If a burglar broke into your home, you might be motivated to install a security system. The same goes for downtime. Every year, downtime robs companies of thousands, if not millions of dollars, and in this day and age, with more and more businesses moving to the cloud, the issue of downtime is becoming a bigger problem. This past Monday, the International Working Group on Cloud Computing Resiliency reported that since 2007, a total of 568 hours of downtime at 13 large cloud service providers have caused an economic impact of more than $71.7 million.
Throughout the course of any given week, a wide variety of businesses are impacted by planned and unplanned downtime. While industry type may vary, the consequences do not. It’s shocking to see how many businesses are robbed by downtime. Yet, they don’t seem to grasp the detrimental effects of an outage. Stratus has conducted surveys with ITIC that have found most businesses don’t adequately calculate the cost and affects that an outage will have on their business, whether it be qualitative or quantitative.
The following results from our latest survey illustrates why some businesses don’t know how much downtime actually steals from them:
- 29 percent of businesses don’t consider customer dissatisfaction as a contributing factor to their cost of IT downtime.
- 38 percent of businesses don’t factor in damage to their company’s reputation.
- 81 percent of businesses omit goods and materials lost from their cost of IT downtime calculations.
- 45 percent of businesses don’t consider lost sales in downtime cost.
It’s time to put a face to downtime so companies recognize why they need to take action. And speaking of action, I’ll leave you with this statistic: last year Stratus had an average of just 81 seconds of downtime across our installed base of 8,000 servers.
To learn more about how much downtime cost your business read our latest analyst report.