Even Small IT Failures Can Cost Millions, Tech Leaders Say
CIODIVE, Friday, October 25th, 2024
Businesses lose up to $1.9 million per hour from high-impact events like the CrowdStrike outage, according to a New Relic survey.
All it took was an automated software update dispatched shortly after midnight EST on July 19 to bring millions of Windows-based computers crashing down across the globe. The CrowdStrike update was live for just over an hour but the impacts were felt for days, as several major airlines scrambled to reboot workstations and restore operations, grounding thousands of flights.
'The CrowdStrike incident is in its own class because it disproportionately impacted some of the largest companies in the world - it was a poison pill those companies had to remediate themselves,' Benders said.