Network Downtime Calculator reveals sectors most at risk from network failure in new research project
Warwick Business School and Networks First develop easy to use online Network Downtime Calculator
9 May 2007: Key UK sectors are at significantly greater risk from the impact of network downtime according to new research conducted for Networks First, the specialist provider of converged network support services, by Warwick Business School. The research revealed that retail is particularly at risk, with an average probable downtime cost of over £350,000 per hour. This is more than three and a half times greater than finance, which itself faces downtime costs of over £100,000 per hour.
The research highlights the growing dependency of many businesses on IT infrastructure and the networks that join them together. Retail is particularly at risk because supply chain logistics now virtually depend on IT to get products onto shelves within very tight schedules. In addition, retail point-of-sale (POS), the rapid growth of online sales and stocking for longer opening hours all depend on reliable IT networks.
The aim of the research project was to identify the tangible and intangible costs of network downtime and to provide companies with a tool to discover for themselves the probability and real cost of downtime in their organisation. The end result is a Network Downtime Calculator which is easy to use and accessible online.
Commenting on the findings, Peter Titmus managing director at Networks First, says: “Other sectors at significant risk from network failures are finance, services and healthcare, which is expected to rise dramatically as more and more systems are migrated to IT. While risk for commercial sectors is largely financial, for healthcare the stakes can obviously be much higher. Network failure for a bank can obviously be highly damaging financially but in healthcare it could mean the difference between life and death.
“This is why it is so important that organisations understand the impact of network downtime on business today. The Network Downtime Calculator Networks First has developed in conjunction with Warwick Business School aims to help people understand just what they are up against so they can address potential network failures.”
Methodology
Research methods used during the project include the Markov Model, causal mapping and Business Impact analysis. The project was run over a period of six months from July 2006 to January 2007.
Notes to Editors
About Networks First
Networks First’s tailored network support service is based on service level agreements aimed at restoration of network services rather than the traditional break-fix approach. The service incorporates: escalation procedures, access to highly trained accredited engineers, remote diagnostics, customer questionnaires following every fault call and comprehensive customer reporting. Customers also benefit from first class network support 365 days a year, with access to 24 hour services throughout the UK.
For more information please contact Rebecca Dunstan/ Emily Droogleever at Portfolio Communications on 020 7240 6959 rebecca.dunstan@portfoliocomms.com / emily.droogleever@portfoliocomms.com
