Are You Sure Your Data is Backed Up?
If you aren’t positive that your backup and disaster recovery processes are sufficient and implementable in the event of a data breach, then the 2020 Cost of Data Breach Study by the Ponemon Institute should be sobering. Often the reason for not taking steps to ensure that data backup and recovery procedures are sufficient and tested is an attitude that “this won’t happen to us.” The reality is that it can happen to you.
Here are six common ways your valuable data can be breached, stolen or ransomed. By understanding these risks, you begin to see the importance of backing up data no matter how big your company is.
The Ponemon Institute’s Report asserts that most data breaches (53%) result from financially motivated malicious or criminal attacks. Small and medium-sized businesses are rich targets for cybercriminals because cyberattacks have become easier to initiate, and companies are lagging in their security sophistication. Regularly backing up data will help you to better respond and recover from various types of cybercrime and save you the $3.29 million price tag of the average breach.
2. Insider Threats
Included in the 53% of data breaches caused by malicious attacks is the intentional encryption, deletion, theft or corruption of sensitive information by employees. Data vandalism can be a real threat, especially if access to information in your organization is not highly controlled and if a disgruntled employee knows what to do to cripple your business. Knowing how to back up data may not prevent all attempts at sabotage, but it will ensure that you can mitigate damage by recovering and restoring your data.
3. Hardware Failure
If you refresh your hard drives, servers, desktops and other devices regularly, you will certainly decrease your risk of experiencing a hardware failure. Unfortunately, the unexplainable does sometimes happen. When you include data backup as part of that regular cycle, you can be confident that your entire database is accessible and you can replicate it should something suddenly stop working.
4. Corrupt Files and Software Failure
Software occasionally fails. Files and data can become corrupted and deleted without warning. The Ponemon Report indicates that many data breaches (incidents in which information is put at risk) are due to system glitches that can be either software or hardware related. Whatever the cause, sufficient backup and recovery processes can determine whether you are open or closed for business.
5. Human Error
According to the Ponemon report, human error is another notable factor in data breaches. The reality is: people make mistakes. Employees accidentally click malicious links, drop computers, misplace mobile devices or delete things we intended to save. When your data is backed up, you ensure these mistakes don’t become serious and costly problems.
6. Natural Disasters and Extreme Weather
Though not included in the Ponemon report, it’s important to mention how backup addresses the risks to your data due to natural causes. Another recent report asserted that when small businesses close due to the effects of a major storm, they lose an average of $3,000 per day. With the regularity of these events in specific locations and resulting power outages, you want to be sure you’re backing up your data.
Be Sure Your Data is Backed Up with Thriveon
The number one finding of the Poneman report was that companies that detected data breaches sooner and had automated responses, recovered faster and lost less money. Is your company prepared?
A good response is a proactive response. With our Data Backup and Recovery Checklist, you can be ready for the unexpected with a proven backup and disaster recovery process so that a data disaster won’t become a business disaster.
Want to protect your bottom line and your data? Watch our cybersecurity webinar to learn how to better protect your business from falling victim to a cyber attack. To get around-the-clock IT support that manages all of your cybersecurity needs, talk with a Thriveon expert today.