More than a year into the pandemic, COVID has certainly changed the way organizations do business. One of the challenges shifting the IT landscape faster than ever before. In this past year, ransomware and other malware attacks have escalated and dominated the news cycle, causing business losses totaling millions of dollars along with hard hits to brand reputations.

Companies are having to react to this ever-changing landscape and looking to augment and supplement their IT infrastructure.

So how are companies changing their backup and disaster recovery (DR) strategies? Lets take a look at how 500 global IT and business leaders prioritized changes, especially as we move deeper into  work-from-home (WFH) and hybrid working environments.

  • 7% of organizations saw an impact to their WFH data protection as a result of COVID.
    • Because of this, 90.8% point to modernizing data protection, including backup and DR, as a top IT priority that is crucial to their overall digital transformation.
  • Many organizations are modernizing their infrastructure. It is estimated that 80% of new applications will be deployed in the cloud or at the edge**, where most cloud applications will either be SaaS or cloud-native containerized While this modernization will help companies in the long run, it can also create a potential data management gap.
  • 95.1% of organizations have suffered a ransomware or malware attack in the past 12 months.
    • More than 80% indicating at least one attack resulting in data corruption.
    • 43% experiencing unrecoverable within the past 12 months.
    • More than one-third of those surveyed suffered more than 25 attacks during that time.
  • As these threats increase, 31.1% of respondents reported a direct loss of revenue and 35% suffered from instances of unrecoverable data.
    • The indirect cost in terms of people may have been even more costly with 45.4% reporting a loss of employee productivity, with nearly half (49%) incurring employee overtime to combat the attack and get businesses back online.
    • The cost of downtime ranges from thousands of dollars to hundreds of thousands of dollars per hour, organizations are faced with greater revenue and employee implications.

But what does this mean and how will organizations move these strategies forward? Well more than half of businesses (52.1%) are planning to invest in both backup and DR improvements. And one of the key technologies now emerging to help IT organizations improve data protection, reduce data loss, and recover data more quickly is (CDP). In fact, CDP is becoming a key means of driving toward near-zero RPO and near-zero RTO. Moreover, the highly granular nature of CDP recoveries can assist organizations in recovering to a point just prior to a cyberattack to assure recovery with the least amount of data loss possible.

These are staggering statistics about data loss that serve as an eye opener about the importance of protecting your data-driven business, especially as this is just a small slice of the industry.

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While it is nearly impossible to anticipate every compliance obstacle that may come your way, you should be prepared to handle as many of them as possible. Being proactive now means that you’ll enjoy peace of mind later. If you have any questions on compliance or need any assistance CB Tech Group is here for you. Like we said earlier it is better to be prepared beforehand then later.