What is TCO? Explain the importance of an accurate forecast with regards toTCO.

What will be an ideal response?

Although many factors influence the decision to build or buy, the most important consideration is the total cost of ownership (TCO). An accurate forecast of TCO is critical, because nearly 80% of total costs occur after the purchase of the hardware and software, according to Gartner, Inc. An IT department can develop its own TCO estimates or use TCO calculation tools offered by vendors.