[Preface: This is an excerpt to the 7 Shortcuts to Losing Your Data (and Probably Your Job) white paper and the 7 Shortcuts to Losing Your Data (and Probably Your Job) webinar; click on the respective links to get access to the Resource Center or to get access to a pre-recorded webinar (or sign up for a live webinar.)]

What Are the Consequences of Data Loss?

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)

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