Businesses are still facing a data loss crisis – How to prevent it?
- 29% of the organizations surveyed were unable to restore data for one day or more
- Risk to businesses due to outdated, untested, and poorly documented disaster recovery plans
Data breaches and other risks are more likely to occur today because everyone rotates between working from home and in the office. Large organizations have more data to steal from, while smaller companies have less secure networks, making them an obvious target for cybercriminals and giving them a higher chance of data loss. In order to prevent data loss, is to increase cyber awareness.
According to Business Standard, in today’s threat landscape, more than six firms in the Asia-Pacific (APAC) region have acknowledged at least one data breach in the past 12 months. And that it takes organizations in the APAC region, on average, 44 days to discover and stop an attack, including 11 days for recovery.
The loss of critical data for organizations still affects their operations and is an issue. Arcserve, the seasoned provider of backup, recovery, and immutable storage solutions for unified data resilience against ransomware and calamities recently released key findings from their annual independent global research.
76% of respondents in a study of attitudes and experiences of IT decision makers (ITDMs) indicated a severe loss of critical data in their company. Of those, 45% had irreversible data loss. Data is a priceless resource, and these findings highlight the significance of developing data resilience with a strong data backup and recovery plan with data integrity at the center to avoid serious business disruptions.
The research study also discovered that many firms struggled to keep up business continuity after losing or compromising data. Fast data recovery is essential for businesses, especially in the always-on society of today.
- 83% of respondents said that critical systems can be out for no more than 12 hours before there is a discernible impact to the firm. However, only 52% of people could bounce back from a serious data loss in 12 hours or less.
- For one day or more, 29% of the organizations surveyed were unable to restore data.
Ways to prevent data loss
The research’s findings also showed that disaster recovery requires a new strategy. To increase data resilience, organizations should regularly test, update, and record their disaster recovery plan. Additionally, all organizational levels should be made aware of the significance of data protection and recovery, with clear objectives.
- 95% of respondents said that their company has a disaster recovery strategy. Only 24%, however, have a developed plan that has been thoroughly tested, updated, and recorded.
- According to 83% of respondents, their organizations’ strategies address data resilience. However, only 23% have a mature strategy with corresponding goals to monitor development.
Corporate data loss has consequences that go beyond inconvenience. Businesses must start considering measures to prevent data loss because the implications are severe, and the problem itself must be prevented. These consist of:
- Prioritize data protection: When storing data, think about using a system that can guard against human errors whether the data is on-site, off-site, or in the cloud.
- Embrace multifactor authentication (MFA): With MFA, hackers are constantly faced with a significant obstacle because a stolen password is not sufficient to gain access.
- Always test data recovery plans: To verify that recovery is genuinely possible in the event of data loss, backups must be frequently tested. Complete and quick data recovery is just as important for business continuity.
The annual survey, according to David Lenz, Vice President, Asia Pacific at Arcserve, emphasizes the need for businesses to have a data resilience strategy that includes effective data backup and disaster recovery procedures.
“We live in a world of growing ransomware attacks and frequent natural disasters. Any downtime from data loss can be destructive for a business from impacting sales to losing customer loyalty,” added Lenz.
As such, businesses need to be able to avoid costly business disasters and reputational damage from data loss, This includes having good unified data resilience solutions.
- IBM and NASA are collaborating to study the impact of climate change using AI
- Slump in the PC and smartphone market drags Samsung to its lowest quarterly profit in 8 years
- Is data privacy just a pipedream in Malaysia?
- FIS enables real-time payments for Singapore’s Trust Bank
- As the US and the EU sign agreement for responsible use of AI, will APAC be part of it?