Disaster Recovery Facts 2019: Statistics for Businesses
Most companies have an unpleasant familiarity with the disasters that impact their business. There are the obvious candidates—major storms that inflict on-premise damage. Then there are the more pernicious threats—malicious external actors or accidental user error. Regardless of how your business conceives of these threats, the cruel fact remains: 93% of companies without a data recovery plan face closure within a year of a major disaster.
According to phoenixNAP, over the past five years, half of all businesses have weathered a downtime event longer than a full working day. The most common causes are:
45% - hardware failure
35% - loss of power
34% - software failure
23% - external security breaches
20% - accidental user error
As stated by DataCore, for the businesses that experienced a downtime event, only half were confident they could restore 100% of their data. Smaller and medium sized businesses face greater fallout from these disasters, often because they have fewer IT staff, and a smaller portion of funding allocated towards technology resources. Reports have also found that 75% of small businesses do not have a disaster recovery plan in place, creating a huge liability for an already overtaxed budget. Given the tremendous cost associated with data recovery, roughly $100,000 per incident, SMBs face a more arduous recovery process.
How much would disaster recovery cost your business? Find out with our Recovery Time Calculator.
Cybercrime is predicted to cost $6 trillion per year, worldwide, by 2021. New threats are proliferating, such as cryptojacking attacks which have increased 8,000% over the past year. Direct denial of service attacks continue to barrage businesses, with an average cost of $50,000. And malware remains in a league of its own:
- 1 in 3 businesses reported a virus or malware attack in the last five years
- 58% of business breaches in the last 12 months have been due to viruses and malware
- Only 2% of businesses were able to recover from their latest security event within an hour
Fortunately, the majority of these problems are avoidable through strategic planning. 96% of companies with thorough disaster recovery and data backup plans were able to avoid the fallout from ransomware attacks. By leveraging a resource such as iCorps Guardian, your company will have the benefit of:
- Disaster recovery
- Retention and reporting
- Data backup and restoration
- High availability and shared storage
- Infrastructure design and architecture
If you're looking to outfit your business with affordable, enterprise protection, contact an iCorps expert today.