Enormous cost of IT failure: $500 bn per month – complexity often cited as culprit!
Thursday, 16 September, 2010 Leave a comment
In a recent whitepaper titled “IT complexity: Danger or Opportunity,” Roger Sessions calculates that each year the U.S. loses $1.3 trillion to IT failures. Worldwide it equates to $500 billion per month or $6.18 trillion. Sessions says the culprit is almost certainly IT complexity.
Whether the figures are accurate or not the message is clear: Prevention is key because the price of failure is huge
Problem: there aren’t many companies ready, willing or able to invest the kind of money required to replace existing systems.
Answer: monitoring and maintenance…but who (in their right mind) doesn’t already do this?
It does rather appear that costs of the magnitude that, prior to the virtual collapse of global financial markets, were (almost) exclusively the domain of playground fantasy are being spent of “shutting the door once the horse has bolted.”
Solution: a reliable and proven means of mapping, monitoring and managing system complexity with inbuilt “crisis anticipation”…Ontonix
In the following example we refer to monitoring an IT system within a banking environment. Often, due to a mish mash of legacy and bespoke systems, amongst the most complex and, therefore, vulnerable. At the other end of the spectrum lie systems associated with Call Centres (link).
Experience: Major Polish telecommunications providers turn to Ontonix – Polkomtel acquires licenses of OntoSpace and OntoDyn.
The following graphic is not specific to IT or telecoms. systems but highlights some of the consistent and verifiable results of our unique research into system complexity. Our technology is in use in a wide range of sectors including Banking, Mining, Medical research, Healthcare and Air traffic control to Computer aided design and petrochemical manufacturing.
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