and the potential impact of data loss should be considered. Regular assessments and consultations with IT professionals can help determine the optimal backup frequency.
What are the key factors to consider when deciding between on-site and off-site backups?
When deciding between on-site and off-site backups, key factors to consider include data security, cost, accessibility, and disaster recovery capabilities. Each solution has its own advantages and disadvantages that should be carefully evaluated to meet the organization’s specific needs.
Are there any specific security measures to be taken into account when utilizing cloud storage solutions for data backup?
When switching to cloud storage solutions for data backup, it is crucial to consider the encryption standards, user access controls, data redundancy, and compliance with industry standards such as ISO 27001 or SOC 2.
How can I ensure the integrity and reliability of my backups, especially in the event of a data recovery scenario?
To ensure the integrity and reliability of backups during data recovery scenarios, regularly test the backups and maintain a comprehensive backup strategy.
