93% of companies that lost their data center for 10 days or more due to a disaster filed for bankruptcy within one year of the disaster. 50% of businesses that found themselves without data management for this same time period filed for bankruptcy immediately. (National Archives & Records Administration in Washington) Companies that aren't able to resume operations within ten days (of a disaster hit) are not likely to survive. (Strategic Research Institute) U.S. businesses lose over $12 billion per year because of data loss. Hardware or system failure accounts for 78% of all data loss. Human error accounts for 11% of all data loss. Disaster prevention and recovery plans are often overlooked or outdated. Of those companies participating in the 2001 Cost of Downtime Survey: 46% said each hour of downtime would cost their companies up to $50k, 28% said each hour would cost between $51K and $250K, 18% said each hour would cost between $251K and $1 million, 8% said it would cost their companies more than $1million per hour. (Source: Ontrack - 2001 Cost of Downtime Survey Results, 2001)
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