Most people know they should regularly backup their data. However, they often completely ignore this advice or, sometimes establish a data backup process without first verifying that the process works.
As our reliance on computers (and data) continues to increase, events such as an equipment failure, malware, a virus, ransomware, a user error or a disaster can result in significant data loss. The impact of a such a data loss could be devastating.
How long could your business remain profitable after a permanent loss of data?According to a recent BBB survey of small businesses, only 35% of companies could remain profitable for more than three months following a data loss --and more than half would be unprofitable in less than a month.
There are two main backup categories: Onsite and Remote. Each contains multiple backup options. Within the main categories, the types of data backups are: full, incremental and differential. They are defined as:
- Full Backup – A complete copy of all available data.
- Incremental Backup – A copy of only the data that has changed since the last backup of any type.
- Differential Backup – A copy of only the data that has changed since the last full backup.
Properly leveraging these backup strategies and solutions is critical to reducing exposure to potential data loss and disrupted operations. Additionally, periodic test your backups should be run to ensure that they are working properly and backing up data in its entirety.
Action Items:
- Research and choose the data backup category and type that you plan to use.
- Establish a data backup schedule (Backup Regularly).
- Periodically test your backup (Perform a Test Restore).
HBK Risk Advisory Services can assist you with your data backup or Cybersecurity questions and needs. Please contact Bill Heaven at BHeaven@hbkcpa.com
