How Important It Is to Have a Backup of Your Business

How Important It Is to Have a Backup of Your Business

36,000,000,000 (billion) – that is the number of sensitive data records that were accessed as a result of security breaches in the first half of 2020.

According to an IBM study, in 2020 the average loss from a successful hacker attack reached $3.68 million. And despite these alarming statistics, only 5% of companies today claim their information is well protected.

In 2021, cybercrime has become part of our daily lives and every business has a responsibility to its clients to provide the best protection for their sensitive data. Despite the numerous statistics on successful cyber-attacks, a large portion of companies still do not dedicate enough resources and attention to protecting their businesses and their users' information.

We will look at several important topics such as:
    • What is a backup?
    • Why is it important to have a backup?
    • What should you back up?
    • How long does it take to recover lost information?

What is a Backup?
A backup is a copy of important business information stored in a secure place with restricted access. Having a backup allows you to quickly recover lost data in case of hardware failure, malicious attacks, or human error.

Fun fact: 95% of security breaches in a company are due to human error!
When it comes to backup solutions, the most popular places to store backup copies are:
    • USB Flash Drive. Easy to lose and prone to viruses, subject to errors.
    • External Hard Drive. A temporary solution, lacking the necessary level of security.
    • Cloud service. An excellent option that can guarantee a reliable copy of your data.

Why is it important to have a backup?

Simply put – so your business can continue to operate in case of unexpected events. Despite the increasing cyber-attacks and the damage they cause, a high percentage of companies still do not give enough attention to cyber security.

Even if we exclude for a moment the possibility of a targeted cyber-attack against your business, don't forget that there are other factors that can cause you to lose important business files. As we have already mentioned, human error is one of the main reasons for the loss of sensitive information. We should also not exclude the possibility of burglary, natural disasters—floods, fires, earthquakes.

In case of such events, it is important to be able to rely on a backup to restore your business, office software, website, or online store and carry on as usual.

What should you back up?
When it comes to business, whether online or not, you must have a backup of key data:
    • Work files, financial and other internal information
    • Business email correspondence
    • Content, catalogs, and images
    • Databases with products, services, prices, and suppliers
    • Databases with clients, orders, and shared personal data

It is extremely important to have a backup copy of your site or online store, so you are sure it can function at any time. As you already know, there are different ways to store copies, and you can also ask your hosting provider if they offer a backup service.

At AbsCloud, we value the security of our clients highly and therefore offer daily full backups, which are performed automatically. This way, our clients can have peace of mind about their files, as they can restore them at any time.

How long does it take to recover lost information?
If you decide to rely on your hosting company for storing and performing regular backups, it's good to know how long recovery might take if needed.

Sometimes, you may gain access to your backup within a few minutes and restore your operations promptly. However, with some providers, the recovery time can take up to 2 days. Imagine the impact on your business if it is non-operational for 2 days!

The consequences of a missing website or temporary suspension of operations often go beyond financial losses. Numerous studies show that, in addition to a drop in revenue, businesses also suffer reputation and customer trust loss. So if you wait for your site to be restored from a backup, even for 2 days, it can negatively affect your business in the long run.

Conclusion
Do not underestimate the security of your business data. Regardless of your company's size, you need to be protected at all times. Cyber-attacks are by far not the only threat you should defend against. Hardware failures, human errors, and natural disasters are potential events that could cause you to halt operations.
You can follow the 3-2-1 rule when it comes to backing up important information:
    • Keep at least 3 backup copies of important business data, so that a single event cannot erase all your backups.
    • Store copies in at least 2 places – external drive, on the cloud, with a hosting provider.
    • Have at least 1 digital copy in the cloud that is protected from natural disasters.

Contact the experts at AbsCloud, who will help you with a secure backup for your business. Contact Us