In today’s business world, data is king.
That’s because, no matter the size of your company, you’re constantly collecting and analyzing different types of data. Purchasing trends, customer information, expense reports — they’re all possible because of the data you collect and store on a day-to-day (or even hour-to-hour) basis.
But, what happens if a data disaster were to strike and you no longer had access to the vital information that helps you keep running and building your business? If you are a small business owner and want to ensure this disaster will not devastate your business there are some ways you can prepare for data loss. They include:
Look for where the risks lie
There are several potential causes for data loss that businesses need to be prepared for, including lost or stolen computers and phones, hard drive failures, and cyber crime. At the same time, natural disasters, such as hurricanes, flooding, and tornados can also damage important tech equipment and result in lost data.
Educate your employees
Employees can also be the cause of data loss — sometimes knowingly, sometimes unknowingly. This can result from how they password-protect their equipment, to how they handle different cyber threats such as phishing to what information you give every employee access to. That’s why you must have a protocol in place for educating employees about the importance of data security and the role they play in ensuring the information that is vital to your business and customer privacy is always protected.
Backup your data
The potential impact of data loss can often be easily overcome if you back up your data. This means ensuring you have technology solutions — such as off-site backups — in place to make the backing up of data a regular part of how you do business.
Know how you’ll recover. According to a 2020 report, one-sixth of small business executives don’t know their disaster recovery time objectives — or how long it would take to bring data back online or recover what was lost. That’s why all business leaders need to have a plan in place if they were to experience data loss, including whom they would call for disaster recovery help.
Data loss can hurt your business's bottom line and the confidence your customers have in your services and leadership. Don’t let it be a threat to your business — make sure you are prepared from the start.