What Are the Consequences of Data Loss?
The effects of corporate data loss are not just an annoyance. The consequences of data loss are dire; here is a sampling of just a few statistics related to the impact of data loss on business:
- 93% of companies that lost their data center for 10 days or more due to a disaster, filed for bankruptcy within one year of the disaster. 50% of businesses that found themselves without data management for this same time period filed for bankruptcy immediately. (National Archives & Records Administration in Washington)
- 94% of companies suffering from a catastrophic data loss do not survive – 43% never reopen and 51% close within two years. (University of Texas)
- 30% of all businesses that have a major fire go out of business within a year and 70% fail within five years. (Home Office Computing Magazine)
- 77% of those companies who do test their tape backups found back-up failures. (Boston Computing Network, Data Loss Statistics)
- 7 out of 10 small firms that experience a major data loss go out of business within a year. (DTI/Price Waterhouse Coopers)
- 96% of all business workstations are not being backed up. (Contingency Planning and Strategic Research Corporation)
- 50% of all tape backups fail to restore. (Gartner)
- 25% of all PC users suffer from data loss each year (Gartner)
If these statistics trouble you, you may want to continue your research by looking at tools to protect against the problem in the first place. Download the Unitrends Backup and DRaaS Buyers Guide to see the latest solutions for data protection and disaster recovery.
No one wants to be a statistic.