Your business cannot survive if you lose your data. Period.
You can replace buildings, office furniture, and hardware, but you cannot replace years of intellectual data, accounting information, and digital assets. Unfortunately, you have numerous threats that can wipe your data from natural disasters, human error, and cyber-attacks. Yet, the biggest threat to your data is a hardware failure.
You can diminish the impact of a hardware failure with proper lifecycle management, meaning proactively replacing hardware before it becomes a problem. Even if new equipment fails or human error effects your production data, you should have your data stored in three locations – onsite, offsite, and onsite as read-only files.
Also, make sure your backups actually work and ask for a verification report because most IT professionals rely on an email to say the backups work. It may take weeks before someone realizes he or she has not received an email because the backups are not working. Who misses an email that comes in routinely every day? These emails are easy to miss, yet that lack of verification can cost you dearly.
Data protection is not something you can take lightly because even a small breach can damage your reputation and if you are without your data, even for just a few days, it can make it near impossible to come back from successfully.
Also, many industries require business follow standards of data protection to be compliant including HIPAA compliancy assessments for medical practices and PCI-DSS compliancy assessments for businesses that take credit cards.