Data loss hits company profits

Category: Data recovery

17 July, 2012

Data loss hit company margins in this year when many businesses are struggling in to make a profit in the current climate.

Research by K logix found that data leaks and loss cost the average company 0.6 per cent of their revenue.

The "slow drip" of data loss was caused by small hacks, unknown exposures and employee misuse of data, with data recovery not possible in all cases.

Furthermore, the company predicted that by 2014 the total revenue cost of data loss will be 0.93 per cent and will rise to 1.6 per cent by 2018.

This means the cost to businesses from data loss is expected to triple in the next five years.

Kevin West, chief executive officer of K logix said those in charge of data management often find it hard to secure the budget they need.

As well as improving internal safeguards and training, businesses could benefit from contacting data recovery experts when they think data may be gone forever as more often then not it can be retrieved.

Looking for data recovery specialist? Kroll Ontrack has over 50,000 successful data recovery stories to tell every year.

Posted by Lucy Hill