Consequences of Data Loss – Get Ready to Face the Music

As a data recovery professional, I know how data is important to companies and individuals and the consequences that they are likely to face in the event of a loss.

Data Loss - The Reality

In a recent survey conducted across companies on the value that these companies would associate with a data loss, the following results were published:

• About 90-95% of the companies that lost their data for about 10 days or more due to a catastrophe or a debacle filed for bankruptcy within a year. Of these companies, those that did not have a sound data management system, filed for bankruptcy immediately.


In another survey that questioned companies about the cost incurred by them per hour owing to a downtime, the following results were published:


• About 45-50% of the companies said that it would cost them anywhere up to $50,000.



• About 25-30% of the companies stated that it could cost them anywhere between $51,000 and $250,000.



• About 15-20% of the companies stated that they lose between $251,000 and $1 million.



• Around 5-10% said that they lose more than $1 million.


On asked further as to at what point does data loss threaten the very survival of a business, businesses furnished the following results:


• 35-45% of the companies said 72 hours.



• 20-25% said 48 hours.



• 10-20% said 24 hours.



• 8% said 8 hours.



• 9% stated it as 4 hours.



• 3% stated it as 1 hour.



• 4% stated it as within 1 hour.

Article Source: http://www.myaddirectory.com

James Walsh is a freelance writer and copy editor. For more information on computer crime and Computer Forensics see www.fieldsassociates.co.uk

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