April 30, 2024

Parametrix Cloud Outage Risk Report 2023

A growing number of businesses are increasingly dependent on cloud storage and cloud-native services as the cloud ecosystem continues to expand. 

This second annual Cloud Outage Risk Report from Parametrix presents some powerful insights into the performance of the three major cloud service providers - Amazon Web Services, Google Cloud, and Microsoft Azure. 

Clarity and granularity of data are critical to our understanding of cloud resilience, just as they are essential to comprehension of the risks inherent in any complex supply chain. Parametrix continues to hone and extend the Parametrix Cloud Monitoring System, which allows us to gain an ever-improving picture of the impact that a specific interruption of cloud services may have on an individual business, or a sector.

We see this data as a fundamental component in any approach to model the exposure to cloud outage events and designing of risk transfer solutions.

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

- monitoring methodology

- provider performance details for 2023

- causes of downtime

- the Parametrix Cloud Stability Index

- portfolio modeling and the Fortune 500, and

- an analytical Case Study of actual 2023 downtime events.


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