At Object Matrix, we are extremely proud to celebrate World Backup Day on March 31st each year. As a leading provider of digital content governance and object storage solutions, we know first-hand the importance of securing and protecting your valuable data. But it’s not only about keeping your data safe – ensuring the longevity of your digital assets is also vital.
29% of data loss cases are caused by accident, and World Backup Day provides a yearly reminder to take action and reduce the risks. We understand the importance of data backup and encourage businesses to prioritise it as part of their disaster recovery and business continuity plans. With these strategies in place, businesses can rest at ease knowing their data is secure.
But not everyone has these strategies in place…
Data loss can be incredibly damaging to any business, and the consequences can be severe. Losing critical data can lead to financial loss, reputational damage, and even legal action. It’s normal to believe that you won’t lose your data, but it does happen. And it could affect you next.
Why should I backup my data?
1. Different types of data loss
Data loss can take effect in numerous ways. There is no way to predict how and when it will happen because there are so many variables involved. Whether it’s human error, hardware failures, natural disasters, or cyberattacks, businesses risk losing valuable data forever if they fail to implement a backup, business continuity, or disaster recovery plan.
2. Disaster recovery plan
A comprehensive disaster recovery plan can help organisations maintain continuity, even in the event of data loss. Being aware of potential threats and preparing relevant recovery protocols puts you in the best position should data loss occur. A disaster recovery plan can assist you in quickly restoring data and resuming operations with minimal downtime.
3. Avoid legal issues
As well as maintaining continuity, data backup is critical for meeting regulatory requirements. Data retention regulations vary by industry, and failure to comply can result in fines and legal ramifications, which has a knock-on effect with reputation and finances. There is little justification for data breaches, and ignorance is not an excuse.
If you are confident that your organisation meets the legal standards of compliance, you have one less thing to worry about. On the other hand, avoiding data loss from external factors is more difficult. However, securely backing up your data can reduce threats, and minimise legal issues.
4. Data loss can be costly
Data is one of the most valuable assets a company can own. Failing to prepare for disaster can result in significant financial losses. Companies invest huge amounts of money in producing, shaping, and revising their data, and if it is destroyed, it may cost millions to recreate. Although implementing a backup plan may come at a cost, it is a necessity, and in the long-term, it becomes a cost-effective option. If data is backed up, it can easily and quickly be restored, and any costs associated with data recovery expenses can be avoided.
5. Company reputation
Losing customer data as a result of a data breach can have severe consequences for a business’s reputation. Bad news travels fast, and as well as losing trust, organisations risk losing credibility. By backing up customer’s data, companies can quickly restore lost content in the event of a breach, thereby protecting their reputation.
At Object Matrix, we provide businesses with a range of digital content governance and object storage solutions, including MatrixStore, a scalable and secure object storage platform. Our solutions help businesses protect their data, ensuring that it is always secure, easily accessible, and recoverable.
We specialise in managing, protecting and storing your data, optimising media workflows, whilst keeping disaster recovery and business continuity at the forefront. Check out our website for more information on our solutions and some handy case studies. You can also get in touch with the team here.
For more information on World Backup Day, click here to visit their official website!
About Object Matrix
Object Matrix is the award-winning software company that pioneered object storage and the modernisation of media archives. It exists to enable global collaboration, increase operational efficiencies and empower creativity through deployment of MatrixStore, the on-prem, hybrid and cloud storage platform. Their unified deployment approach ensures content spans on-prem and cloud storage whilst their focus on the media industry gives them a deep understanding of the challenges organisations face when protecting, processing and sharing video content. Customers include: NBC Universal, TV Globo, Warner Bros. Discovery, MSG, ATP and the BBC, to name but a few!