ComportSecure, a trailblazer among cloud computing service providers with a specialty in disaster recovery, recently held a forum to dive into why increased data threats are driving Disaster Recover as a Service (DRaaS) adoption. Data protection needs are at an all-time high, with cybercrime on the rise, Mother Nature acting up and internal data loss, companies are no longer relying on their internal team and infrastructure alone to protect their data.
We took a look at acts of nature in 2018, according to a report from NOAA, 2018 had the 4th highest total costs from natural disasters since 1980. Hurricane Harvey blanketed Louisiana and Texas with more than 27 trillion tons of water, creating widespread outages. In November of 2018, massive fires destroyed 19,000 homes and businesses on the west coast. On the east coast, Hurricane Florence was the second wettest on record causing 30 to 50 billion dollars of damage. Our panel like much of the country watched the news during this time as did their executive team. Many came back to work with questions and/or new initiatives to ensure that their data is protected in the case of a storm such as one of these in their area.
“We are in an era that requires increased safety precautions all around,” said Eric Young, Principal Cloud Architect of ComportSecure Cloud Managed Solutions. “We are seeing climate change affecting the decisions businesses are making for data protection. If you do not have a disaster recovery plan in place, then you are missing out on a vital insurance policy that may very well save your company should mother nature turn your way.”
In addition, companies will continue to see a bleak future when it comes to cybercrime. In fact, an official annual cybercrime report found that by cybercrime will cost 6 Trillion by 2021. Particular industries are affected more than others because of the vital consumer and/or patient information they hold within their grasp. Healthcare in particular will see ransomware attacks quadruple by 2020, according to CSO Online. Because of this industries such as healthcare, finance and government should take special care to create a disaster recovery contingency plan in the case of unexpected downtime. Loss of data can lead to crushing newspaper headlines and fines for failing to protect your data or adhering to compliance standards.
“There is a need to take extra precautions in industries that have what we call rich cyber data.” continued Young. “As consumers we expect that our data will be protected. No one wants to hear that someone got ahold of your credit card information or your medical records were breached. Companies need to protect their data so it doesn’t become a liability.”
Many of the IT experts in the group agreed that the increase in DRaaS is a good sign for business, it means that the leadership is taking notice of liabilities and giving technology leaders what they need to make the right changes. The DRaaS industry is growing by leaps and bounds, with some accounts putting the growth ahead of as-a-Service markets over the next five years. The threat landscape is expanding and companies are taking notice and making changes to their data strategy to compensate.