Losing the data of the customers is one of the dangerous risks that a company can face today.
It will show a significant impact on the company’s credibility as well. The average cost of losing the customer data is seven million dollars as of 2019 and leads to the closing of the company 60% of companies.
The higher price that the company will pay is losing their customers’ trust and faith.
So, the only way to stop all this is to create and implement a data backup strategy.
What is a data backup strategy?
In the IT industry, a data backup strategy involves making a copy of data on the system and storing it elsewhere, and using it if original data is lost or corrupted.
This backup strategy will also help you to restore any files deleted from the system.
Step by step guide for creating a good data backup strategy
Here are six steps to be followed for creating a good data backup strategy:
1. Assess your company’s backup needs
There are many things to consider in this step, which are:
- What data is to be protected?
A company might need to back up files, operating systems, databases, applications, and configurations. You can manage if there is no immediate backup for some things, but some crucial data needs instant access.
- Data risks to be considered
To protect your data from a hacker, you need to find answers to some questions such as:
- Has your company been hacked before?
- Are careless employees to be considered a security concern?
- Is my company’s location at risk of facing floods or wildfires?
2. Evaluating the options
Different companies need different backup solutions according to their needs. So, let us see the available backup options:
- Software solutions
You can install many software options on your system and will need a separate server for it. This option best suits you if your infrastructure changes often.
- Hardware backups
Hard drive backups are kept on-site, mostly mounted on a wall, and come with a storage component. These can be easily attached to your network, making things convenient.
- Cloud services
Cloud services can be bought as a service or offsite backup. You will run your backup and store the data at the vendor’s cloud infrastructure.
- Hybrid solutions
It is a popular solution implemented by many companies. They combine cloud backups and software, generating multiple options for restoring data.
Some backup solutions can be more expensive than others. Buying new hardware is costly and will take downtime to install, while cloud services are more affordable.
When you budget, consider these things:
- How much do you want to spend?
- Do you want to add your budget to capital expenditure? Or as an operating expense?
- How much do you need to spend if you lose data to a cybersecurity attack or disaster?
- Analyze the cost of employee training to manage the backup, if you are not selecting BaaS (Business as a Service)
4. Selecting a platform
Decide what you want after making careful evaluations. As mentioned earlier, some companies opt for multiple backup options to cover themselves. Choosing only one backup option, such as a cloud service, will do good for you.
If you have an internet connection–a cloud backup will be enough to cover your data needs, and you can access your data quickly from anywhere.
5. Choosing a data backup vendor
You need to choose a vendor to help you operate your new backup strategy, especially mysql backup plays a vital role in any business. Thus, it is important to back it up correctly. You can either select an all-in-one service or MySQL backup service from a trusted vendor.
Some companies provide software, hardware, and cloud-based solutions and might also help you with employee training. Before choosing a vendor, some things must be considered, such as:
- The overall cost of implementation
- The vendor’s reputation
- Which options are included
- How fast the implementation can be done
6. Create a Timetable
A vendor may give you an estimated time frame for implementation from the vendor, but you must create a timetable of your own. It helps you in planning for implementation.
Things to be considered while creating your timetable is:
- Things you need to do before the vendor starts the work.
- Is there any need to get budget approval? If yes, how long might it take?
- The timeline that was given by the vendor for completing the system.
- Will your business be interrupted by the installation?
- Is there any chance that the installation can affect your clients? If so, How to prevent the clients from getting affected.
Losing data can mean losing clients for businesses. This is why creating a sound data backup strategy is necessary.
A good place to start this process is analyzing what your company needs, your options and setting a budget before choosing a platform or vendor for the backup.
Allow some extra time for each process so that you will not face any disturbances if the work is delayed by the vendor or by some other external reasons. When these steps are followed, your business is ready to flourish.
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Abhay is a Digital Marketing Guru and an accomplished entrepreneur with an experience of a decade working with various businesses varying from startups to established brands. He co-founded many companies like Logicsofts, PrintYo, CrazyRise and more. He is passionate about SEO and Online Data Analytics, which plays a vital role in any business to grow and mutate as per the data results. Follow me on LinkedIn, Facebook and Instagram