How much!? The cost of Critical IT Events across EMEA.
The answer to the question in the title is 115,034 euros. Not only that but the average EMEA organization has three of them a month. To make that even worse – 65% of those events lead to reputational damage and financial loss. Help is at hand – we’ve built you a tool to help measure the cost of your outages and how to start minimizing them(see below).
We’ve all experienced a Critical IT Event – either managing or fixing one as a technology professional or experiencing it as a consumer (a website crashing, not being able to make a payment, can’t get email on your phone, etc.). You know it by the infamous 404 error, “service not available” or the call from someone to say “something’s wrong with system…”. We’ve just published our latest research with EMEA analysts Quocirca into the cost of Critical IT Events across EMEA. Quocirca surveyed nearly 400 organizations in the UK, Germany, France, Sweden and The Netherlands and there are some revealing headlines:
• The average number of CIEs across those 400 EMEA organisations is 3
• The average cost of a CIE is 115,000 euros
• Of that 115,000, 88k is cost to the business and 27k is cost to IT
• The industry with the highest cost per CIE is telco, followed by gaming and then financial services
• 65% of CIEs cause reputational damage and impact bottom line by incurring financial cost.
• For the first time in 3 years of research – downtime replaced security as top concern for IT management
• 86% of organisations use SaaS, 80% use IaaS
• 94% still use on-premises as primary or secondary way of deploying IT
• Average mean time to repair (MTTR) a CIE is 6.8 hours
• Time to Root Cause Analysis (RCA) is 12.4 hours
It takes about three minutes to complete and asks you five simple questions and you get a personalized report that tells you:
• How much your CIEs cost you per year based on your answers and the research we conducted.
• How you rank vs. the organisations who took part in the research
• An example of another organization in your industry that are using their machine data to help reduce the impact of their outages.
If you’d like to dive into a bit more detail then the full report is available now.
We’re also running a webinar at 10:00am UK time (11:00am European) on Tuesday 22nd November where Quocirca will be talking about the research and I’ll be showing some real life examples of how organizations are mitigating the impact of their CIEs by using Operational Intelligence.
Enjoy using the calculator or looking at the infographic and report. Hopefully see you on the webinar in a few weeks.
Master of Machines III Infographic
Critical IT Events Cost the Average European Business Millions of Pounds/Euros Per Year
Masters of Machines III: Mitigating the Impact of Critical IT Events Report