In recent years, the world has been producing huge amounts of data through everything from personal blogs and social media pages to the Big Data now being exported by firms globally. As the boundaries between our real and virtual worlds continue to blur – and companies come to rely more and more on their valuable data for decision-making, understanding markets and making predictions – so the importance of that data has come to the fore.
It’s estimated around 90% of the entire data in existence was produced in the past two years alone. Perhaps more astoundingly, experts suggest we now make approximately 2.5 quintillion bytes of data per day – much of it produced by business.
With the release of 5G connections around the world, and the likely impact of the Internet of Things (IoT), data is nearing the point of becoming the most valuable commodity in the world.
With Data Now So Valuable, Why Take Chances?
Corporations these days have a far greater understanding of their markets, clients, suppliers and possible growth opportunities than at any other point in history. With the advent of Big Data has come Big Knowledge, and firms have increasingly come to rely on this invaluable information to help them predict and determine likely outcomes from the decisions they make. Moreover, using increased automation and employing platforms like Customer Relationship Management (CRM) software, businesses have been able to streamline operations, reduce costs, speed up delivery and increase profits.
Data is an integral part of comprehending the world around us – and, in particular, the business world and opportunities.
Ways To Recover From Data Loss
Without a shadow of a doubt, the easiest way to recover from a data loss incident is by being able to call on a data recovery specialist. Most managed services and IT specialists these days provide options for data recovery. The old saying, “Prevention is better than a cure” stands true for data as much as it does for other areas of life, so choosing the correct network and IT services provider from the outset has become vitally important. You should also ensure your supplier makes regular back-ups of your data – plus has adequate security provisions in place. While no system is 100% safe, employing sufficient protection will still help minimize risk.
The Cost Of Cybercrime
It’s estimated cybercrime cost the world around $6 trillion in 2021 – with that figure predicted to increase to $10.5 trillion annually by 2025. Perhaps more worrying is the fact that online criminals are no longer just attacking the larger corporations they feel have the biggest revenue. Instead, Small to Medium-sized Enterprises (SMEs) are now becoming the target of choice for everything from ransomware attacks to phishing and malware. Sadly, in these data-rich times, no company (or even individual) is completely safe from harm with unscrupulous cybercriminals attacking everything from personal blogs to high-end corporate sites.
Causes Of Data Loss – And Why You Need Data Recovery Options In Place
In general, there are three primary causes of data loss for companies – though all can result in huge problems, no matter the reason:
Accidental loss: Power outages, environmental disasters and other IT-related problems can cause accidental data loss.
Hackers and cybercrime: Cybercrime is a growing problem globally. Indeed, the revenue generated by online crime now makes it, by comparison, the world’s third-largest ‘economy’ behind the US and China.
Employee error or malicious intent: Often data loss can occur through employee error (i.e. accidentally deleting files) or even through malicious intent – perhaps by leaking files or allowing unwarranted access to important databases, etc.
Ensuring you have a robust disaster recovery plan will help mitigate the issues listed above and will help your company continue to operate with minimal disruption.