UK business are losing an average of £200,000 a month as a result of critical IT incidents â but are suffering less than the global average for repeats of the same problems.
By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.
According to Quocircaâs Damage control â the impact of critical IT incidents report, which was commissioned by Splunk, the average UK company faces 3.5 critical IT issues every month, which cost businesses an average of £58,955 each â a total of more than £206,000.
The survey of 1,000 companies in the US, the UK, France, Germany, Sweden, the Netherlands, Australia, Japan and Singapore found that the overall average number of critical IT incidents for the whole surveyed group was five per month.
In terms of the total number of IT incidents â many of which are not critical â UK companies reported the highest number, with 2,533 per month, compared with 1,061 in the US and 1,288 in Germany.
But the UK was shown to be the most efficient region at prioritising incidents before they become critical, with only 0.14% of incidents escalating to critical level, compared with the global average of 0.42%.
UK companies also suffer fewer duplicate incidents â 13.7% compared with the global average of 17.2%, and 11.7% repeat incidents compared with the global average of 13.3%.
Bob Tarzey, analyst at Quocirca, said organisations struggle to maintain end-to-end visibility because of the growing volume of data being generated by their IT systems and infrastructure. âThis is holding IT teams back from being able to drill down and pinpoint the root cause of issues that are causing frequent and recurring problems,â he said.
The cost of fixing problems is not the only issue caused by repeated IT incidents, with 70% of respondents reporting that a critical incident has caused reputational damage.