Never lost any data? Lucky you! In this digital age, that’s quite a track record. Because data is such a precious asset, you should know how important it is to protect your data and be proactive about preventing any losses.
It’s a sad truth that software and hardware can glitch and break down. Not only that, there are always bad actors working on the latest rounds of malware and ransomware. And we never want to forget that people are, well, people. No one is perfect, and sometimes, user errors can cause data loss. And data loss is costly! A study by computing giant IBM showed that downtime and data loss could cost small businesses an estimated $3,533 per employee to recover from.
That’s why prevention and planning are so crucial for your business’s data. The IT support you choose can make all the difference in ensuring your protection. Let’s take a look at all the ways things can go wrong and what you can do to keep things right.
Technical failures significantly contribute to data loss, including software and hardware failures. You’d be hard-pressed to find anyone who’s ever done work on a computer to say they’ve never lost a file or been frozen out of a wonky hard drive. These things happen. A 2018 study reported that 35% of all SMB data losses can be attributed to hardware failure, which is caused by any number of things, including physical damage, overheating, or the age of the hardware. Software failure can occur due to external forces, like a power surge stealing your file before you can save it, or an internal hiccup, like buggy code or a virus.
The key to protecting your data from technical failures is a back-up system and recovery plan. We always recommend the 3-2-1 backup rule. Whether you save your data in a second physical location, like a flash drive for small amounts or an extra server for large amounts of data, or choose a cloud storage solution, backing up is crucial for preventing data loss. Working with a partner, like an MSP, can help you select the best back-up storage solution for your business.
With a reported 4,000 daily instances of ransomware and malware attacks since the beginning of the COVID-19 health crisis, it’s become a matter of when, not IF, your business will fall prey. The average requested ransom from an attack is over $800,000, which is not pocket change. In fact, the US National Cybersecurity Alliance reports that approximately 60% of small businesses go under within six months of a ransomware attack. Those are staggering costs, which don’t even include recovery and legal expenses, and SMBs can end up paying the ultimate price.
No one wants to be in that position. It’s vital to have a prevention and protection plan in place BEFORE ransomware or malware shuts you down, temporarily or permanently. Your MSP can assist you with training, protocols, and proactive strategies to help you avoid and/or recover quickly from a cyberattack. The best way to protect your data from an attack is to safeguard it with the latest tools and have an action plan at the ready in case an attacker finds a way to breach your protection.
Whenever you put your trust in a third-party service to store your data or help you perform your daily functions, you run the risk that they could become a victim of a cyberattack or technical failure, thereby making you a victim as well. Many might tell you that’s the cost of doing business, but it doesn’t have to be. You can take steps to protect yourself.
One of the biggest issues with catching a data breach while using cloud storage or SaaS is that you trust that the service will protect you. Because of that trust, it may take you longer to identify a breach than if your data was stored in-house. Out of sight, out of mind, right? That’s not the best attitude, according to CrowdStrike, who reports that global attacks targeting cloud storage are on the rise. Your MSP can help you set up the proper monitoring to ensure the safety of your data once it leaves your hands.
From dropping and damaging a laptop to clicking on a phishing email, humans can be their own worst enemies when it comes to securing your data. A recent report of phishing statistics shows some startling numbers, including that one of every 99 emails is a phishing email, and 90% of cyberattacks start with phishing. It cannot be overstated the role of human error in these instances; it’s so tempting to click before you think!
Training and protection are critical elements to preventing human error from causing data loss. You have to teach your employees what to look for and what not to click on. You also have to impress the importance of properly backing up their work. An MSP can help you set up initial and ongoing training and protocol practice for you and your employees to ensure the security of your data. As for people who drop devices, you may just need to ask them to be more careful (and consider extended warranty plans).
Now that you have an overview of everything that can go wrong, let’s help you make sure things go right. There’s no need to risk your business’s data assets when there are IT professionals who can help you create a solid and future-ready data back-up and recovery plan. We’re here to listen and assist with all your data security questions, so get in touch today.