New study finds avoidable data loss is costing companies billions annually

New study finds avoidable data loss is costing companies billions annually

As downtime due to security intrusions become more commonplace in the enterprise, a growing number of organizations are making network defense a top priority. And while almost every company has security on their minds, a new report has found that the majority of businesses aren’t doing enough to sufficiently protect their networks.

The EMC study found that an overwhelming majority of corporations are “behind the curve” in terms of their data protection solutions. Eighty-seven percent of organizations surveyed lacked the appropriate security tools  and suffered prolonged disruption after intrusions.

The survey, which included responses from more than 3,000 IT decision-makers across the globe, also revealed that many of these know they’re in a bad situation and 71 percent said they are “not very confident” that they would be able to recover all of their critical data after a service disruption. Another 84 percent of respondents said they lack confidence in their defense solutions to meet the future challenges of the business.

Nearly half of all participating enterprises have suffered unplanned system downtime and 32 percent have lost critical data. Downtime and loss of information can be extremely expensive. According to EMC research, data loss has cost organizations $754 billion in the last year, and unplanned downtime is even more expensive, with a price tag of $954 billion. Over the last 12 months, the average organization has lost 2.3 terabytes of data, the equivalent of 24 million emails.

Businesses realize more is needed to protect data 
​Despite acknowledging that they are not doing enough to protect their assets resulting in data loss, 64 percent of participating organizations reported data protection as being “totally critical to their success.”

One of the most reliable ways to increase data security is to implement a backup and disaster recovery solution that ensures business-critical information isn’t lost after a disruption. Deep Freeze Enterprise from Faronics can help organizations secure their sensitive files and dramatically reduce the cost of data loss and downtime.

This software from Faronics provides organizations with a service that can easily restore pre​-configured settings in the event of a security intrusion or malware infection. Internal IT staff simply need to reboot to restore devices to the settings put in place before the hardware was compromised, ensuring protection of necessary systems and information.

About The Author

Suzannah Hastings

Suzannah is interested in all things digital, from software security to the latest technological advances. She writes about ways in which the increasingly internet-driven landscape and windows technologies like steady state alternative that change our lives, and what we can expect in the future.

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