The median cost of IT outages at Indian organizations now stands at around Rs 520 crore ($62.79 million) per year, a new report said on Wednesday.
According to the web analytics and software company New Relic, about 74 percent said the time taken to resolve these outages improved after adopting observability solutions.
“The Observability Forecast reveals that 43 percent of businesses in India have siloed telemetry data, creating blindspots in monitoring and maintaining system health. It’s clear that full-stack observability can help resolve some of the most pressing challenges facing Indian organizations,” said Peter Marelas, Chief Architect, APJ, New Relic.
The report surveyed 1,700 technology professionals across 15 countries. According to the report, organizations in India are challenged with tool sprawl.
They used more tools than any other country by a wide margin, with almost 72 percent using over ten tools for observability.
Although no respondents in India use just one platform for observability, 51 percent said they prefer a single, consolidated platform and highlighted too many monitoring tools as the biggest challenge to achieving full-stack observability.
Additionally, a third of Indian organizations (33 percent) said they plan on consolidating their tools next year to maximize the value of their observability spend.
Moreover, the report said that almost half (45 percent) of respondents in India stated that critical business app outages cost more than $500K per hour of downtime.
About 44 percent said observability improves revenue retention, and 35 percent said it creates revenue-generating use cases.
Globally, respondents with full-stack observability are more likely to experience the fastest mean time to resolution (MTTR) and were 19 percent more likely to resolve high-business-impact outages in 30 minutes or less compared to those without full-stack observability, the report mentioned.
As the cost of critical business application outages rises, nearly a third (32 percent) of respondents in India said the cost of that significant downtime was more than $1 million per hour- more than any other country.
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