Monday, February 6, 2023

Cloud Failures Cost $70M-Plus Since 2007, Researchers Say

Computerworld: According to a new report from the International Working Group on Cloud Computing Resiliency (IWGCR), 13 top cloud services providers have experienced 568 hours of downtime since 2007, costing the economy $71.7 million dollars. On average, cloud services experienced outages for 7.5 hours per year, an availability rate of 99.9 percent. “It is extremely far from the expected reliability of mission critical system (99.999%). As a comparison, the service average unavailability for electricity in a modern capital is less than 15 minutes per year,” stated the report.

The researchers estimate that the cost of an hour of downtime can vary from $200 to $89,000.

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