SevOne Urges Caution as Cost of Downtime Reaches £80,500 per Hour
London, UK, August 28 2014 -SevOne, the leader in providing scalable performance monitoring solutions to the world’s most connected companies, warns that with the price of downtime per hour rising by 38% from £50,000 to £80,500 since 2010, businesses are facing a fight not only to stay online, but also to stay in business.
Jack Sweeney, CEO of SevOne comments “We live in a 24/7 connected world and for users, it is highly frustrating when websites are unavailable. However, for businesses, this not only represents a loss of control and a loss of earnings, but potentially reputational damage. Without performance management tools, businesses are unnecessarily exposing themselves to risk.”
In 2012, Amazon lost $1,104 every second it was down, whilst it has been reported that 59% of Fortune 500 companies suffer from at least 1.6 hours of downtime per week, equating to an average weekly loss of £128,800. This not only has financial consequences but also affects staff productivity and can damage a brands reputation; Google’s recent outage was covered by hundreds of news outlets with many users switching to rival services for the duration.
Sweeney concludes, “Technology should be providing the answers without the need for manual intervention. Technical staff cannot be expected to act quickly enough to predict outages without support, and while the likes of Amazon can recover from issues like this, smaller organisations can’t and that is why they must take steps to protect themselves.
“The deployment of solutions which log data and provide real-time analytics on large volumes of unstructured data are crucial to the IT department. Through this, employees are able to gain a better understanding into the behaviour of users, customers, applications and networks, allowing businesses to spot issues before they happen – significantly reducing, or in some cases, eliminating downtime altogether.”