Managing Cloud Outage Risk: Downtime in 2022

As the cloud economy grows, a greater number of businesses are becoming even more reliant on cloud storage and cloud-native services. That means the potential impact of cloud downtime and cloud service-disruption events gets bigger by the day. This new report from Parametrix reveals the details of cloud downtime in 2022 among the three major providers – Amazon Web Services, Google Cloud, and Microsoft Azure.

The report is based on observations recorded by the Parametrix Cloud Monitoring System. Business leaders are increasingly concerned about the risk of business interruption and financial loss arising from cloud downtime. Risk managers are looking for efficient solutions, especially since conventional cyber cover may not respond at all to downtime events. When cyber cover does pay, it is usually only after very long periods of downtime, and sometimes only to cover tangible losses.

Effective management of cloud downtime risk can be built only on a foundation of objective and consistent measurement of the performance of specific cloud providers, and a comprehensive analysis of the frequency and severity of the downtime events they suffer.

This report provides insights into the persistence and impact of could outages, including:

• A snapshot of the business world’s growing dependence on the cloud

• A presentation of new research by Parametrix into the cloud-reliance concerns of business leaders and risk managers

• An assessment of the business impact of past and future cloud disruptions and outages

• A summary of the findings of the Parametrix Cloud Monitoring System in 2022, including:

• monitoring methodology

• provider performance details for 2022

• causes of downtime

• the Parametrix Cloud Stability Index, and

• an analytical Case Study of an actual 2022 downtime event.