Power Issues can occur at any time, and if businesses in the following industries are not prepared, they may experience significant downtime and loss of revenue. The MONETARY LOSS to your business during a power outage and the resulting downtime can be significant. Power issues can impact your bottom line and affect ongoing business operations. Monetary losses due to downtime can vary based on the industry, length of the outage, time of day, and the number of people. The Washington based Information Technology Industry Council (ITIC) reported that 98 percent of organizations say one hour of downtime costs more than $100,000.
Data centers are facilities that contain an organization’s IT operations and equipment. These centers store, organize, manage and process a company’s data. When a data center goes down due to a power outage, the loss of mission-critical data can occur. Since companies rely heavily on data stored in their data centers, losing this crucial information could affect everyday operations long-term.
Patients’ lives depend on crucial medical equipment operating properly even after a power outage occurs. Typically, hospitals have backup generators to make sure everything continues to run. These generators require continuous maintenance and testing to ensure they will work in the event of a power outage. Patient data and lives are all on the line when the power goes out. And without working telephone lines, people will not be able to call emergency services for help.
Companies involved in the stock market can lose out on millions of dollars in a fraction of a second if a power outage occurs. Because transactions happen every second, even a short-term outage can have a drastic impact on businesses.
Energy is used to operate military bases where government officials work to support and maintain deployment of weapons and oversee combat forces. Outages can cause valuable weaponry and equipment to become useless in the event of an attack. With non-functioning equipment, military personnel could be left defenseless.
Retail and Wholesale
Companies in the retail industry suffer lost sales revenue with unplanned outages. For larger retail companies, a few minutes of downtime can lead to tens of thousands of dollars in lost revenue. To understand the possible impact, we can look at Amazon. In 2016, Amazon’s website was unavailable for 13 to 15 minutes. They estimated that this short lapse lost the retailer $2,646,501 in revenue. Although Amazon’s site did not go down due to a power outage, they serve as a perfect example of how downtime can affect a business.