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For years, we have seen data transform businesses, create new industries, and serve as the catalyst for business growth and new opportunities. According to ESG research, 59% of businesses identify that at least some portion of their revenue is derived from information-based products and services.

It can be easy to think, “That sounds horrible! But it probably won’t happen to me.” From getting into a fender bender, to spilling ketchup on your new white shirt, to… ransomware attacks. Believing ransomware attacks will only happen to “somebody else” can put your organization at a huge risk. On a much larger scale than buying car insurance or bringing an extra shirt, taking precautions against ransomware attacks can save your organization millions of dollars, as well as employee confidence, customer trust, and more.

Effectively addressing national emergencies and times of crisis has always required private and public sector collaboration. The most recent and obvious example being the development and delivery of COVID-19 vaccines. And like COVID-19, ransomware attacks cross borders, necessitating a coordinated national and international response by government agencies and technology leaders.

With ransomware a top security concern for most cybersecurity teams, the cost of cybersecurity insurance is making its way into the annual budgeting process for CFOs around the globe. While ransomware is not a new cyber-threat, largely entering the cybersecurity scene in 2016 and 2017 with high-profile attacks, research conducted by ESG reveals that a majority of organizations continued to experience ransomware attacks in 2019, representing a concern for both business and IT leadership.[1]

In my predictions for 2020, I highlighted that tape is not going away any time soon. It's actually experiencing a renewal as it has become quite obvious to a whole new generation of IT professionals that it is a great medium for high-capacity and low-cost storage. 

The past few weeks in technology news have been particularly interesting…and alarming.

On the ransomware front, the city of Baltimore made first page May 7 for an attack that apparently could have been avoided by patching their Microsoft environment 2 years ago. With practices like this, it makes me wonder what their backup habits are/were…. It is reported that the city will incur a cost of 18 million between lost revenues and recovery or recreation efforts. Baltimore: Give me a call. I can set you up with great backup for a lot less! I know many vendors who could help.