Veeam Puts Hourly Downtime Cost at $85K
There's a new hourly metric for the cost of downtime -- $84,650.
That hyper-specific average comes from the new "Veeam Data Protection Report 2021" released Thursday. The report is based on a survey of 3,000 IT decision makers around the world.
Veeam's survey also found that the average downtime for an outage was 79 minutes.
The numbers are both better and worse than similar figures Veeam provided last year in its "Veeam 2020 Data Protection Trends Report." That survey of about 1,550 IT pros put the cost of downtime for high-priority applications at $67,651 per hour and found the average outage lasted for a more excruciating 117 minutes.
Veeam provides cloud data management solutions, of which backup and recovery components make up the core value proposition.
The 2021 report also digs a little deeper into IT professionals' perceptions of other negative impacts of downtime.
"The impact cannot be measured solely in costs per hour. There are many other potential downsides to outages," the 32-page report states.
In descending order of response percentage, those other impacts included loss of customer confidence, damage to brand integrity, loss of employee confidence, diversion of resources from long-term or business-critical projects, reduced stock price, subject to legal action and revocation of licenses or accreditations.
Major themes of the 2021 report included changing rates of digital transformation spending, with some sectors accelerating projects while others halted them; significant backup and recovery failure rates; and a significant shift toward cloud-based backup.
The full report is available here (registration required).
Posted by Scott Bekker on March 18, 2021