Last year was a tough one for many countries and their respected businesses which were victims of unavoidable natural disasters such as floods, earthquakes and tsunamis. Countries like Thailand, Australia, Brazil and Japan were just some of the countries to feel the impact of these devastating forces of nature.
As horrendous as these events were, it is true that many of the businesses, who had not invested enough funding into their data disaster recovery plans, had not expected to have been hit. New research has also shown that even after these companies rebuilt, they have still not made sufficient enough improvements to their recovery systems.
In fact, if we look at those businesses which are in the US financial sector, an increased level of backup recovery could be much needed as the amount of data these businesses are responsible for handling is growing by the hour. Last year, trading volume for options raised by 19% from 2010 to five billion contracts. Add the 600,000 worldwide credit card transactions per minute and suddenly it’s clear to see the unbelievable amount of data that has be stored and protected.
However, the research showed that only 33% of IT managers working within these institutions felt they had competent and reliable resources which could be affective in the event of a disaster striking. Why executives don’t feel the need to improve on the remaining figures of data continuity plans is not clearly known, although a trend toward doubting the effectiveness of systems such as cloud online business backup did appear.
Because of the improved accessibility, availability, and encrypted remote storage of online business backup, it is hard to warrant this as a reason as to not incorporate this newer technology into the infrastructures of business. System downtime alone from last year cost 48% of locally backed up SMB’s in this sector hundreds of thousands of dollars due to unproductivity while their data was being recovered.
Hopefully by viewing the subject of online business backup in the future with a more open mind and considerate approach, the financial sector and others may be able to benefit from the advantages of this system, and will be able to recover much better in the event of being hit by a disaster.