Independent survey commissioned by Kroll Ontrack finds most IT managers fail to consider the ‘hidden costs’ of data loss to a business.
IT managers may be putting company data at risk by underestimating the effect of its loss. This is one of the key findings of a new survey launched in Sydney today by Kroll Ontrack®, provider of the leading Ontrack® Data Recovery solutions. Specifically, the survey found that just seven per cent of respondents believe data loss has a ‘high’ impact on a business.
“The results suggest that IT managers are not making the connection between data loss and lost revenue to a company,” said Adrian Briscoe, General Manager, Ontrack Data Recovery APAC, a division of Kroll Ontrack. “They may not be taking into account hidden costs such as lost staff productivity, overtime, diverted resources and delays in responding to other issues. IT managers who do not fully appreciate the impact of data loss could also be taking unnecessary risks, such as backing up data using USB external hard drives, which can be a single point of failure.”
Data loss may also affect a company’s ability to comply with regulatory requirements regarding the security, retention and protection of important information. Failure to meet these requirements can result in heavy fines.
The problem of data loss – defined by the survey as unforeseen loss of data or information due to viruses, natural disasters, accidental deletion, system crashes, corruption or hardware failure – is one that many companies face. In fact, nearly half of all IT managers surveyed reported having lost data in their workplace in the last two years.
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