Average European firm loses £3M per year from critical IT events


The average European organisation loses more than £3 million of pounds every year from 36 critical IT events, according to a new study.

A critical IT event occurs when a business application or infrastructure is down or has a malfunction. This results in a business process being halted, or users left unable to reasonably carry out tasks and transactions.

The study, commissioned by Splunk and conducted by analyst firm Quocirca, found that each critical IT events costs on average £88,488 – and the average European organisations suffers three per month.

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“As IT complexity grows, critical IT events are inevitable in all organisations,” said Bob Tarzey, analyst, Quocirca, which has tracked IT management concerns since 2013. “The sooner critical IT events are dealt with and lessons learnt, the sooner IT staff can stop firefighting and return to delivering value.”

>See Also: Tech Events Diary

For the first time since Quocirca began conducting the research, downtime is the top IT concern for European IT management – replacing security, which moves into second place.

These concerns are driven by increased IT complexity and growing reliance on technology.

A hybrid mix of on-premises (used by 94% of respondents for primary or secondary deployment), software-as-a-service (86%) and infrastructure-as-a-service (80%) is now more or less ubiquitous.

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Organisations are increasingly seeing the benefits of outsourcing additional parts of their IT stack. At the same time, most organisations are more reliant than ever on IT to drive core business processes

“Today’s data centre has evolved, and IT teams need to be prepared with the mindset and platform required to address constantly changing IT environments,” said Rick Fitz, senior VP of IT markets at Splunk.

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Ben Rossi

Ben was Vitesse Media's editorial director, leading content creation and editorial strategy across all Vitesse products, including its market-leading B2B and consumer magazines, websites, research and...

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