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Article Excerpt
Most companies think they are prepared for disaster by backing up critical data, which they can quickly restore if a loss occurs. Few companies, however, are prepared for a catastrophe-total system failure-in which they lose all their data as well as the entire operating system, applications, settings, patches and more, reducing their system to "bare metal" and experiencing costly downtime.
The Cost of Downtime
Rebuilding even a single system from scratch can take a few hours or several days-time in which management, employees and customers have no data access. As a result there are no sales, no customer service, no product shipments, no supply chain management, no call centers ... no revenue.
How Much Does a Single Hour of Downtime Cost?
The Meta Group stated that, in 2002, system downtime cost American businesses an average of $1 million an hour. A survey done by Contingency Planning Research and published in the April 3, 2000 issue of InternetWeek details hourly downtime losses for several industries:
Industry Cost per hour Brokerage operations $6,450,000 Credit card authorization $2,600,000 Package shipping services $150,000 Catalog sales center $90,000 Airline reservation center $89,000
In today's 24x7 world, even if downtime is only $1,000 an hour, a three day shutdown would cost a company $72,000....
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