The Value of Digital Life

The Value of Digital Life

2012-05-16T21:53:11+00:0016 May 2012|

Two facts of life underline the need for professional data recovery services: The importance of protecting your data and the impact of potential data loss.

Today, we live in a world driven by data. From businesses to personal behaviors, everything is influenced by data and how it is used. As for the quantum of data being generated nowadays, here’s what IBM has to say: “Every day, we create 2.5 quintillion bytes of data – so much that 90% of the data in the world today has been created in the last two years alone.”

Data is a main sources for a business’ competitive advantage. The business with the most customers is usually the one that has the most info on their industry’s customers. Having a more extensive library of information on potential and current customers than your competitors lets you optimize your business to customers’ needs a recognize emerging customer trends better than anyone else, positioning you better the acquire and/or retain them. Information is the lifeblood of a company – so what happens when you don’t have a hard drive recovery plan in place?

The impact of potential data loss is catastrophic. A study conducted in 2008 by the Ponemon Institute among 43 American companies across 17 industries found that data losses ranged from 4,200 records to 113,000 records, Each data record lost cost an average of $202, resulting in total losses between $848,400 and $22,826,000.

While all data loss is bad, the news is even worse for those without a data recovery plan in place. According to the University of Texas, 94% of companies suffering from a catastrophic data loss do not survive – 43% never reopen and 51% close within two years. Home Office Computing Magazine found that 30% of all businesses that have a major fire go out of business within a year and 70% fail within five years. Gartner, one of the most respected names in IT research, reported that 25% of all PC users suffer from data loss each year.

With this in mind, firms should invest in professional data recovery solutions before it’s too late.