You don’t have to look at any statistics to know that DDoS attacks aren’t just inconvenient. They can also cost your organization valuable time and money.
But just how much time and money? That’s what we’re here to show you with help from the 2018 IDG DDoS Report.
According to the IDG report, 36 percent of companies experiencing more than five DDoS attacks suffer an average downtime of seven to 12 hours.
By contrast, 34 percent of companies experiencing five or fewer DDoS attacks suffer an average downtime of just one to two hours. However, a similar number of these companies (32 percent) endure an average downtime of three to six hours.
This data reveals that although more DDoS attacks tend to result in more downtime, even companies who experience five or fewer DDoS attacks can be burdened with multiple hours of downtime.
As we explained in our previous post about attackers’ fondness for companies with multiple data centers, a report from the Ponemon Institute found that the overall average cost of data center outages was $740,357 in 2016.
More specifically, Gartner estimates that a single minute of downtime costs most businesses $5,600, or more than $300,000 per hour.
With this in mind, it makes sense that the majority of companies view time to service restoration as the number-one factor by which they gauge the impact of downtime, according to the IDG report.
Customer satisfaction took second place (52 percent), followed by order processing (47 percent) and press coverage/company reputation (36 percent).
If you want to discover the approximate cost of a DDoS attack for your company, there are several online calculators that can help.
For instance, BlueBolt’s DDoS Attack Calculator can tell you how much it might cost for you to repair your servers, cover hosting expenses and more. However, you will have to fill out a form to access your results.
Alternatively, Neustar’s calculator can reveal how much each DDoS attack will cost you based on a number of factors, and you won’t need to submit any personal information to access your results.
In the end, it’s clear that even a single DDoS attack can cost your company a great deal of time and money, not to mention how reputation, order processing and customer satisfaction may be affected.
To learn more about the cost of DDoS attacks and discover how companies are facing today’s DDoS attackers head-on, read the full 2018 IDG DDoS Report for free.