It's no secret that most of today's businesses store massive amounts of data. Companies rely on information from customer data to financial data to run their operations. Unfortunately, when data is lost or corrupted, it is often disastrous for a business. That's why it's crucial to have a data backup and recovery plan.
This blog post will discuss the consequences of data loss, the benefits of data backup and recovery, the importance of a backup and recovery plan and provide you with useful advice on what to look for in backup and recovery systems.
The Consequences of Data Breaches and Loss
We have written about the high cost of a data breach in previous posts. However, what isn't immediately apparent for most businesses, especially in the healthcare industry, is the long-tail costs of a data breach and loss.
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These hidden costs can stretch for several years and be quite significant. They include:
- Costs of lost data, for example, hiring a data recovery firm.
- Business disruption from system downtime
- Breach notification costs. For example, under HIPAA rules, affected organizations must notify affected individuals of a breach within a stipulated time. This requirement led the American Medical Collection Agency(AMCA) to seek chapter 11 protection (bankruptcy) after spending $3.8 million to notify 7 million individuals of the breach. It took a negotiated settlement to avoid bankruptcy.
- Reputational damage
- Lost business
Most organizations are unprepared and fail to cater to these expenses when preparing budgets.
The Benefits of Data Backup and Recovery
There are seven clear advantages of data backup and recovery:
- Data Security: This is one of the most essential data backup and recovery elements. Potential risks to a firm's information rise as IT systems grow and integrate. When it comes to safeguarding and preserving data, maintaining a backup and recovery system with good security is most important. Secondary data should be stored in a secure environment using 256-bit AES encryption at rest and in motion.
- Accurate Data Replication: A data backup and recovery system can provide an organization with an accurate replica of data. This is critical not only for data that changes frequently but also for data that doesn't change often. The data replication process must be well understood to ensure that the data being replicated is consistent across all systems.
- Easier Data Management: With data backup and recovery in place, you can easily manage data. This is because data is centrally located and accessible by authorized personnel with the proper permissions.
- Regulatory Compliance: In many industries, data backup and recovery is a regulatory requirement. For example, the HIPAA Privacy Rule requires covered entities to have a data backup plan in place.
- Cost Control: Data backup and recovery can help organizations save money in the long run. Businesses can avoid the high costs associated with data loss by having a data backup and recovery system in place. It also helps reduce workforce overhead when staff doesn't need to perform manual backups.
- Zero Performance Impact: There is zero performance impact on the primary data source with data backup and recovery systems. This is because data is only replicated when it changes. Therefore, less disruption means more uptime.
Build Customer Trust: In today's business environment, data privacy and security are top concerns for consumers. Some of the top concerns include identity theft and the risk of exposure of medical history and conditions. Businesses can build trust with their customers by having a data backup and recovery system in place.
What is a Data Backup and Recovery Plan?
Data backup and recovery begins with a concrete plan. Organizations should design this plan to meet the specific needs of the organization. For example, it should consider data type, data size, data location, data frequency and other factors.
What to Look for In Backup and Recovery Systems
When selecting a data backup and recovery system, there are several key characteristics to look for:
- Efficiency and Control: A data backup and recovery solution should be efficient and easy to use. It should allow administrators to set up data backups quickly and easily. The system should also provide granular control over what data is backed up and how often.
- Encryption Functionality: A data backup and recovery system should have the ability to encrypt data at rest and in motion. This is critical for data security.
- Data Lifecycle Management: It should also have the ability to manage the data lifecycle. This includes data retention, data expiration, data archiving and data destruction.
- Recovery Orchestration: Furthermore, it should have the ability to orchestrate recoveries. This includes recovering data to its original location or a new location.
- Recovery Time Objective: A data backup and recovery solution should have the ability to meet the desired Recovery Time Objective (RTO). This is the time it takes to recover data from a backup.
- Security and Visibility: Finally, a data backup and recovery system should provide security and visibility into data backups. This includes monitoring data backups, setting up alerts and generating reports.
Data backup and recovery is a critical part of any business. By understanding the advantages of data backup and recovery, companies can make informed decisions about which data backup and recovery system is right for them.
Central Data Storage is a HIPAA compliant tried and tested data recovery and backup solution with all the above characteristics. For more information on protecting your company and business-critical data, sign-up for a free trial.