Ever since we have entered the digital age a couple of decades ago, technology has advanced to a point where everything seems possible (read more). Maybe we’re not yet at a point to communicate through holograms and travel with hovercrafts but hey, you’ll see – we’ll get there eventually.
With the way things are going, the only direction left for the world to take is forward. It’s just going to evolve and evolve until we have reached the peak of digitalization. Whether that is for the best or not, we still don’t know. What we do know, however, is that technology is making our lives convenient for the most part. And we can see it keeping things that way for a long time.
One proof that technology largely operates this world is the emergence of online businesses and cyber companies. Check out the latest scoops here: https://thenextscoop.com/e-commerce-is-growing-at-an-unprecedented-rate-all-over-the-globe/. There are also companies who offer virtual products – commodities people buy that have no physical form whatsoever. Today, we will be exploring an example of these virtual products. We are going to tackle the world of software. What it is, what it is for, and why you should protect it if you own a company that produces such products.
For now, let’s just start with the most basic question: What is software?
What Is Software?
I know this sounds like a pretty trivial section since most of you, I presume, have encountered the term in one of your computer classes. This is basically elementary level tech class. For formality purposes, however, allow me to reiterate the meaning of software.
If you know your computers, you should be familiar with the terms hardware and software already. Hardware refers to the physical parts of the computer; those that are tangible. This includes the LCD monitor, the Central Processing Unit or CPU, the motherboard, the accessories, printers, and everything else that you can literally grab hold of. Now, software is the part devoid of any tangible properties. It’s something that you will never hold between your hands. These refer to raw data, programs, applications, and ultimately, operating systems like the world renowned Windows Company. Software is created through the integration and application of codes or binaries. They are programmed data devised to run computers. I guess you can say that hardware is the body of the computer while software is the soul. And just by going with that definition, you should know which matters most.
Physical devices can be replaced. Break your computer and you can still retain your data as long as you have a backup saved somewhere. You can simply replace the whole thing and transfer all the files you have backed up into the new unit. By doing that, you won’t lose sensitive information. Software, on the other hand, is non-physical. This means that if it breaks, it breaks big time. There is no going back. There is no way to reverse the process. This makes software extremely fragile; it is sensitive to even the subtlest intrusions and alterations.
This makes it very important to protect.
If you’re running a software company – meaning that you produce products with no physical qualities – it would be best to get a software company insurance. The costs of damages that may arise from unprecedented events are far graver when software is involved. It can ruin you and your company forever. In order to make sure that this kind of reality never hits you, you have to take all necessary precautions to keep all your work data safe and secure.
Getting insured is the only way to do it.
What Do Software Insurance Companies Do?
To put it simply, software insurance companies help protect your company data by backing up your entire system on their cloud database. They make sure that no matter what happens (e.g. getting hacked), all your company data is safely tucked away in some corner of this world. Cloud-based systems are probably the best when it comes to backing up data. This is thanks to the versatility and fail-proof operations of Cloud Computing.
To give you a brief idea of what the cloud is, you can think of it as a system that’s tangible and intangible at the same time. It’s tangible primarily because it still uses physical servers to store data and at the same time intangible because there is no known way to fully obliterate the data from servers. This means that even if a meteorite suddenly crashes into a factory of cloud servers (which we refer to as “server farms” by the way), all the sensitive information about your company will not be erased. This is made possible through “redundancy.” The method Cloud initiates during data upload.
What happens is that through redundancy, your data is copied limitlessly across dozens of server farms spread all around the world. In fact, cloud-based insurance companies are building more farms as we speak. So even if a whole farm’s worth of data is obliterated through natural or forced means, the lost data may still be retrieved at any given time from other server farms. I know that you’re probably thinking that whoever thought of this was a complete genius. Well, they are.
Anyway, that’s about it. If you’re dealing with a business that largely involves visual and organic data like software development, you should really get the company insured. It’s for the best, I tell you.