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Casual Articles - Dreadful Numbers Of Downtime Costs
Lots of theories out there about public relations.Everything from “publicity’s the thing!,” “the care and feeding of reputations and “sales support is primary” to “gain and hold public acceptance,” and “issue management’s the thing.” among many, many others.But for business, non-profit and association managers, the big, bang theory of public relations trumps them all when it alters individual perception leading to changed behaviors among their key outside audiences, thus helping them achieve their managerial objectives.As a manager, you can do exactly the same by doing something positive about the behaviors of those important external audiences of yours that MOST affect your operation.In particular when
High availability is one area of IT where the cost of each "nine" can, and must be weighed against the costs of downtime. For some companies, a 10-minute outage may be acceptable; for others, it can be disastrous.
According to nextslm.org as well, downtime costs are higher in the finance industry. Finance had twice the percent of sites
Putting together a good web site can be a difficult process for those who don't understand the ins and the outs of the process. When it comes to creating a really good site, every step of the process is very important. But, perhaps the most important step is the domain search itself.Getting a good domain name is very important to the success of any site. A solid domain search prior to creating the site can really help in getting a name that's ideal for your purposes. As you do a domain search, you'll want to check on domain names that fit your business, follow the brand name of your product, use your name and so on.Some of the best domain names found in domain searches reflect:* A company's own personal name. This is a great w
Website downtime leads to lost business and generates customer dissatisfaction; many studies have shown over the years. Downtime can be a minor inconvenience or a major cause for concern. For example, a person may be less upset about being unable to access an on-line store than about being unable to log into a bank or brokerage account to make a financial transaction.
Although downtime is quite common in IT. In fact the downtime is planned in up to 80% of all cases. The rest 20% of all downtimes is unplanned and causes the mentioned damages. The table below shows the proportion of factors which lead to planned and unplanned downtime.
Planned downtime
Backup.......................56%
Software upgrades.....14%
Hardware upgrades....12%
System admin...............8%
Recovery......................7%
Production test.............2%
Other............................1%
Unplanned Downtime
Employee error...........43%
Application error.........20%
Operations overrun.....15%
System errors.............11%
Hardware failures.........8%
Utility failures................2%
Disasters......................1%
Infonetics recently surveyed 230 companies (each with more than 1,000 employees) in five different verticals and found that some are affected more than others.
The finance and manufacturing verticals are suffering from downtime the most, it costs an average financial institution 16% of its annual revenue, or $222 million, and manufacturers are losing an average of 9% of their annual revenue.
On the other hand, companies in the health care and transportation/logistics verticals typically fare much better. These verticals have a fairly low percentage of the workforce connected to the network. The transportation and logistics market fares the best of the verticals studied, losing just 2 percent of annual revenue to downtime, but that’s still an average of $32 million a year.
High availability is one area of IT where the cost of each "nine" can, and must be weighed against the costs of downtime. For some companies, a 10-minute outage may be acceptable; for others, it can be disastrous.
According to nextslm.org as well, downtime costs are higher in the finance industry. Finance had twice the percent of sites
What are the benefits of using a Freelance Consultant / Trainer for your next project?Companies are often wary of employing freelance trainers when setting up a new project or contemplating a 'roll out' operation or ‘change’ scenario. There are however distinct advantages to using freelance as against permanent resources, and some of these are outlined as follows.1. Financial Although the initial costs (hourly/daily rate) of freelance trainers may seem expensive, this has to be set against the fact that there are no costs of in house benefit packages, no pensions commitment, no payment for holidays or sick time etc. Also, the cost is fixed, purely for the term of the contract, and can be budgeted into the overall project. Once
Although downtime is quite common in IT. In fact the downtime is planned in up to 80% of all cases. The rest 20% of all downtimes is unplanned and causes the mentioned damages. The table below shows the proportion of factors which lead to planned and unplanned downtime.
Planned downtime
Backup.......................56%
Software upgrades.....14%
Hardware upgrades....12%
System admin...............8%
Recovery......................7%
Production test.............2%
Other............................1%
Unplanned Downtime
Employee error...........43%
Application error.........20%
Operations overrun.....15%
System errors.............11%
Hardware failures.........8%
Utility failures................2%
Disasters......................1%
Infonetics recently surveyed 230 companies (each with more than 1,000 employees) in five different verticals and found that some are affected more than others.
The finance and manufacturing verticals are suffering from downtime the most, it costs an average financial institution 16% of its annual revenue, or $222 million, and manufacturers are losing an average of 9% of their annual revenue.
On the other hand, companies in the health care and transportation/logistics verticals typically fare much better. These verticals have a fairly low percentage of the workforce connected to the network. The transportation and logistics market fares the best of the verticals studied, losing just 2 percent of annual revenue to downtime, but that’s still an average of $32 million a year.
High availability is one area of IT where the cost of each "nine" can, and must be weighed against the costs of downtime. For some companies, a 10-minute outage may be acceptable; for others, it can be disastrous.
According to nextslm.org as well, downtime costs are higher in the finance industry. Finance had twice the percent of sites
Have you ever seen someone without a strong opinion on anything? These people usually go through life getting swayed by other people's opinion and let others push them around. Unfortunately there are too many people who want to start an internet business are indecisive and that's what is killing their chances for success online and off…Let's say that you go to a casino and gamble on the roulette tables. And let's say you put $1000 on red. Once the roulette table starts spinning, what does your mind instantly do? It puts unnecessary stress (possibly excitement) onto your body and you worry and wonder for those few seconds, where the ball will land on.But for those few seconds, does worrying and putting further stress on your body
System admin...............8%
Recovery......................7%
Production test.............2%
Other............................1%
Unplanned Downtime
Employee error...........43%
Application error.........20%
Operations overrun.....15%
System errors.............11%
Hardware failures.........8%
Utility failures................2%
Disasters......................1%
Infonetics recently surveyed 230 companies (each with more than 1,000 employees) in five different verticals and found that some are affected more than others.
The finance and manufacturing verticals are suffering from downtime the most, it costs an average financial institution 16% of its annual revenue, or $222 million, and manufacturers are losing an average of 9% of their annual revenue.
On the other hand, companies in the health care and transportation/logistics verticals typically fare much better. These verticals have a fairly low percentage of the workforce connected to the network. The transportation and logistics market fares the best of the verticals studied, losing just 2 percent of annual revenue to downtime, but that’s still an average of $32 million a year.
High availability is one area of IT where the cost of each "nine" can, and must be weighed against the costs of downtime. For some companies, a 10-minute outage may be acceptable; for others, it can be disastrous.
According to nextslm.org as well, downtime costs are higher in the finance industry. Finance had twice the percent of sites
What if there were no Franchised Brands? What if none existed? Some believe that might be better, yet others point to the fact that there would be less choice and fewer small businesses. Did you know on this particular point of contention that there are 450,000 or more franchised outlets in the United States? That means a lot of small business owners who may not have had the expertise or know-how to go into business for them selves, now enjoy their American Dream of being self-employed. You can find lists of franchised outlets available if you want to own one;www.Franchising.orgThe failure rates of franchised outlets over the normal small businesses are said to be reduced because franchises come with a proven way to do business, whic
The finance and manufacturing verticals are suffering from downtime the most, it costs an average financial institution 16% of its annual revenue, or $222 million, and manufacturers are losing an average of 9% of their annual revenue.
On the other hand, companies in the health care and transportation/logistics verticals typically fare much better. These verticals have a fairly low percentage of the workforce connected to the network. The transportation and logistics market fares the best of the verticals studied, losing just 2 percent of annual revenue to downtime, but that’s still an average of $32 million a year.
High availability is one area of IT where the cost of each "nine" can, and must be weighed against the costs of downtime. For some companies, a 10-minute outage may be acceptable; for others, it can be disastrous.
According to nextslm.org as well, downtime costs are higher in the finance industry. Finance had twice the percent of sites
Every Christian CEO or business owner needs a tool box to use as he or she leads their company for Jesus Christ. Some of these tools may be bibles, tracts, booklets, cards, grief kits, or character training materials. I believe that one of the primary tools that are needed in every CEO’s tool box is a corporate chaplain program. In our distribution firm that operated across the country, we used a corporate chaplain service for 17 years. Hundreds of lives were affected by that service to our employees. I now have a minority interest in a manufacturing firm, and we recently hired a chaplain service. Within the first few weeks one of the employees lost his mom. He had no church home, no one to turn to, and no one to do the funeral grave side service.
High availability is one area of IT where the cost of each "nine" can, and must be weighed against the costs of downtime. For some companies, a 10-minute outage may be acceptable; for others, it can be disastrous.
According to nextslm.org as well, downtime costs are higher in the finance industry. Finance had twice the percent of sites with downtime cost greater than $100,000 per hour than other industries (53.2% versus 26.3%). In addition, 16.7% of Finance sites had downtime cost greater than $400,000 per hour, compared to 4.6% for other businesses.
In the case of banks, especially those with on-line applications, system downtime can severely affect their business and competitive advantage. If the website is down or too slow, customers are unable access their bank accounts, pay bills, and other services commonly used on-line.
Website performance is a critical and underrated component of web marketing and e-commerce. It does not matter how well you design and market your site unless it delivers. Who has not abandoned a website because of slow page load? Yet, according to standard monitoring of availability, those incidents do not count. In 2001, Zona Research reported that 30% of surfers would abandon a website if it took more than eight seconds to load, creating the widely quoted "eight-second" standard. Four years have cut that safety margin in half. “The wait becomes frustrating for most Internet users after about four seconds,” according to an article in InternetRetailer. Patience is waning as more shoppers become accustomed to quicker broadband connections.
Assuming that 30% of surfers abandon a site that takes more than 4 seconds to load we should add the percentage of those page loads to the downtime percentage. If we multiply this sum by average sales, we will get the real impact of site performance problems on revenues.
If customers become frustrated with a website's performance and leave without completing the transaction, the effect is the same as if the site went dark: the e-shop loses revenue and customers.
While the downtime cost for catalog sales and airline reservations may fall below $100.000 an hour, the downtime cost for some financial institutions is estimated between $60,000 and $250,000 a minute! The averaging of data from a number of analyst firms reveals downtime costs between $3.6 million and $15 million per hour across several industries. These are big numbers. Some analysts even estimate that US business lost over $9 billion do
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