You don’t need to commission any extensive studies to conclude that disruptions to your information systems are a bad thing. If your data and tech resources are critical to your business, you know it’s important to minimize downtime and prevent data loss.
However, if you do want to crack open some research, you’ll likely gain a new perspective on how important it is to make disaster recovery and contingency planning major priorities.
First, there is the widely circulated statistic that 43% of businesses that experience a catastrophic data loss never re-open, 51% go out business within two years, and only 6% survive over the long term. These numbers demonstrate how embedded a business’s data is in its ability to succeed, and the importance of effective recovery methods.
The numbers on data center outages are also alarming. While it’s clear that outages can be expensive, some analysts paint a sobering picture of just how expensive. According to a survey report from the Ponemon Institute, the average incident comes in at a cost of $5,600 per minute. The average incident lasts 90 minutes, which puts the average total cost at around $505,500 per outage. Not exactly pocket change.
Ponemon’s study also found that only a third of IT-staff respondents indicated they had adequate resources to recover from an incident. So, in essence, companies seem to be lacking essential tools necessary to stem a major source of lost revenue.
Solid contingency planning is crucial. And to be effective, it has to be tailored to the needs, requirements and resources of the organization it supports. This doesn’t mean the pursuit is cost-prohibitive. In fact, Lunarline has helped many organizations in the private and public sectors design, execute and maintain plans that help them avoid significant losses while staying well within their budget limitations.
For more information on how Lunarline can support your company in analysis, design and implementation of a contingency plan, visit our contingency planning service page. We have the experience and skill you need to make sure a data incident doesn’t turn in to a financial disaster. Contact us today!