Disasters happen in all kinds of ways, and every disaster can have a catastrophic impact on a business if they are not prepared. Natural disasters like tornadoes, hurricanes and fires can destroy critical data and files. But not all disasters come from mother nature; accidental deletion and human error can also occur, on top of various cyberattacks like ransomware, phishing, malvertising and more. According to a report from Business Insider, 1 in 4 Small or Mid-size businesses won’t recover from a disaster, and according to the National Oceanic and Atmospheric Administration (NOAA), there were 14 natural disasters in the U.S. in 2018 and 2019 that resulted in losses exceeding $1 billion. Disasters can affect a business in many ways, from flooding to cyberattacks on servers, and much more. Below are five different types of disasters facing businesses today, and how to protect your data from them.
Choosing the right data center location to house your virtual infrastructure and data can be crucial to avoiding the debilitating costs of unplanned downtime. To the same token, choosing the wrong data center location may lead to serious issues. Here are four things to keep in mind as you evaluate a cloud service provider’s data centers and where they are located.
Cloud DR (disaster recovery), also known as DRaaS (Disaster Recovery as a Service) puts a twist on traditional DR practices so that organizations can achieve greater cost savings while also achieving more security and reliability in the wake of disaster. Traditional site-to-site data replication has inherent expenses that cloud DR solutions bypass, including the upfront costs of building out a geographically redundant data repository some 500 miles away.
An unexpected natural disaster can set back or even shut down your business if not anticipated in advance and precautionary measures instituted. If your business is in tornado alley (North Dakota to Texas, but even as far east as Ohio and Georgia!) it's susceptible to very high winds and flying debris which may result in serious damage to the buildings and other infrastructure during a tornado. It is important to get your business up and running as soon as possible after a tornado. The longer it takes for your business to resume operations, the more likely it is to ultimately fail. According to the Institute of Business and Home Safety, about 25 percent of businesses do not reopen after a natural disaster.
A disaster recovery strategy is necessary for ensuring the integrity and availability of a company's data in the event of a disaster. A delay in data recovery after a disaster can lead to severe financial losses for the affected company; studies indicate that companies can lose anywhere from $100,000 to $1 million per hour following a data outage. With potential losses this high, it's essential that a company has a solid disaster recovery plan in place to restore data and minimize downtime after a disaster.
The increased prevalence and affordability of cloud computing has resulted in its utilization by companies in developing innovative solutions to risks they constantly face. One such risk is the disruption of business operations following a natural disaster. Companies with an onsite IT infrastructure often experience a delay in data recovery and restoration following a natural disaster.
Downtime for any business means losses in revenue, valuable time, and resources. This can leave your business vulnerable and stagnant. Routine, expected downtime can be planned for, but unplanned, spontaneous downtime can debilitate any business. What is the cost of downtime? It depends from business to business. For some, millions of dollars. For others, millions of opportunities.
According to FEMA (Federal Emergency Management Agency), 40% of businesses fail to reopen their doors after a natural disaster and 29% fail to stay open just two years after that. The cost of downtime can be catastrophic and cripple your business now, for years, or forever.
While hurricanes and natural disasters can devastate communities, the rest of the world carries on and transactions continue. New clients are earned, customers spend money, and competitors keep operating even if your business is down. Competition doesn’t stop just because a hurricane strikes your business. New and old customers, business opportunities, and revenue can be stolen by your competitors if your business is down for too long during a natural disaster.
Your business should determine two key goals to gauge downtime and the potential business impact. First, you should determine for how long your business can afford to be down. An RTO, or Recovery Time Objective, sets the amount of time your business can afford to be down or not functioning. This addresses the downtime of business operations as a whole. Another goal to set is the RPO, or Recovery Point Objective. Your business’ RPO sets the period of time in which data could be lost in the wake of a disaster or IT issue, for example, 1 hour’s worth of customer data.
Avoid Prolonged Downtime
Your business can plan for downtime by implementing an effective cloud-based disaster recovery plan and backing up data to the cloud. The cloud presents businesses with a safe, secure, and compliant way to store data and continue essential business functions even amidst disaster. A hurricane may strike your business’ headquarters, but your essential data and network will be protected far, far away in the cloud. Think about it, the cost of downtime in the wake of disaster could be permanent closure. That makes the cost of the moving to the cloud incomparably lower. Have NewCloud Networks help you perform a business impact analysis (BIA) to get started and learn more about how to avoid costly downtime. Download your free BIA template here:
Hurricane season is already upon us here in the United States. The frequency and severity of hurricanes will only increase in the coming months, especially August and September. Don’t get caught in the path of a storm without an established, tested, and confident plan to protect your business. Below are 5 of the most important steps to prepare for Hurricane season.