Business continuity is an important concept for any business, large or small. It is the process of ensuring that a business can continue to operate in the event of a disruption or disaster. With the increasing complexity of businesses and the ever-changing nature of the global economy, it is essential that businesses have a plan in place to ensure their continued success.
In this blog post, we will explore some of the most important business continuity statistics. We will look at the prevalence of business continuity plans, the costs associated with disruptions, and the benefits of having a plan in place. We will also discuss the importance of regularly testing and updating business continuity plans to ensure they remain effective. Finally, we will look at the impact of business continuity on customer satisfaction and loyalty.
Business Continuity: The Most Important Statistics
Less than 20% of B2B e-commerce companies in Scandinavia regularly collect and analyze data, and only 16% use the data to inform strategic decisions.
One in four Japanese enterprises prioritize sustainable procurement and corporate compliance when procuring materials, goods, and services.
Business Continuity Statistics Overview
8.2% of Canadian and 9.1% of American business owners sold, shut down, or stopped being responsible for their business in 2022.
The majority of retail sector companies operating grocery stores and supermarkets in Finland were relatively certain about their future in April 2020. Companies in the specialty and department store sector and wholesale companies were more affected by the uncertainty caused by the coronavirus outbreak.
35% of organizations in India invested in cybersecurity measures, but only 25% reported benefits.
This highlights the need for organizations to simplify their processes to ensure they are able to benefit from their investments in cybersecurity and maintain business continuity.
65% of global survey respondents are aggressively pursuing automation to modernize legacy business practices.
Automation can help streamline processes and make them more efficient. This can help businesses reduce costs and improve their ability to respond to unexpected events. Additionally, it can assist businesses in becoming more resilient and better prepared for future disruptions. With automation, businesses can also better manage their data and ensure that it is secure and compliant with regulations.
63% of respondents indicated hybrid and/or multicloud technology will result in more efficient use of resources and increased ability to adapt to modern systems.
It exhibits that hybrid and/or multicloud technology can help businesses become more efficient and better able to adapt to changing systems.
In 2022, 33% of respondents used multi-cloud to guarantee availability, while 21% did not believe application workloads would ever be free to move across clouds.
This provides an indication of the primary driver for multiple cloud adoption in organizations from 2019 to 2022. It also highlights the importance of having the ability to move application workloads across clouds in order to ensure availability and business continuity.
30% of Danish manufacturing companies sold their products or services through digital channels in 2020.
Digital channels are becoming increasingly popular for B2B sales, which can help businesses remain resilient and adaptable in the face of changing market conditions.
Less than 20% of B2B e-commerce companies in Scandinavia regularly collect and analyze data, and only 16% use the data to inform strategic decisions.
Without data analysis, companies are unable to make informed decisions, which can lead to a lack of preparedness in the event of a crisis. Furthermore, it can be used to identify potential risks and develop strategies to mitigate them, which is essential for business continuity.
In 2022, 80% of US SMEs found speaking to e-commerce experts to be at least somewhat helpful.
Thus, SMEs are increasingly relying on e-commerce experts for advice and guidance, which indicates that businesses are recognizing the importance of digital transformation and the need to stay up-to-date with the latest technologies and trends in order to remain competitive. As such, having access to e-commerce expertise can be a valuable asset for businesses looking to ensure their continuity in the future.
One in four Japanese enterprises prioritize sustainable procurement and corporate compliance when procuring materials, goods, and services.
This highlights the growing importance of sustainability in Japanese businesses. As businesses become more aware of their environmental and social impact, they are increasingly prioritizing sustainable procurement and corporate compliance when making purchasing decisions.
Conclusion
Business continuity is an important part of any organization’s operations, and the statistics presented in this blog post demonstrate just how vital it is. Organizations that have a business continuity plan in place are better prepared to handle unexpected events, and they are more likely to survive a disaster.
By investing in business continuity, organizations can ensure that their operations remain uninterrupted and that their customers remain satisfied. Business continuity is an important part of any organization’s operations, and it should not be overlooked.
References
1 – https://www.statista.com/statistics/315610/the-rate-of-business-discontinuance-in-north-america/
2 – https://www.statista.com/statistics/1110720/future-prospects-of-retail-sector-companies-due-to-the-coronavirus-in-finland-by-sector/
3 – https://www.statista.com/statistics/1349755/india-cybersecurity-investment-priorities-by-type/
4 – https://www.statista.com/statistics/1234680/pandemic-operational-business-strategies/
5 – https://www.statista.com/statistics/1332016/business-outcome-hybrid-multicloud-usage-worldwide/
6 – https://www.statista.com/statistics/1324077/multicloud-adoption-incentive-worldwide/
7 – https://www.statista.com/statistics/663559/usage-of-digital-sales-channels-for-b2b-sales-in-denmark/
8 – https://www.statista.com/statistics/1248173/data-use-among-b2b-e-commerce-companies-scandinavia/
9 – https://www.statista.com/statistics/1321628/importance-ecommerce-expertise-small-midsize-businesses-united-states/
10 – https://www.statista.com/statistics/1052405/japan-important-aspect-procurement-enterprises-by-size/
