The New York Stock Exchange's crash Friday highlights the mounting danger to companies counting on computers to run vital operations. No matter how many precautions are taken, the systems are still failing and costing millions when they do.
Costs are huge.
That's an average the NYSE certainly exceeded, Tse says. Unlike other crises that can be managed with backup plans, computer systems remain an open invitation for trouble. In fact, systems have become so complex they're impossible to fully test, says Alan MacCormack, professor at the Harvard Business School. Costs of failure are huge. The NYSE's reputation may have been damaged.