The most important aspect of nearly every network is availability. Performance, scalability, management, agility, etc. all require the network to actually be online.
Network downtime and latency cause a lot more than groans from unhappy and unproductive employees. They costs businesses hundreds of thousands of dollars every year and are often to blame for damaged reputations.
The study of US data centers quantifies the average cost of an unplanned data center outage at slightly more than $7,900 per minute. This is a 41% increase from the $5,600 it was in 2010.
Ponomon Institute: Cost of Datacenter Outages
On average, businesses lose between $84,000 and $108,000 for every hour of IT system downtime, according to estimates from studies and surveys performed by IT industry analyst firms. In addition, financial services, telecommunications, manufacturing and energy lead the list of industries with a high rate of revenue loss during IT downtime.
Network Computing, the Meta Group and Contingency Planning Research: Accessing the Financial Impact of Downtime
Over 95% of large enterprises with more than 1000 employees say that on average, a single hour of downtime per year costs their company over $100,000, over 50% say the cost exceeds $300,000 and one in 10 indicate hourly downtime costs their firms $1 million or more annually.
For a select three percent of organizations, whose businesses are based on high-level data transactions, like banks and stock exchanges, online retail sales or even utility firms, losses may be calculated in millions of dollars per minute.
ITIC’s 2013-2014 Technology Trends and Deployment Survey
And, not all of it is about dollars. Downtime costs your business its reputation, customer retention, employee satisfaction and overall confidence can be shaken by even a short outage.
Before you experience an outage, take the time to understand your impact of downtime, so you make sure to invest the resources to prevent downtime. Here is a list of inputs to an impact of downtime calculation:
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