That didn't work out for a group of nonprofit organizations. From The Register: Microsoft tells nonprofits their deleted M365 data isn't coming back
Microsoft accidentally wiped some nonprofit customers' M365 data before their retention period expired – and now says it cannot tell them what disappeared, or even whether they lost anything.
Microsoft was hosting data for a group of nonprofits subject to a grant. The grant ran out, so Microsoft gave a date by when the data needed to be moved. And then they deleted the data before that date. No backups available. Oops.
The problem arose after the subscriptions were deactivated. In an email to one affected customer seen by The Register, Microsoft admitted that, "due to an error," it had deleted remaining data before the retention and export window closed. Attempts to recover it had failed.
"We have now investigated the recovery options, but unfortunately, the data cannot be recovered," Microsoft said.
Professional management. Industry-leading process control. Or something.
If you have asked (or paid) someone to back up your data, how sure are you that it is backed up? How sure are you that you can get it back when you need it? How secure is it in the face of hackers? How sure are you that an accounting glitch won't cause it to be permanently deleted? What is you recourse it if is.
No one cares about your stuff as much as you do.
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