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.

Here's What Your Business Needs to Know About Disaster Recovery:

Quantifying 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. 

Global Cost of Downtime

Cybercrime is predicted to cost $6 trillion per year, worldwide, by 2021. New threats are proliferating, such as crypto-jacking 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:

1. Disaster recovery
2. Retention and reporting
3. Data backup and restoration
4. High availability and shared storage
5. Infrastructure design and architecture

If you're looking to outfit your business with affordable, enterprise protection, contact an iCorps expert today.