Disaster Recovery Facts & Statistics for Business Continuity
Is your company prepared for when disaster strikes? Whether you are running a company or the IT department, it's imperative that you are prepared for the worst - and ensure your business-critical data and applications are secure at all times. The term "disaster" often makes us think of hurricanes and tornados - events that are life changing. But in reality, computer viruses, transformer malfunction or building collapse are also "disasters" because any of these events could negatively impact business continuity and your company's bottom line. Check out these alarming stats below to see the impact a disaster can have on a business.
Impact on Business Continuity
- 20% of businesses experience a failure (fire, flood, power outage, natural disaster, etc.) in any given year, and 80% of those businesses will go under in just over a year, according to the Bureau of Labor.
- 60% of companies that lose their data will shut down within 6 months.
- Only 35% of SMBs have a comprehensive disaster recovery plan in place, Gartner estimates.
- US businesses lose over 12 billion per year because of data loss.
- The cost of losing critical applications has been estimated by experts at more than $5,000 per minute.
- Network downtime costs 80% of small and medium-sized businesses at least $20,000 per hour.
- 52% of businesses experience multiple backup failures every year.
- Every week 140,000 hard drives crash in the US.
- 79% of companies surveyed by Axcient have had a major IT failure in the past 2 years.
- Natural Disasters account for only 1% of all data loss while hardware failure, human error, security breaches or viruses account for the majority.
- Hurricanes are the most destructive force causing power failure, flooding, customer loss, and the closure of many businesses.
- According to an analyst firm in IDC, about 70% of all successful attacks on computer networks were carried out by employees and insiders.
- 25% of companies rely on cloud storage as part of their Disaster Recovery Plan.
- 59% of organizations keep backups in only one location, typically a single, physical site.
- 20% of cloud storage users are able to recover from a site disaster in 4 hours or less. Only 9% of non-cloud storage users can say the same.
With more than two decades of experience, the iCorps IT consulting team is dedicated to delivering excellence to our customers by staying ahead of market trends and understanding new technologies that could impact their business. iCorps delivers superior IT outsourcing, IT support and technology solutions implemented by the best consultants in the Boston, Philadelphia and New York (NY) areas.