Catchpoint has published its inaugural Internet Resilience Report. This sheds light on the crucial role of Internet resilience in today’s highly interconnected business landscape.
The Internet’s complexity and its vital role in connecting businesses and customers necessitate a holistic resilience strategy says the report.
Based on insights gathered from 310 digital business leaders, key findings from the report include:
- 97% of respondents state that a reliable, resilient Internet stack is of the utmost importance to their business success.
- 78% identify improved customer experience as the primary driver for resilience programs.
- 77% highlight the critical role of third-party technology providers in their Internet resilience strategies.
- 43% estimate a total economic impact or loss of more than $1 million monthly due to Internet outages or degradations and some Internet outages cost some companies upward of $10 million a month.
Catchpoint’s report provides actionable insights for businesses to enhance their Internet resilience. Top suggestions include:
Think about resilience from the top down
Leaders must incorporate Internet resilience into their strategic plans and daily operations to instil an effective, long-term culture of resilience. This includes the implementation of a new role, that of chief reliability or chief resilience officer to the c-suite, something Fortune 2000 companies are increasingly doing.
Align internally
break down organizational silos and foster collaboration between IT and business teams to ensure alignment and a focused, constructive response to outages.
Implement Internet performance monitoring
Use objective, independent Internet performance monitoring (IPM) data to settle disputes and remove emotion from the equation, while setting service level objectives (SLOs) to guide actions during incidents. The longer mean time to repair (MTTR) takes, the more the risk of payouts and other ramifications increases, including the threat of decreased customer loyalty.
