Most business owners expect to face an IT failure at some point in their enterprise career. But, while these dreaded spells of down time have come to be considered an inevitability since the invention of the internet, that’s not to say they’re not a terrifying prospect for any self-respecting business person. The effects of a system failure can lead not only to catastrophic financial loss, but to a damaged reputation and a break in customer faith. In fact, downtime costs an enterprise an average of $686,000 per hour, with the average loss of revenue per year sitting at a stomach-churning $26 billion.
With 18% of firms saying that IT outages had a “very damaging” impact on their reputation, it’s clear that the knock-on effect of downtime can carry serious implications for enterprises both imminently and into the foreseeable future. But because there’s no single cause of an IT failure, it’s next to impossible to prevent this kind of thing from happening. Having said that, a large proportion of downtime is caused by things like poorly deployed patches. With this in mind, it’s vital for business owners to do their research and take the necessary measures that are within their power to reduce the likelihood of downtime.
Of course, it’s not all about prevention. Damage control is everything when it comes to reducing the negative impact of downtime, as can be seen when looking at statistics relating to how best-in-class firms handle things compared to the industry average. For example, best-in-class firms report an average of 90% less downtime per event, and 78% faster recovery time from these events – an average of just 12 minutes.
But what are they doing right? Firstly, statistics show they’re 68% more likely to test their disaster recovery capabilities regularly. And they’re 42% more likely to determine recovery point objective (RPO) per application and 32% more likely to review high availability technologies. Plus they’re 22% more likely to assess their high availability processes and procedures.
It’s clear, then, that businesses really do need to be vigilant when it comes to preventing and dealing with downtime. If it helps stop them from losing precious data, valued customers and a hard-earned reputation, it’s obvious that this extra attention to detail will be worth every penny.
(Infographic source: Sungard Availability Services)
By Glenn Blake