1.1.12 Outline the consequences of data loss in a specified situation
"The side effects of data loss are hard to gauge", cautions Forrester's Jaquith. "There have been several studies on the negative impact on share prices for companies that have suffered a breach, but the results have been inconclusive. Certainly, when a company loses control over customer information it has custody of, it also suffers a loss of trust with its customers. The impact is greater with companies [where customers have] lower switching costs", he adds.
A loss of data by a bank, for example, may translate into chaotic situations at the bank branches. It will not be possible for people to indulge in very basic functions such as deposit and withdrawal of money.
In insurance companies, the effect of data loss will be equally devastating. It can wipe out the entire details regarding the company's customer base. People may not, in fact, most likely will not, be paid dividends on time. The salaries of the staff will get stuck and there may be no way of making any sense out of the entire mess. As most of the data regarding clientele is stored digitally on hard disk drives, if it is lost, then there may be no way of contacting the customers and informing them of both the problem and its implications.
Outline the consequences of data loss in the following situations
PowerSchool failure/ School grade reporting system failure
Cafeteria Point of Sale (POS) Management failure