Online Outages Wear on Profits, Not Just Customers’ Patience | Fox Business
As customers become more reliant on the Web for everyday tasks and companies use internal networks to power more operations, businesses are reminded more than ever how costly an online outage can be, especially around the high-traffic holiday season.
This year alone, denial of service cyber attacks downed the consumer web sites of major U.S. banks like Bank of America (BAC) and J.P. Morgan Chase (JPM), while glitches in internal software caused erroneous trades at Knight Capital (KCG) and the Nasdaq OMX (NDAQ) and disrupted travel plans at United Continental (UAL).
Whether it’s cyber attacks or internal glitches, an outage can be damaging, causing significant monetary harm and tarnishing a company’s reputation even if a site or network falls for just a few minutes.
Last week, an outage in United’s Unimatic software used to control its ground operations delayed flights nationwide, causing a furry of passenger backlash a week before the busy Thanksgiving travel weekend and denting the No. 1 U.S. carrier’s image.