Calculating the cost of downtime to a business
Firstly, businesses can compare the cost of their recovery plan to the associated cost of downtime.
The goal is that the recovery plans don’t exceed the cost of downtime.
Downtime can cause reputation damage for missing deadlines or simply being unavailable.
To start, you calculate availability, which = the yearly planned downtime plus any unplanned outages.
The cost of downtime = lost revenue + ongoing costs
As an example, 99% availability = 87 minutes of downtime per year.
Consequently, this can help businesses with risk assessments.
As well as this, they can set maximum downtime goals.
As a result, businesses gain metrics that can be tracked.
Reduce business downtime with regular system backups
Businesses should also have a reporting system and fall-backs in case someone is unavailable.
That’s because it can make it easier to practice procedures beforehand and be prepared for downtime.
As an example of what to prepare for, in case of a break-in, someone is required to inform the police.
Not only this, if third-party data is stolen, then the owners need to be informed.
That’s why it’s important to lock down and monitor critical systems such as servers and workstations.
Additionally, cameras and fans should also be installed to keep systems well-ventilated.
However, devices still need to be secured online, so a multi-layer antivirus should be the baseline.