In an ideal world, your applications will be load balanced over several servers to prevent any load issues and downtime due to server crashes and have a failover system identical to the main system which can take over should your main system completely fail or become unreachable. This is usually very expensive and many companies have to make a choice between having a load balanced system or employing a failover mirrored system.
A load balanced system tends to be the industry standard and provides high availability, speed and data resilience. A true load balanced system will contain 1 or more load balancers, 2 or more web/application servers and then 2 or more database servers (if required). The load balanced system can be much more complex depending on the nature of the service it is designed to provide, however the benefits are the same no matter how complex it is. Having multiple servers to do the same job means that you can share the load your application generates across more hardware then you would get with 1 server. If you allocate enough resources, it also means should you suffer individual hardware failure; the other parts of the system can take over seamlessly, thus resulting in zero downtime due to hardware problems, in theory. As you usually allow for this, the amount of servers in the system tends to mean you have more resources between them then you would require for the application so the speed tends to be improved as well.
Clustered systems also allow for greater data integrity, as fast connections between data servers means replication of data can often occur in near real time so individual hard drive failure usually does not result in major data loss.
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