No one can predict when¬†disaster¬†will strike, human, natural, or otherwise. Without a¬†disaster¬†recovery¬†plan in place, businesses could not only lose revenue and data, but potentially go out of business.
According to the Ponemon Institute‚Äôs Cost of Downtime study, some of the primary sources of downtime reported include: UPS battery failure, accidental/human error, cyber-attack, equipment failure, weather related, and more.¬†These factors all tie into the costs associated with¬†disasters. Every minute of downtime averaged $7,900 in revenue lost per minute. The average recovery¬†time for an unplanned outage was around 119 minutes, amounting to $901,500 total.
When setting up a plan for your online business, there are a few things to keep in mind. Understanding the difference between simply having backup operations and a¬†disaster¬†recovery¬†plan is a major factor.¬†
Step 1: Perform a Business Impact Analysis. A business impact analysis defines what data your company cannot live without. Then, figure out what amount of downtime is acceptable. Finding a hosting provider that promises 100% uptime will help with this, but also figure out your¬†recovery¬†time objective in case any downtime or¬†disasters¬†occur.
Step 2: Perform a Risk Assessment. If you are an e-commerce business that controls your own infrastructure, you need to identify potential points of failure. For example, if you have your data stored in only one location and the location dies, you will lose your data. If a hosting provider is in charge of your servers and data within a data center, ideally you will have everything stored and replicated in more than one location.
Step 3: Manage Your Risks. Once you've assessed the risks, you must manage them, either within your in-house infrastructure or through a hosting provider. Add redundancies to your network to ensure 100% uptime and geo-load balancing to ensure data is safe in many locations
Disaster¬†recovery¬†is a must-have for all e-commerce businesses. Without a recovery¬†plan, the loss of data, revenue, and customer base during a¬†disaster or downtime can be critical to your business‚Äôs survival. If you choose a hosted IT infrastructure provider like SingleHop, data will be secure in more than one data center and business can resume as usual. When¬†disaster¬†hits, a recovery¬†plan will ensure that your customers can continue shopping and your data is safe.