04 Apr Business Broadband
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How Investing in Broadband Can Improve Your Business
You might think you have high speed Internet,
But is it fast enough to be called “broadband?
Maybe not, and that slow connection can hurt your business.
ONE EXAMPLE :
Speed Boosts Efficiency
Research related to Internet speed usually looks only at how website loading times affect sales. For example, it was recently determined that Amazon might lose 1.6 billion in sales from a one-second delay in loading time of pages.
But the other side of that equation is the cost in time and money. According to a 2014 survey by the Pew Research Center, a whopping 94 percent of jobholders are Internet users. And of those, the majority (54 percent) say the Internet is important to doing their jobs — more important even than their phones.
We’ve all spent time waiting for pages to load, and time is money. If you or your employees spend half of each day online doing research, accessing systems or dealing with customers and vendors, that amounts to 4 hours per day. If 5 percent of that time is wasted due to slowness, over a year’s time that’s 50 hours per employee. If 10 percent is wasted, it’s 100 hours per year per employee. Add it up and it could be many thousands of dollars lost.
You might also spend time watching as files take forever to upload or download. There is little in the way of productive work you can squeeze in during these annoying waits. All that inefficiency has a cost, and the simplest solution is a faster internet connection.