The Cost of Losing Your Data

What Does Losing Your Data Cost You?

Losing your personal items is rough, but what about losing your data? 

We all worry that our family photos, financial statements, and documents are safe and sound. From monthly expenses to legal documents, every file you have saved is important. However, saving files directly to your computer doesn’t 100% guarantee the files are permanently safe. Hard drives can deteriorate over time with use, become outdated an inaccessible and unable to retrieve saved information. Computer hard drives can also be physically destroyed during catastrophic events, such as hurricanes, (disgruntled employee), floods, or fires .

What Happens After You Lose Your Data?

Sadly, for most businesses, having to keep the business doors closed means losing hundreds, if not thousands, of dollars in revenue. Most businesses struggle to recover after being hit this hard financially. Businesses lose their clients when they can’t re-open fast enough. This is why it is vital for you to have a disaster recovery plan before the damage is done. Get back on your feet without facing huge fees, downtime and potentially having to close your front doors for good.

If your business loses critical documents, you need to account for the financial impact of not being able to run your company. The average loss in capital is estimated to be $5,800 per minute, from The 20.  Since businesses greatly vary in revenue, you can look at the cost of downtime as a formula to have a better idea of downtime costs: Lost productivity from employees + Recovery costs + Lost revenue. 

How Do I Recover Lost Files and Information?

In some cases, you’re able to recover the data by reaching out to an IT company in Jacksonville, FL, but that comes at a price. According to Thumbtack, in 2019, data recovery companies “charge a $250 minimum“ to even get started on trying to recover your files,  without a 100% guarantee they’ll be able fully recover your information. Talk about pricey! There’s also no way to guarantee your data can be recovered with these services. Hard drives can be damaged beyond repair. Imagine having to hundreds of dollars for something that may not be able to restore your files.

In 2019, data recovery companies “charge a $250 minimum“ to even get started on trying to recover your files, without a 100% guarantee they'll be able fully recover your information.

Thumbtack, 2019

That Won't Ever Happen to Me

On the First Coast, we experience passing storms and power outages pretty frequently. I can’t think of the last day it didn’t rain! Lightning can fry your computer’s hard drive, leaving you completely in the dark without any of your files, e-mails, and even your telephone system. Dreams Come True of Jacksonville, FL experienced this exact dilemma. Their entire system was down after being struck by lightning. Thankfully, they reached out to Kustura Technologies. We were able to replace their work stations, including computers and telephones, without too much downtime. You can read more about Dreams Come True’s experience with Kustura Technologies here in our case study.

While Dreams Come True was able to recover fairly quickly with our help, they still had to face the financial cost of replacing all of their computers, telephone systems and recovering their critical files of financial documents and personal records. Without Kustura’s quick response time, it would have taken ages for them to re-open their doors and get back to making dreams come true. Make sure to read our guide on how to prepare for hurricane season and avoid disruptions in your day to day operations. 

Jacksonville, FL after Hurricane Irma
Down Town Jacksonville, FL After Hurricane Irma

How Do I Prepare Myself?

Having an IT disaster prevention plan is key. We prepare for bad weather by stocking up on fresh water and  boarding our windows. Why should we neglect to protect our digital assets as well? Contacting your local MSP IT tech provider to assess your backup needs is the first step. Once you’ve determined what information needs to be backed up, they will help choose the best way to ensure its safety stored offsite, away from the danger zone. Kustura Technologies has their own privately owned datacenter and offers scheduled remote backups as one of their IT cloud solutions. Keeping your information out of harm’s way is the goal, making storing your data off-site another important factor. Contact us to learn more about securing your data and avoiding spending hundreds on recovery services. 

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