The problem with data loss is that we are all aware of its existence, but none of us cares to think about it until it hits us really badly. General notions on data protection and prevention of data loss are still faulty and hazy, mixed with fact and fiction. There is a general myth, for example, that hard disks can last for generations, so all data is safe once put on a disk. The truth is that no hard disk company will give guarantee for their product for more than five years.

Data loss is a serious matter. Before we discuss its consequences for individuals or companies, we need to get a few basics cleared.

Data loss from any digital storage media happens in mainly two ways ? physical and logical ? indicating loss through hardware and software issues respectively.

But not all those who use data are equally affected by losing it. These are some of the factors on which the consequences of data loss will depend.

The pattern of individual usage of data has changed drastically over the past few years. The consequences of data loss for home users would depend on the factors mentioned above. Another additional factor that would come into force here is budget. While you may feel really sad for the pen drive that is not working and has your music collection, you may not be able to afford the software required to remedy this. Physical loss of data for home users usually spells doom.

The loss of data can be bad for a company to the point of being a fatal blow according to its dependency on the data lost. The worst part is that small companies often do not have adequate data security because they can't afford the cost that will be incurred by them in setting up the elaborate backups, security methods, tracking systems, and anti-virus software that protect a big empire. So, when the data loss happens, they end up shelling out more than these measures would have cost. In fact, many businesses have shut shop after data loss. Besides, loss of reputation and bad press are other consequences of corporate data loss.