For many companies, storing data on-premises has become a thing of the past. Cloud technologies make it easy to securely store data in the cloud, without the need physical storage for physical storage.
This can have many benefits for your business. Deployment is much simpler and managing these systems much easier, and files can be more easily shared between users, improving productivity.
But the move to the cloud has meant that businesses have lost some control over where their data is stored.
Does It Matter Where Company Data Is Stored?
There are many legal regulations which mean that it’s hugely important for companies to know where their data is. Most recently, and most importantly, is GDPR.
These wide-ranging laws mean that companies have to keep careful tabs on their data and how it is stored.
In other countries, there are also important regulations. In Australia for example, regulations dictate certain data has to be stored in Australia.
What Can Happen If You Experience Data Loss?
Research indicates losing data can have some devastating consequences for businesses. Symantec found that in the UK, businesses on average have to pay £1.9 million a year for every instance of data loss they experience.
The British Chambers of Commerce found that 93% of companies that suffer data loss for more than ten days file for bankruptcy.
Data loss is not only costly, but it can also be damaging to a brand. Consumers quickly lose trust in brands that they don’t think are doing enough to protect their data.
It’s clear then that companies must have a range of security systems in place to secure and back up their data. But it’s also your responsibility to know where these hosted providers store their data.
How To Stay Control Of Your Data
When looking for cloud technologies, data policies and privacy measures are hugely important. Credible cloud providers will have spent a lot of time creating accessible privacy documents and GDPR statements because they know how important data security is to businesses of all sizes.
If a service is hosting your corporate data in the cloud, it’s important to know where it’s going to be stored physically. A report recently ranked the top fifteen safest countries to store data. These are countries where it’s statistically least likely your data will be at risk, with Switzerland and Singapore at the top. Canada has become a popular choice for storing data due to paranoia about US government data surveillance. Many companies though, simply want their data held nationally rather than overseas.
Larger cloud based providers will have multiple data centers around the world. They offer businesses the choice of where they would like their data to be stored. This is a good step toward keeping in control of your business’s data.