Databases aren’t just about entering and retrieving information, they’re about entering and retrieving information fast. And the faster you do it, the greater your profit.
| When people ask me what I do, I usually tell them that I’m in the database (as in DB2 LUW) performance and security business. But really, I’m a speed merchant. You see, databases aren’t just about entering and retrieving information, they’re about entering and retrieving information fast. And the faster you do it, the greater your profit. Period.
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- Your employees will get more done. Every second an employee waits for data to come up, or for data to be submitted, or for systems to come back online not only costs you money, it causes you to lag behind your competitors who aren’t experiencing slowdowns or downtime. Still not convinced? Consider:
According to Forbes the Fortune 500 employ 27 million people at an average compensation rate of $33.00 per hour, a Dun & Bradstreet survey determined that 59% of Fortune 500 companies experience a minimum of 1.6 hours of downtime every week, and a TRAC Research study determined that slow-time occurs 10 times more often than downtime. Using those statistics the Fortune 500 experience 24,544 hours of downtime and 245,544 hours of slow-time, that’s a combined 30 years of man hours annually, the resulting downtime compensation cost is an astronomical $1.2 trillion which is equal to 12% of US GDP.1
- Your customers will stay around to find what they need. 47 percent of visitors expect a website to load in less than 2 seconds, and 40 percent of visitors will leave a website if the loading process takes more than 3 seconds.2
- You will receive more orders. “When Amazon analyzed its ratio of sales to its Web performance through A/B tests, what it found was that with every page load delay of 100 milliseconds there was a 1 percent decrease in conversions.”3
- Orders go through faster. Which means more of them! “There's a direct connection between site performance and sales. For instance, a recent Walmart.com study found that an improvement in page load time of 100 milliseconds - one-tenth of a second - produced a 1% increase in incremental revenue for the e-retailer.” 4
- Inventory turns faster, which is why you’re in business in the first place.
What You Need to Know
Speed absolutely, positively equals profits.
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1 http://www.eginnovations.com/solution-brief/Reduce-Downtime.pdf
2 http://www.websitemagazine.com/content/blogs/posts/archive/2014/03/21/5-reasons-visitors-leave-your-website.aspx#sthash.QuA1qvPO.dpuf
3 Ibid.
4 https://www.internetretailer.com/2013/11/04/sponsored-supplement-site-performance-equals-profit