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Data loss is more than physical money loss

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09-07-2020

Data loss broadly can be classified in two types:

1. Data stolen or its accidentally deleted or corrupted, Virus attack 2. Data we collected but has not been correctly used for

In both the scenario the loss to a business is tremendous and the impact defers on the type & size of your business.

Let’s discuss the 1st type-

1. Data stolen or its accidentally deleted or corrupted

This type occurs due to our negligence in selection of right hardware or authentic software’s and failing to estimate the importance of small but important components, example

  • • SSL for your website
  • • a good backup option and its storage
    •     o cloud backup should be preferred compared on premises

2. Data we collected but has not been correctly used for

This type is more dangerous as despite us owning the data it’s not being used to improve

  • • Our Employee’s performance
  •     o We fail to measure the productivity of our employees & the employee themselves do not have the self-introspection as we have not put any procedure or provided any tool to measure the same.
  • • Reduce Cost & enhance Profitability
  •     o If we are able to take care of the employee’s performance most of our cost are automatically reduced and it in turn enhances our profitability.