16 July 2014 — 1 min read
3-2-1: A Simple Rule for Complex Data Protection
When companies lose data, the ripple effect reaches all the way to the bottom line. For a gargantuan company like Amazon, data loss and its associated downtime could cost more than $65 million per minute.
For small and medium businesses, downtime can be equally painful. In a joint study, Acronis and IDC found that 80 percent of SMBs estimate that data recovery costs $20,000 per hour. The remaining 20 percent put that figure at more than $100,000 per hour.
Beyond these initial data recovery costs, companies incur additional costs from lost goodwill and legal fines even after their data is restored. In fact, according to a recent study from IBM into the “hidden costs” of data breaches, having one million compromised records costs an average of nearly $40 million. Additionally, these large-scale breaches take 100 days longer than smaller breaches to detect and contain.