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Cybersecurity and Data Loss Threats for Business Owners

Data is increasingly valuable in the modern business world and data loss is a concern on everyone’s minds. What are the threats when it comes to data loss and how can you reduce the risk of data loss for your business? Let’s explore the data loss threats for business owners.  

Data Loss and Hardware Failure

Data that we store locally is at risk if hardware, such as a hard drive, fails. In some cases, recovering data might be possible. Even with the best technology, the key word here is “might”. The problem with data recoverability and hardware failures is that it takes time and money. The process is not instant and in the meantime, your business is on hold.

Data Loss and Software Failure

Software issues are devastating. The loss of your operating system, file corruption, and even damage from malware can cause data loss. Like data loss that occurs with hardware failure, data recovery from software issues is not always possible.

Data Loss and Cybersecurity

There is plenty to fear when it comes to cybersecurity and data loss. Virus and malware are also very capable of causing data loss for businesses. Security upgrades and a good antivirus or antimalware program can help, but they are only as effective as their list of virus and malware definitions are. What this means is that someone must update these programs constantly within your organisation.

Data Loss and Human Error

Mistakes happen. In many instances, data loss from human error is permanent. If someone tells Word to delete the copy of your policy and procedures and it does, that data is likely gone. In some case, recovery of the lost data might be as simple as removing it from the trash bin, or through a data recovery service, but again, the key word is “might”.

How to Avoid Data Loss

Data loss from hardware and software failures and from cybersecurity issues and human error are easy to avoid if your business utilises the advantages of the ‘cloud’. Software subscriptions, such as Microsoft Office 365 can also help as subscription based software updates regularly as the publisher releases new security patches.

Cloud computing services like Google removes data from your system so even if your hard drive fails, your data is not stored there and is not lost or damaged. You simply need to log into your cloud account and all of your data is there and intact.

Learn more about how cloud computing can benefit your business in our Nationwide blog.