Data is the most valuable asset for any company and any person dealing with this data needs to be cautious. Modern businesses rely on data. They store, process and access data for information gathering and use it for decision making. According to reports of 2017, a single mistake in handling this data can result into loss of nearly $3.6 million.
However, data can be loss due to various. Few of them are:
1. Human Error
2. Hardware Failure
3. Theft
4. Online Crime
5. Natural Disaster
The best way to deal with this is to take prevention and keep an up-to-date recovery plan and a 3-2-1 backup strategy, i.e. there should be three copies of data, kept in two different mediums, and at least one of the backups should be off site.
Read about it at: https://www.bigdatanews.datasciencecentral.com/profiles/blogs/five-ways-your-business-is-at-risk-of-data-loss