Disaster Recovery 2019 Statistics – Insights That Shape Your Business Future
Data is a core element of every business. One security breach can cost organizations billions, bad reputation, inactive business hours and most of all, slow business recovery.
Today, we bring to you some of the most alarming statistics on Data breach and the price that entails.
Surprisingly, 75 percent of small businesses have no disaster recovery plan in place. Data breaches and data theft can occur through several factors.
The below breakdown provides a clear insight into the factors causing downtimes and their impact levels:
- Hardware Failures – 45 percent
- Power Outages – 35 percent
- Software Failures – 34 percent
- Data Corruption – 24 percent
- External Security Breaches – 23 percent
- Accident User Error – 20 percent
While hardware failures account for 45 percent of the downtimes globally, we cannot deny the fact that data corruption and external security breaches also significantly contribute to business downtimes.
Listed below are losses based on cost. Let’s take a closer look at how much investment a downtime may compromise::
- A network security-based organization noted that businesses can lose up to USD 55,000 while dealing with a Denial-of-Service Attack (DoS)
- When ransomware strikes, businesses can lose over USD 100,000 (on an average) due to downtime and recovery costs
- 40-60 percent small businesses, at the receiving end of compromised operational systems and data, shut down businesses forever. On the other hand, 96 percent businesses backed by disaster recovery solutions benefit from full recovery
While natural calamity or several of the aforementioned reasons can impact business negatively, human error also paves way for data breaches.
Human errors accounts for 52 percent of the breach incidents.
Moreover, malware is highly capable of bypassing up to 94 percent anti-virus software and anti-spam email filters are also not resilient enough to face a malware attack.
Cryptojacking attacks are increasing by over 8000%.
So, how do you prevent a data breach caused by human error? Cybersecurity training is the need of the hour. Surprisingly, only 52 percent receive this training, globally. This is a crucial measure considering the rise in cybersecurity spending that touched USD 96 billion in 2018.
How to Tackle Disaster?
This requires creating a full-proof Disaster Recovery plan to strengthen your business’ abilities to tackle cyber threats.
Do You Know?
- 93 percent affected companies without a Disaster Recovery plan closed down businesses within one year of the data attack
- 96 percent companies backed by Disaster Recovery were able to tackle ransomware attacks
- Over the last five years, 50 percent of companies experienced downtimes that lasted longer than a complete workday. An unplanned downtime can cost up to USD 926 – 17,244 per minute
Thinking of a DR plan for your business? Get in touch with Veritis!
Engaging a right Disaster Recovery consulting partner can help you minimize lost business hours and save valuable business capital.