The importance of proper daily backups and why a single-tape backup strategy is an invitation to disaster.
Many failures result in the complete loss of the data.
A fire or flood could damage the equipment to the point where data is lost. A software or user error could delete data files. We normally take precautions to prevent these problems. We use RAID to minimize the impact of a single lost drive. We install uninterruptible power supplies and surge protection to minimize the effects of electrical transients.