Enquire Now

Please provide your details to reserve space at Guardian Vaults.

Do you agree to receive promotional emails from us?
Would you like to receive our guide to Gold and Silver Bullion?

Enquire Now

Please provide your details to reserve space at Guardian Vaults.

Do you agree to receive promotional emails from us?
Would you like to receive our guide to Gold and Silver Bullion?

Enquire Now

Please provide your details to reserve space at Guardian Vaults.

Do you agree to receive promotional emails from us?
Would you like to receive our guide to Gold and Silver Bullion?

Enquire Now

Please provide your details to reserve space at Guardian Vaults.

Do you agree to receive promotional emails from us?
Would you like to receive our guide to Gold and Silver Bullion?

Enquire Now

Please provide your details to reserve space at Guardian Vaults.

Do you agree to receive promotional emails from us?
Would you like to receive our guide to Gold and Silver Bullion?

Enquire Now

Data loss can have a devastating impact on a company’s performance, particularly when the information is critical for maintaining day-to-day operations.

This is why many companies invest in data storage as part of a comprehensive disaster recovery plan. Having vital information backed up offsite ensures businesses can get systems up and running again as quickly as possible.

But what are the biggest threats to a company’s data? Here are six common causes of data loss.

1. Hardware failure

A recent Kroll Ontrack study showed hardware failures are the most frequently cited reason for data loss among businesses and home users.

Of the 1,066 people surveyed, 66 per cent claimed a hardware crash was responsible for their most recent loss of information, with hard disk drives (HDD) being the main culprit.

2. Human error

Even the most experienced computer users make mistakes, so it’s no surprise human error was cited as the second-most common reason for data loss in the Kroll study.

Whether it’s something as simple as spilling coffee on a laptop or a more serious error such as pulling the wrong drive from a RAID array that causes a database failure, the risk of important information becoming unavailable can make data storage an appealing option.

Twenty-seven per cent of companies claimed their most recent data loss led to a business process failing, including mission-critical services.

3. Natural disasters

Australia is prone to natural disasters, including bushfires, floods and thunderstorms – and it is in these circumstances where offsite data storage can be particularly helpful.

Should extreme weather conditions cause considerable damage to your office or work site, you can rest assured that business data remains out of harm’s way.

4. Theft or loss

It is not uncommon for devices containing important information to be lost or stolen.

Not only is this a great cause of embarrassment for the organisation involved, they could find themselves landed with a hefty fine if the data is sensitive or confidential.

Data backed up at a private vaulting service is protected by a number of sophisticated security measures to prevent such incidents.

5. Hackers and viruses

Cyber criminals are becoming increasingly advanced, meaning companies must keep up to date with the latest IT security software and protocols to remain ahead of the game.

However, despite their best efforts, many firms still fall victim to hackers, malware and computer viruses that can corrupt business data and leave important business systems unavailable.

This may be particularly problematic in Australia, with recent Ponemon Institute research showing the country has some of the lowest rates of IT security training and education in the world.

6. Software failure

The Kroll Ontrack study claimed 6 per cent of data loss incidents are due to software failings, which can be hard to prevent or protect against.

“Businesses and home users should have working redundancies, such as a backup device or service in place, and a continuity plan that is current and accessible in the event of a loss,” advised Jeff Pederson, manager of data recovery operations for Kroll Ontrack.

6 common reasons for data loss

Data loss can have a devastating impact on a company’s performance, particularly when the information is critical for maintaining day-to-day operations.

This is why many companies invest in data storage as part of a comprehensive disaster recovery plan. Having vital information backed up offsite ensures businesses can get systems up and running again as quickly as possible.

But what are the biggest threats to a company’s data? Here are six common causes of data loss.

1. Hardware failure

A recent Kroll Ontrack study showed hardware failures are the most frequently cited reason for data loss among businesses and home users.

Of the 1,066 people surveyed, 66 per cent claimed a hardware crash was responsible for their most recent loss of information, with hard disk drives (HDD) being the main culprit.

2. Human error

Even the most experienced computer users make mistakes, so it’s no surprise human error was cited as the second-most common reason for data loss in the Kroll study.

Whether it’s something as simple as spilling coffee on a laptop or a more serious error such as pulling the wrong drive from a RAID array that causes a database failure, the risk of important information becoming unavailable can make data storage an appealing option.

Twenty-seven per cent of companies claimed their most recent data loss led to a business process failing, including mission-critical services.

3. Natural disasters

Australia is prone to natural disasters, including bushfires, floods and thunderstorms – and it is in these circumstances where offsite data storage can be particularly helpful.

Should extreme weather conditions cause considerable damage to your office or work site, you can rest assured that business data remains out of harm’s way.

4. Theft or loss

It is not uncommon for devices containing important information to be lost or stolen.

Not only is this a great cause of embarrassment for the organisation involved, they could find themselves landed with a hefty fine if the data is sensitive or confidential.

Data backed up at a private vaulting service is protected by a number of sophisticated security measures to prevent such incidents.

5. Hackers and viruses

Cyber criminals are becoming increasingly advanced, meaning companies must keep up to date with the latest IT security software and protocols to remain ahead of the game.

However, despite their best efforts, many firms still fall victim to hackers, malware and computer viruses that can corrupt business data and leave important business systems unavailable.

This may be particularly problematic in Australia, with recent Ponemon Institute research showing the country has some of the lowest rates of IT security training and education in the world.

6. Software failure

The Kroll Ontrack study claimed 6 per cent of data loss incidents are due to software failings, which can be hard to prevent or protect against.

“Businesses and home users should have working redundancies, such as a backup device or service in place, and a continuity plan that is current and accessible in the event of a loss,” advised Jeff Pederson, manager of data recovery operations for Kroll Ontrack.

Disclaimers: Guardian Vaults Holdings Pty Ltd, Registered Office, Scottish House, 100 William Street, Melbourne, Victoria, 3000. ACN 138618176 (“Guardian Vaults”) All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from the publisher and/or the author. Information contained herein is believed to be reliable, but its accuracy cannot be guaranteed. It is not designed to meet your personal situation. Guardian Vaults, its officers, agents, representatives and employees do not hold an Australian Financial Services License (AFSL), are not an authorised representative of an AFSL and otherwise are not qualified to provide you with advice of any kind in relation to financial products. If you require advice about a financial product, you should contact a properly licensed or authorised financial advisor. The information is indicative and general in nature only and is prepared for information purposes only and does not purport to contain all matters relevant to any particular investment. Subject to any terms implied by law and which cannot be excluded, Guardian Vaults, shall not be liable for any errors, omissions, defects or misrepresentations (including by reasons of negligence, negligent misstatement or otherwise) or for any loss or damage (direct or indirect) suffered by persons who use or rely on such information. The opinions expressed herein are those of the publisher and/or the author and may not be representative of the opinions of Guardian Vaults, its officers, agents, representatives and employees. Such information does not take into account the particular circumstances, investment objectives and needs for investment of any person, or purport to be comprehensive or constitute investment or financial product advice and should not be relied upon as such. Past performance is not indicative of future results. Due to various factors, including changing market conditions and/or laws the content may no longer be reflective of current opinions or positions. You should seek professional advice before you decide to invest or consider any action based on the information provided. If you do not agree with any of the above disclaimers, you should immediately cease viewing or making use of any of the information provided.