Hourly Cost of Downtime - ITIC 2024 Hourly Cost of Downtime Survey Results ( SRE)
In preparation for its performance at the Positive Hack Days conference in Luzhniki, came across a short report 2024 About the cost of an hour of downtime from ITIC. Since I first heard about this company, I decided to check how much I could trust the company, the author of the report and the report itself. The company is an independent and research consulting firm based in 2002 This year, which specializes in primary research on a wide range of technology topics for vendors and corporate clients. The author of the study is Laura DiDio (Laura DiDio)more 25 Years of experience in high technology The research itself can be trusted because it is 11 an annual report conducted as an independent web study, in which more 1000 Companies around the world since November 2023 March 2024 years. And the study involved companies of different sizes: 27% were small/medium-sized enterprises (before 200 user), 28% - medium-sized enterprises (201-1000 user)and 45% - Large enterprises (more 1000 user).
**The main results of the study are:
- Increased cost of downtime** The study shows that the cost of downtime continues to rise. The average cost of one hour of downtime is now
- exceeds $300k for more than 90% of medium and large enterprises
- exceeds $1mln for 41percent But these are average estimates of the cost of failures, and in the worst cases (ala in catastrophic failures) Losses can multiply. These figures do not include the cost of litigation, fines or civil or criminal sanctions related to regulatory violations. 2) Causes of downtime Security and human error are the main culprits of downtime. According to the survey, 84Percentage of respondents cited security issues as the main cause of downtime, followed by human error (69%) and programmatic deficiencies (65%). 3)Accessibility requirements Survey data show that 90Percentage of organizations now require minimum availability 99,99% (The so-called "four nines"). These are quite stringent requirements that squander less than an hour of inaccessibility per year.
The findings of the study are as follows: 1) Economic implications In our age of interconnected systems that work 24 on 7 Organizations of all sizes are not tolerant of failure. Downtime, even for a few minutes, causes business and productivity to stall, negatively impacts reliability and safety, and exposes companies to higher risk of regulatory compliance, as well as civil and even criminal penalties. 2) For regulated industriesSuch as banking and finance, energy, government, healthcare, hospitality, manufacturing, media and communications, retail, transportation and utilities, the potential losses associated with litigation should be considered. For individual organizations whose business is data intensive, such as stock exchanges, losses can run into millions of dollars per minute. 3) For small and medium-sized businesses, downtime costs are not that large, but they typically do not have their corporate counterparts’ large budgets and reserves to cover financial losses or potential litigation related to downtime.
In summary, estimates from this report can be used as initial benchmarks for downtime costs. This can be especially useful if you need to argue the importance of working on the reliability of your systems until you have an accurate statistical model that will more accurately estimate the cost of downtime for your processes and your systems.
P.S. If you have similar reports worth studying, then throw them in the comments - I will study them carefully too.
#SRE #DevOps #Architecture #Software #Processes #Metrics #Engineering