How Safe Is Your Data And How Much Is It Worth?
Posted on | April 15, 2007 | No Comments
As an IT professional, when I speak to people about the importance of backing up their data, a common question I am asked is “How much will a backup solution cost?” I often respond by saying that the more appropriate questions should be: “How much is my data worth?” and “How much will it cost me if I were to lose all my data?”
As you consider the above two questions, perhaps we should first define data. Data and its value differ according to whom it belongs. A report or assignment due for sub-mission, photo albums of a child’s baptism, an important architectural drawing or client requirements all have different levels of value and importance. Loss of data would also cause different levels of inconvenience to the owner; for a business the loss of data may mean loss of credibility and future orders, a student may loose a grade or fail a course entirely.
To reinforce the need and importance of backups and data security, in some countries, organisations are bound by laws. Regulatory bodies can levy fines and penalties against companies that breach strict criteria concerning data protection and recovery.
In the US, discount retailer TJ Maxx suffered a security breach in mid-December 2006 where their customers’ credit card information was stolen and used in a fraud valued at US$8 million before the breach was discovered a month later. This incident is the subject of investigations by a number of legislative authorities throughout the US and is likely to lead to the prosecution of not only the criminals, but also the company. So what should one consider when thinking about data protection and backup?
- Restrict physical access to your computer system and data only to those who need access.
- Make proper use of passwords.
- How much data would you have to backup?
- How quickly would you want to restore your data if you had to?
- How much time do you have or would you need to backup your data?
A backup solution will cost money, but loss of your data could cost much more. However, putting a price on the cost of a data loss may not be as easy as budgeting for a backup solution. The cost of a backup solution will depend on a number of factors, including:
- Type and capacity of the backup device.
- The number of backup media required if media is required.
- Backup software – occasionally specialist backup software is required.
These and other factors will affect the price of an overall backup solution. Is it worth spending the money? Hopefully, you won’t have to suffer a data loss to learn the answer to that question. As we live in a hurricane zone, now may be a good time to implement a backup solution.
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