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Penny-Wise, Pound Foolish: When Price Doesn’t Matter
By: Donna Ray Berkelhammer. This was posted Thursday, August 12th, 2010
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Loading ...When we bought our house, a partially renovated REO property, I worked closely with our insurance agent to create an insurance policy based on the actual features of the house.
Tags: economy, penny-wise pound foolish, price, purchase, value
Data backup. Do you really want to backup your business data with a distant vendor who has the cheapest cost per gigabyte? A major storage vendor – let’s say it starts with “C” and ends with “arbonite” – has agressive marketing campaigns no longer just targeting consumers but also targeting businesses with their cheap backup “solution.” What they neglect to offer is complete information about how long the restoration process will take if you have more than a few gigabytes of you business data stored offsite with them. Assuming you have standard business-class Internet, you can probably download 10GB or so per day. If you’ve managed to get 40 or 50 GB stored offsite with them over a (long) period of time, then a complete restoration of your data in an emergency situation will take almost a week. If your business can afford that much downtime, then congrats, you saved money. Most businesses, however, will struggle with how saving those pennies is now costing them pounds and pounds.
Posted by: Joel | August 13th, 2010 at 5:05 pm