What is an example of a significant risk in data management?

Inadequate data backup solutions represent a significant risk in data management because they can lead to severe consequences in the event of data loss. Without proper backups, organizations expose themselves to the potential of losing critical information due to hardware failures, cyberattacks, accidental deletions, or natural disasters. This loss can disrupt business operations, damage customer relationships, and result in significant financial costs.

Effective data management strategies prioritize robust backup solutions to safeguard against these threats, ensuring that data can be restored quickly and effectively when needed. This not only protects the organization's assets but also aids in compliance with legal and regulatory requirements regarding data protection and availability.