Observability Leaders Report Fewer Outages, 4x as Likely to Resolve Downtime in Minutes
May 16 2023 - 8:00AM
Business Wire
New global State of Observability 2023
research reveals observability is foundational to lowering the cost
of unplanned digital downtime
Splunk Inc. (NASDAQ: SPLK), the cybersecurity and observability
leader, in collaboration with Enterprise Strategy Group, today
released the State of Observability 2023, an annual global research
report that examines the role of observability in managing today’s
increasingly complex technology environments. The third annual
report surveyed 1,750 observability practitioners, managers and
experts from organizations with 500 or more employees, providing
the largest view and analysis on the observability space.
Observability has matured beyond its early adopter position and
is now foundational for modern enterprises to achieve full
visibility into today’s complex technology environments. Research
shows how observability is instrumental in reducing outages,
improving app reliability, growing revenue, strengthening customer
experience (CX) and establishing digital resilience.
The report defines observability leaders as organizations with
at least 24 months of experience with observability. In addition,
leaders achieved the highest rank in these five factors: the
ability to correlate data across all observability tools, the
adoption of AI/ML technology within their observability toolset,
skills specialization in observability, the ability to cover both
cloud-native and traditional application architectures and the
adoption of AIOps.
A key finding is how observability leaders are four times as
likely to resolve instances of unplanned downtime in minutes,
versus hours or days. This is notable as 76% of all respondents
report that downtime can cost up to $500,000 per hour. It’s clear
that a faster approach to issue resolution can drive significant
cost savings.
Key findings from the research also include:
- Fewer outages, disruptions to customers. Leaders
experience 33% less outages per year than beginners. (On average,
beginners report six outages, while leaders experience two.)
- Greater visual clarity drives ROI. Due to
observability, a little over 80% of organizations can find and fix
problems faster. In addition, 81% can see into hybrid
ecosystems.
- Stronger assurance to meet reliability goals. 89% of
leaders are completely confident in their ability to meet
availability and performance requirements for their applications,
3.9x the rate of beginners.
- Hybrid will persist. Organizations report maintaining
165 business applications (on average), with about half in the
public cloud and half on-premises. As the number of apps grows,
observability will remain vital to unify visibility across
environments.
- AIOps instrumental to CX. AIOps capabilities included in
an observability practice outperform legacy solutions, by
automatically determining the technical root cause of an issue
(according to 34% of respondents,) to predicting problems before
they turn into customer-impacting incidents (31%), to better
assessing the severity of an incident (30%.)
“With the rising complexity of today’s technology environments
and the direct connection between reducing disruptions and optimal
customer experiences, observability is fundamental to the
successful operations of modern businesses,” said Spiros Xanthos,
SVP and the General Manager for the Observability business at
Splunk. “Observability enables businesses to keep their software
and infrastructure reliable, systems secure and customers happy,
making it a critical component to any organization’s resilience
strategy.”
Other key research findings include:
- Resilience as North Star. 95% say their observability
leaders are collaborating more with line-of-business leaders on
resilience strategies, which includes investing in solutions that
recover customer services faster and remediate incidents more
efficiently.
- Communications and media lead in maturity.
Communications and media companies are leading the way on
observability savviness, with 13% tallied as leaders. Manufacturing
and financial services followed with 8% categorized as
leaders.
- Public sector makes gains with leaders. The public
sector tallied 4% as observability leaders, increasing from 0% in
2022, showing an opportunity for growth.
The State of Observability 2023 also highlights how more
organizations are unifying security monitoring and observability to
obtain richer context on incidents and accelerate resolution, in
comparison to last year. The reasons all respondents are choosing
to unify include:
- More granular and precise threat detection. 59% of all
respondents uncover security issues more effectively, thanks to
intelligence and correlation capabilities native to observability
solutions.
- A comprehensive approach. 55% uncover and assess more
security vulnerabilities, thanks to the visibility afforded by
observability solutions.
- Ability to act quicker. 51% take action on security
issues faster, thanks to the remediation capabilities of
observability solutions.
For more insights from the State of Observability 2023, please
visit the Splunk website.
Methodology
The global survey was conducted from early December 2022 to
mid-January 2023 and in partnership with the Enterprise Strategy
Group. The report surveyed 1,750 IT operations, application
development and engineering leaders from organizations with 500 or
more full-time employees and who are knowledgeable about their
organization’s observability practice. The survey respondents were
drawn from 10 countries: Australia, Canada, France, Germany, India,
Japan, New Zealand, Singapore, the United Kingdom and the United
States.
About Splunk Inc.
Splunk helps build a safer and more resilient digital world.
Organizations trust Splunk to prevent security, infrastructure and
application issues from becoming major incidents, absorb shocks
from digital disruptions, and accelerate digital
transformation.
Splunk, Splunk>, and Turn Data Into Doing are trademarks and
registered trademarks of Splunk Inc. in the United States and other
countries. All other brand names, product names, or trademarks
belong to their respective owners. © 2023 Splunk Inc. All rights
reserved.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230516005091/en/
Media Contact Missy Somers Splunk Inc.
press@splunk.com
Investor Contact Katie White Splunk Inc.
ir@splunk.com
Splunk (NASDAQ:SPLK)
Historical Stock Chart
From Jun 2024 to Jul 2024
Splunk (NASDAQ:SPLK)
Historical Stock Chart
From Jul 2023 to Jul 2024