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Ways In Which Businesses Lose Data

Nowadays, businesses are increasingly collecting a large amount of information from their customers to create a database, which is further being used to form valuable inferences. However, accumulation of data, also poses a risk of data loss.

No matter what the size of a company is, data loss can have a serious impact on their credibility. It can be caused due to many reasons but ultimately breaks the company’s coffers at the end as data loss can prove to be costly. So it is important to take a serious note over implementing prevention systems to minimize the risk of information loss.

However, to take steps in preventing the loss of information, it is important to understand the causes of data loss. Here we have listed some common ways in which businesses lose their valuable data:

  • Changing Advanced Settings – Every computer has an “advanced settings” feature for some reason which employees from non-IT background might not know about completely. Sometimes they unknowingly change the advanced settings with an intention to modify & fix their laptop or computer. In an attempt to do so, they often end up booting the device leading to a data loss. So, it is best to consult the IT department in case a technical glitch arises rather than diving into something one doesn’t have knowledge about.
  • Failing To Backup Data – Imagine your business being exposed to a cyber-attack, natural disaster or theft etc., apart from losing other physical resources, the greatest loss is that of the data you had collected over the past. Backing up data minimizes the risk of complete data loss. So it is important to store data at a location from where it can easily be recovered. Also keep a third backup, just in case your backup file becomes corrupted.
  • Hardware Failures – Machines might face technical breakdown. However, in this process, business lose their valuable data, exposing the company to data loss threat. There can be any kind of technical glitch, from a mechanical error in the hard drive, failure of flash memory due to data writing error, power supply malfunction or something as simple as dropping down the device, there can be a myriad of things that can lead to the loss of company’s valuable data. Companies however, can opt for alternatives such as storing their data on cloud.
  • Not Following Security Protocols – Even though employees are being cognized about security measures, they still have a lax attitude towards it. Despite repeated warnings, some employees might click on email attachments sent by unknown senders opening up the doors for cyber criminals. Also, use of easily guessable passwords is a problem.  All this might result in a data loss.
  • Ransomware – Ransomware is the most common way in which hackers steal your private and confidential information. They launch a ransomware attack and encrypt the data which businesses can retrieve only if the ransom is paid. In case it is not paid within the given time frame, then the company loses all its valuable data. Sometimes, businesses are not able to recover the data even after paying for the ransom amount.

You can design a preventive strategy to overcome these problems and lessen the risk of data loss. For more information, contact Centex Technologies at (972) 375 – 9654.