Data loss is the most common cause of business disruption. When critical information is lost, downtime ensues. Downtime means that a system or service is not working at a given time.

According to a research article from 2019:

· 50% of companies experienced a downtime event in the past 5 years that equated to longer than one full workday.

· 93% of companies who experience extreme data loss do not survive the next full year.

Most Common Causes of Data Loss

Hardware and software failure are the two leading causes of data loss. Your hard drive is the most fragile part of your computer and can easily be damaged by mishandling, overheating or mechanical issues. Power outages can also cause severe damage, shutting software systems down without warning. Not only can this result in the loss of unsaved data, but it can also cause existing files to be corrupted due to improper shutdown procedures. Sometimes, entire programs may be rendered non-functional.

Human error is the third leading cause of data loss. Just ask the employee at Bartle Bogle Hegarty, who accidentally deleted over company 1,000 files. With clients such as Google, Nike, and Red Bull, you can imagine what a catastrophic loss this was. BBH’s IT Department was able to recover some of the lost information, however none of it was restored to the original place. This cost BBH hundreds of thousands of dollars in recovery and downtime.

The financial impact of downtime

The cost associated with downtime varies depending on:

· Recovery Labor – working hours spent recovering lost information; with employees idled until important information is restored.

· Business Opportunity Loss – losing data can impact revenue if the lost information is imperative for the business to operate.

· Equipment Repair/Replacement.

A study estimates that a single hour of downtime for a small company costs $8,000, $74,000 for a medium sized company and $700,000 for a large enterprise.

Why Quarto is the Solution

Quarto is a web-based Knowledge Management System (KMS) that requires zero software installation and poses no threat of crashing. The KMS stores content remotely and is easily accessed from any device through the internet. It is a customizable platform, giving you control of who can access and edit uploaded information. Through Quarto, data loss is virtually impossible.

Also, because it is a web-based system, Quarto is update in real time and allows a better flow of information between different company departments and important decision makers. This improved information flow plays a significant part in streamlining business processes.