Securing Your Future: The Financial Cost of Losing 10 Years of Data
Data is the lifeblood of any business. It’s the sum of your company’s intellectual property, a record of your growth and evolution, and the foundation for your future strategies. But what would happen if you were to lose 10 years worth of this critical asset? The financial implications can be staggering, making data backup a crucial component of any business strategy.
The High Cost of Data Loss
A 2016 report by IBM and Ponemon Institute estimated the average cost of a data breach to be $4 million, a 29% increase since 2013 [1]. This cost includes the immediate response to the breach, ongoing customer support, reputation damage, loss of business, and potential legal actions. While these numbers are alarming, they don’t take into account the loss of a decade’s worth of data.
According to a study by EMC [2], businesses lose a staggering $1.7 trillion per year due to data loss and downtime. This cost not only includes the immediate financial loss but also the opportunity cost of lost business intelligence, strategic planning, and potential innovations that could have been derived from that data.
Risk of Cloud Backup
Many companies rely on cloud backup as their primary data protection strategy. While cloud backup can offer convenience and cost savings, it also presents risks. A 2020 report by McAfee revealed that the average enterprise experiences 31.3 cloud-related security threats per month [3]. Cloud backup risks include data breaches, loss of control over data, vendor lock-in, and potential data loss during transfer.
Immutable Backup: A Secure Solution
One solution to mitigate these risks is immutable backup. Immutable backup, as offered by OpticalBackup, ensures that your data cannot be modified or deleted once it’s written. This type of backup protects your data against ransomware attacks, accidental deletions, and internal tampering, providing a long-term backup solution that keeps your data safe and accessible.
The Value of Offline Backup
Another solution that can supplement your backup strategy is offline backup. By storing a copy of your data offline, you can protect it from online threats such as cyber-attacks, system failures, or even natural disasters that could affect your online storage.
OpticalBackup offers an offline backup solution that not only secures your data offline but also provides long-term data retention. Our solution is designed to retain data for up to 100 years, ensuring that your data is preserved for future use.
Securing Your Data with OpticalBackup
The financial cost of losing 10 years of data can be devastating. But with the right backup strategy, you can protect your business from the consequences of data loss. At OpticalBackup, we offer secure, reliable, and long-term data backup solutions that guard your data against loss and ensure you can recover it when needed.
Whether you’re an IT manager looking to secure your company’s data, a power user seeking a robust backup solution, or a creative professional wanting to protect your digital assets, OpticalBackup has a solution that fits your needs.
Check out the OpticalBackup blog for more insights on data backup and strategies to protect your business. Don’t wait until it’s too late. Secure your data with OpticalBackup today.
References:
[1] https://www.ibm.com/security/data-breach
[2] https://www.emc.com/about/news/press/2014/20141202-01.htm
[3] https://www.mcafee.com/enterprise/en-us/assets/reports/rp-cloud-adoption-risk-report.pdf
