The Cost of Data Loss

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Posted by Stone Ning Sunday, October 31, 2010 8:38:00 PM Categories: Backup Efficiency Security
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No matter where and how we live or work, we are receiving, generating, spreading, exchanging and consuming data everyday. In other words, we are driven by data. In a moden digital world, data is food, blood and energy.

In 2009, the Guardian reported that Internet data heads for 500bn gigabytes. This year, BBC said global data storage reaches to one zettabyte. There is no doubt that global data storage demands to rocket in next decade. The more we rely on data, the more important that data can be. When data is lost, it is not only about the data itself, but also comes along with computer downtime and other relevant issues. You may have already experienced personal data loss, but you may not clearly tell how much it will cost in business. The table below outlines the costs associated with computer downtime and lost data for businesses.

Industry Sector
Lost Revenue Per Hour
Energy $2.8 million
Telecommunications $2.0 million
Manufacturing $1.6 million
Financial Institutions $1.4 million
Information Technology $1.3 million
Insurance $1.2 million
Retail $1.1 million
Pharmaceuticals $1.0 million
Banking $996,000
Source: IT Performance Engineering & Measurement Strategies: Quantifying Performance Loss, Meta Group, October 2000.

Number tell us the truth. To protect critical data is almost the same as to protect our lives. If you are not sure whether your important data is safe enough, it is the time to consider an assessment.

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