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Critical IT events seriously hurt the bottom line

An average European business suffers 36 critical IT events every year, which really impacts the bottom line. This is according to a new report by Splunk (opens in new tab). It defines a critical IT event (CIE), as a situation when a business application is down or has a malfunction. Each CIE costs an organisation, on average, £88,488 (€115,034), meaning these losses amount up to millions every year. 

“As IT complexity grows, critical IT events are inevitable in all organisations,” said Bob Tarzey, analyst, Quocirca. 

“To limit the punitive associated costs and time wasted dealing with CIEs, it’s crucial IT teams have the insight required to pinpoint the cause when an incident does occur and get services back online as quickly as possible. Effective Operational Intelligence improves both the visibility of these teams and the co-ordination between team members as well as increases their productivity. The sooner CIEs are dealt with and lessons learnt, the sooner IT staff can stop firefighting and return to delivering value.” 

The situation is so dire that downtime has become the number one IT concern for EU IT management, surpassing even security. Organisations increasingly rely on IT, which is getting more complex by the day, so these worries grow as well. 

“Today’s datacentre 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 vice president of IT markets, Splunk. 

“Legacy systems often operate in silos and IT teams can struggle to collect and correlate information from multiple technologies. This makes it difficult to monitor infrastructure and resolve issues when they occur. By analysing the data generated across your IT environment in depth and in real time, you can gain the Operational Intelligence to troubleshoot quickly, reduce MTTR and ultimately cut the costs associated with critical IT events.” 

Image source: Shutterstock/hafakot

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.