Ransomware attacks and data loss were analyzed in a recent report by At-Bay. According to the report, 63% of organizations successfully restore their data when they experience a ransomware attack.

Despite 92% of businesses reporting having backups, more than 1 in 4 businesses (31%) fail to restore data from them during a ransomware attack. When backup solutions work, businesses are nearly 3X less likely to pay a ransom.

According to the report, successfully restoring data from backups reduces the overall cost of an incident by 41%. The cost of a ransomware claim is on average $190,000 greater for businesses who fail to successfully restore their data from a backup, compared to those that do.

Read the full report here.