Data Loss

Salve Veritate

/ Bruce Cameron / 1 Comment

Perhaps the reader may ask, of what consequence is it whether the author’s exact language is preserved or not, provided we have his thought? The answer is, that inaccurate quotation is a sin against truth. It may appear in any particular instance to be a trifle, but perfection consists in small things, and perfection is no trifle. — Robert W. Shaunon

Talking about backup systems is a bit like talking about wills – its the last thing you want to think about ’cause my data is safe, secure, and sitting on my laptop’s disk. Well the truth of the matter is that one of these days your computer is going to get hit by the electronic equivalent of the 3:30 cross-town bus and you’ll be sending lilies to your data’s next of kin. Continue reading →

Metrics That Matter: Data Loss

/ Bruce Cameron

It is estimated that data loss costs U.S. businesses average $12-418 billion per year and, on average, each hour of downtime costs $50,000. The average cost to re-enter 20 megabytes of data is between $17,000 and $19,000 and takes between 19 and 21 days[i]. The cost to recreate data from scratch is estimated to be between $2000 and $8000 per megabyte[ii]. A data loss event can be catastrophic occurrence; 60% of companies that lose their data close within 6 months of the event and 72% fail within 24 months[iii].

The leading causes of data loss are: hardware or system malfunctions (40-44%), human error (29-32%), software corruption (13-14%), computer viruses (6-7%), theft or data breach (9%), hardware destruction or natural disasters (3%)[iv]. The leading causes of data theft are: attacks from external sources (73%), theft by business partners (39%), and attacks from internal sources (18%)[v]. It estimated that: 1 in 5 computers will suffer a fatal hard drive crash within its lifespan, 15% of laptops are stolen or lost (approximately 2000 per day), and, on average, a hard drive fails every 15 seconds[vi]. Continue reading →