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EMC Suggests That Businesses Lose $1.7 Trillion Per Year Due To Data Loss

EMC Suggests that Businesses Lose $1.7 Trillion per Year Due to Data Loss

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I just read an interesting article from Article reposted here.

Here is my executive summary:

1. EMC says the world is losing $1.7 Trillion per year in data loss

2. IT Web says the world will lose $2.1 Trillion by 2019

3. Small losses for small business are $18,000 to $550,000 per loss

4. Larger losses are $5 Million to $200 Million per loss

5. Lost enterprise data has increased 400% in the last 2 years

6. Moving to the cloud, mobile is increasing the losses.

7. More than just financial loss is legal and compliance losses.

8. Downtime has to be considered but so does “Slowdown” time.

9. Threats are from the outside but more predominately from the inside

10.  Psuedo IT inside company’s that is not official IT is a large cause

Great article. From my perspective here is what you do about it:

1. CIO Magazine says “Start with the basics”: Regular Data Backups

2. I would add.  Test the backups, have the backups tested.  Did I say test the backups?  Most companies “say” they do regular backups however, things change, things get stale.  The orginal working backup quickly becomes non-functional or reliable in months without someone being assigned as part of their “income” role to check and modify as necessary.

3. Follow the 321Rule.  Have more than one backup and have it in more than one location.  You can NEVER have enough backups.

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