Infographic: Cost of Loss and Move to the Cloud

Backups are becoming an ever increasing business essential as data production continues to grown rapidly.  As data continues to expand and multiply, there is a significant likelihood that managing backups will be one of IT’s greatest challenges in the coming years.  With data loss and privacy breaches here in the present and more just on the horizon, many IT companies and experts are looking towards third parties to manage the data their company produces daily.  When enterprises reflect on the damage that data loss can produce, it becomes imperative to have a backup system in place to protect the company, the customer and the employee.  An infographic created to educate enterprises by cloud-computing company, SingleHop outlines the basic losses that can occur during a downtime.

When Backups Fail

The migration to cloud computing is becoming increasingly prevalent with small and large companies alike as the ever-increasing data load shows no sign of stopping.  64% of IT leaders already have cloud storage.  Through redundancy, this storage protects data from failures than more traditional backup methods.  Cloud storage has the ability to not only protect a company and its website from operational failure but also devastating natural disasters and human errors.

The Cost of Downtime

One instance of downtime and data loss can cost a company thousands of dollars. On average, per hour, $70,900 of mission critical data is lost.  So data that is needed on an everyday basis,  including sensitive information such as customers billing statements – is not available or possibly not retrievable.  Multiply that out by the number of hours included in a single downtime and the numbers become staggering.  This monetary number does not take into account the possibly desolating effect downtimes can have on customers and employees.  The loss of data and downtime in production can decrease employee productivity and morale, and also lead to failure to seize business opportunities and a decline in customer confidence.

The Future

With system failure and the increase of targeted attacks, the search to create tougher protection will continue and magnify in the coming years.  78% of IT experts plan to change their protection within the next two years as ever-increased security measures come into the marketplace.  Most experts would agree that cloud computing and virtual servers will the way of the future because these options secure redundant protection of company data from all of the threats out there.
Cloud backup Infographic