Date Added: Jul 2009
According to a recently conducted study, computer data loss may have major consequences for companies. The study shows that pursuant to computer data loss, 43 percent companies never open up, whereas 51 percent shut their gates within two yeasts of data loss. The long term survival rate for data loss victim companies is at measly 6 percent. This paper seeks to study the importance of existence of a Business Continuity Planning (BCP) strategy. It also specifically focuses on the requirements of this system for small and medium-sized businesses. The paper further delves into the various roadblocks peculiar to the small and medium-sized business, since these companies do not have the muscle power to weather the loss caused by such data disasters. The paper also studies the scope of data loss. It concludes that the data loss may include instances ranging from loss of data to the loss of entire company's records. It then discusses the range of solution which is already available for the companies. It makes a critical evaluation of these solutions. The paper then elaborately discusses the utility of BCP for small and medium size businesses. BCP provides a roadmap of recovery for the companies dealing with data loss disaster.