41% of Aussie businesses have full-stack observability

About two in five (41%) technology professionals in New Zealand and just over a third in Australia (35%) had achieved full-stack observability, according to New Relic’s third annual Observability Forecast report.

The report found that organisations are on average realising a twofold return on their observability investment from improvements such as improved system uptime and reliability as well as security vulnerability management.

On average, Australian C-level executives report a total annual value of $1.5 million or more from their observability investment. But New Zealand respondents report breaking even on their investments.

Meanwhile, organisations report a median annual outage cost of over $11 million in Australia, with 42% of respondents reporting critical business outages costing $390,000 or more per hour of downtime.

The top drivers for observability in ANZ are security, governance and risk (43%), multi-cloud migration (41%) and customer experience management (37%). Full-stack observability was also found to improve service-level metrics for 62% of respondents.

Other benefits of investing in observability include increased operational efficiency (42%), improved system uptime and reliability (36%) and improved security vulnerability management (36%).

New Relic Chief Architect for APJ Peter Marelas said the findings also show that tool consolidation remains a key priority to achieving full-stack observability and minimising the impact of outages.

“The Observability Forecast shows that teams with full-stack observability consistently have fewer outages while detecting and resolving issues faster than those without it,” he said. “This translates to lower outage costs, a higher annual return on investment and a positive effect on an organisation’s bottom line. The business value of observability is clear.”

Image credit: iStock.com/Lan Zhang