As eCommerce continues to enjoy the pandemic induced surge, backup behavior and data protection have become more prominent issues. As more companies handle more online customer data, they are more exposed to cyber threats and other issues. Ottawa based backup service Rewind recently released a Data Protection Survey. According to them, indications are that data protection is becoming a key part of the business strategy. The study finds that companies trust and rely on cloud software, which means that many companies forgo more robust data protection measures.
Risks
For many businesses data protection is the main reason businesses deploy backup systems. They fear of losing content repository and the disruptive effects this has on business are the chief reasons. Content repository often primarily containing stocking, customer and product data. Thus, backup systems must be accompanied with robust recovery solutions which quickly mitigates the problem. Unfortunately for some small businesses this could mean shutting down for days or weeks. Predictably, the impact on short term revenue will make this an expensive problem. 89% say the biggest impact of data loss is seen in sales, order and revenue loss. According to the IDC, SMBs lose between $80k – $256k in a single down time. Consequently, wasted hours has been cited as the most significant impact of data loss.
Urgency
Additionally, there are eCommerce platforms that do not provide backup or recovery services. However, according to Rewind, 22% of customers will acquire a backup solution based on the eCommerce platforms’ advice or reviews. Majority of those surveyed had backup systems showing that across the board businesses see the urgency. One explanation of this could be the increased drive to recommend business continuity plans by eCommerce platforms.
Moreover, the loss of eCommerce data is quite common. Thus, businesses are leaning on the eCommerce platforms for help. 25% of businesses lost website data with products, images and orders information which is highest on the list. The most unsettling, 52% report they are unsure how much time would be spent recovering from data loss. For many businesses, the largest threat to eCommerce stores are human error and malicious attacks. Consequently, a third of businesses are blaming the eCommerce platform or integrations.
Long overdue
To conclude, the case for companies to implement backup systems has been long overdue. As businesses are starting to take it seriously, businesses are starting to make large investment in digitization. Thus, eCommerce companies have recognized that it is a necessity. The constant innovation over the past decades has increased the options for businesses. Additionally, there are a plethora of options for cost-effective, reliable automated backup solutions. These solutions have been engineered for business continuity, protecting, recovering data and fortifying business resilience.