R&D Companies and the Threat of Data Loss

Large companies rely on the data they create, store, and collect in order to function. Data loss could actually result in some companies winding up business. Research and Development companies revolve around data. Without data, there is neither research nor can there be development. Therefore, when these companies lose data due to human error, technical fault or natural disasters, they can stand to lose several million dollars or worse and they will have to close shop. Research and Development drives every form of progress today, which is why data loss is considered catastrophic in this sector.

 

Some Statistics

 

Since data loss is such a serious phenomenon, there are constant debates about how companies secure themselves against. Surveys reveal that despite precautions taken and huge amounts spent on security, data loss is still rampant.

 

A recent survey shows that only 23% of the companies questioned, encrypted their data during transfer. Only 77% of companies surveyed, implemented even the basic security measures. Less than 63% of R&D companies back up data to external drives.

 

In the US, a computer is stolen every 43 seconds. 1 out of 14 laptops is lost or stolen and 57% of corporate crimes are linked to laptop theft.

 

Most companies do not have any idea what data is on their employees’ personal devices. Data is emailed back and forth between employees and these employees may not necessarily have the authority to have access to this data.

 

Companies in the U.S. lost up to $59 billion in proprietary information and intellectual property in a single financial year. Research and Development Companies were some of the hardest-hit and faced huge losses.

 

R&D Companies

 

The data that R&D companies work with is usually highly scientific and is painstakingly put together. The companies that invest and benefit a great deal due to their research and development are bio-technology companies, pharmaceuticals, space agencies, engineering and nano-technology companies. This should give one an idea of the value of the data involved. It is not data that can be easily recreated or bought. Without the data that is created, a company’s very foundation can be shaken. One cannot over-emphasise the importance of data in this sector.

 

Losing Data

 

There are several reasons why R&D companies could lose data. Human error occurs in every company, but because of the nature of data involved, R&D companies stand to lose much more. An employee who fails to back up information can be instrumental in data loss. Using official networks for personal use can expose work data to virus attacks apart from possible data theft.

 

Most global biotechnology companies rely on personal computers and laptops for their work. The greater the number of personal computers used, greater is the chance of data loss. If they are not covered well under a data protection umbrella, data loss is almost a certainty.

 

In fact, a company discovered a bug in the new versions of a particular operating system. This bug, under unusual circumstances, could cause systems to drop data. Until it happens for the first time, a company may not be suitably protected against such a bug. Therefore, the data loss that occurs can leave a company grappling in its aftermath.

 

Cyber terrorism is a phenomenon that is on the rise. R&D Companies usually are the pulse of overall development in any country. Therefore, terrorists strive to attack these companies in an effort to cause upheaval in a particular country. 49% of the companies, who were invaded by terrorism, happened to be R&D companies.

 

The Internet is a great threat to companies involved in research and development. If data is exchanged online without being encrypted, it is a sitting duck for hackers on the prowl.

 

Data Protection and Recovery

 

R&D companies cannot afford to be lax in their security measures to prevent data loss. Since R&D companies tend to be secretive about data loss, other R&D companies are unaware of what could happen. If they shared information about losses, it would be easier to formulate a more uniform foolproof plan.

 

These companies have to centralise their reporting systems so that comprehensive data can be gathered. The highest possible security measures have to be installed within the company.

 

In the event of data loss that is highly confidential, most R&D companies call in private forensic experts. These investigators try to trace the data loss and then carry out a painstaking recovery process.

 

Conclusion

 

Research and Development is the touchstone of progress. Without this sector, we would remain in the dark ages or at least develop at a very slow rate. The critical data that comes out of these centres, cannot afford to be lost. While the large Corporations understand this and invest heavily in data protection, there is always a new threat that catches them completely unprepared

Article Source: http://www.theukarticledirectory.co.uk