Data loss can have lasting effects upon your business, usually measured in lost productivity and capital. In other words, data loss is often measured by the cost required to retrieve, restore, and/or repair its effects. Of course, this is only the beginning of how data loss can impact your operations.
We’ve all seen and heard about companies and government departments that have experienced major security and data loss events. Once the event is made public, there is a media frenzy of coverage disclosing answers to questions like: Were your records compromised? How can you protect nonpublic information in the future? What should you do if you are a victim? However, as the media focus moves to another topic, the breach becomes yesterday’s news - and there is very little coverage of what repercussions and penalties those entities that were breached faced - if any.
No business owner wants to experience data loss in any way, shape or form, which is why it’s so crucial that preventive measures are taken. If you don’t have protections in place, you may find yourself out of business due to a data loss disaster. While that’s certainly the worst-case scenario, the other consequences of data loss are downright troublesome in their own right.