According to Gartner, network downtimes of about 1 hour can cost companies over $300,000 in productivity, maintenance, and loss in revenue.
It is true that in modern business, technical disruptions come with a high cost. System outages and downtimes can cost organizations a sizable chunk of their profits.
To mitigate some of these risks, it is important that IT teams keep close track of the right incident management KPIs. This would enable teams to detect, diagnose and resolve IT issues in a more efficient manner
Here are a few key metrics that your IT teams must get visibility into, to improve the overall digital device experience of the organization:
Faster issue resolution leads to increased productivity and overall higher efficiency of the organization. Keeping track of IT issues
logged in an organization helps understand the trend of issue logging, system failures, and other roadblocks. With the right checks and balances, it becomes easier to address these issues and resolve issues in time before they get out of hand.
Mean Time to Resolution (MTTR) is a crucial metric to understand the overall issue reporting and response time in an organization. MTTR tracks the time spent in detecting and resolving an IT issue. In addition, it also helps measure the time required to ensure that a similar issue does not arise in the future.
Mean Time Between Failures (MTBF) is the average time between system breakdowns. MTBF uses unplanned maintenance time and does not account for scheduled maintenance.
Service Level Agreement (SLA) defines the level of service that customers can expect from a vendor. It highlights the metrics by which a service is measured, as well as remedial measures if required. SLAs are generally made between companies and external suppliers.
SLAs define metrics, responsibilities, and expectations for the purpose of transparency and efficiency of the customer and provider.
Downtime refers to the amount of time your systems have not been operational. Organizations always aim at having the lowest possible downtime – which means systems should be operational at all times.
Proactive detection and resolution of IT issues help enable a high uptime. According to industry standards, 99.9% of uptime is considered good.
While tracking metrics is important, gaining insights on the metrics is crucial too. Deriving value out of the key metrics helps analyze system performance issues. With the right analysis, organizations can take effective remedial measures as and when required.