How Innovation in Cloud Computing Drives Exceptional Business Growthby Sowmya Krishnan April 11, 2018 0 comments
With a correct and selective approach, businesses can create great opportunities for innovation using cloud computing technology. The rapid adoption of this technology is helping organizations of every size and in every industry to keep up with changing the technological landscape. Most IT executives no longer view cloud only as a tool, rather the entire focus is now on using it in a way to accomplish their business goals and move their model from cost management to cost optimization.
Since the introduction of the term ‘Cloud Computing’ in 2006, this technology has been central to many businesses in terms of transformation. It has enabled the storage and retrieval of the immense amount of information through the ‘Big Data’ technology. Today, regardless of whether an enterprise operates in the IT sector or not, all businesses have developed the skill of understanding and implementing the cloud technology with entire organizations moving all of their data to the cloud.
Many questions like finding the best combination of cloud models, finding the right model that increases revenues or helps in cost-cutting, the kind of logistics to be used to deploy the cloud services, run through the minds of business leaders. But the main reason that most executives hesitate to turn towards the cloud is owing to security concerns.
Despite such concerns, adoption of cloud service has been on a steady rise. Forrester predicted in 2014 that public cloud platforms and business services will reach US$236 billion, that is, the market will grow at 22% CAGR between 2015 and 2020. Now it predicts that the 2020 total will be 17% higher than the 2014 projections. That’s how fast the cloud market is growing.
Both private and hybrid cloud computing markets have shown strong growth. IDC’s findings highlight the same shift taking place that is causing data centers’ importance to decrease with simultaneous increase in cloud technology’s value and adoption. It predicts that as opposed to a year ago when nearly 62 percent of the IT infrastructure spending was done on data centers, by 2020, this percentage will fall to 50 percent. Moreover, both public and private cloud will capture 30 and 20 percent respectively.
Azure Stack, Microsoft’s private cloud platform was launched with an intent to copy the public Azure cloud. Similarly, VMware and Amazon Web Services joined hands to introduce a new hybrid cloud extension. Placing areas requiring a lesser degree of security in the public cloud, most companies start off their cloud investments by working with hybrid clouds. The fact that a hybrid model enables great speed is also a key differentiator while at the same time reaping scalability and business continuity benefits both the public and the private cloud models.
By accessing, controlling and analyzing all faults in the cloud network at one single place, businesses will be able to achieve maximum optimization. That is why multi-cloud options are becoming increasingly valuable. Increasing the availability of cloud operations, businesses will be able to use a separate cloud provider for different workloads. Also, multi clouds will enable complete integration of big names in public cloud providers like Microsoft Azure and Amazon Web Services.
Digital transformation is driving new changes that are forcing companies to adopt cloud services to stay in the race. In the next five to ten years, the trend of public cloud and service providers adapting to reach back into on-premise data centers will keep on growing. Faster innovation rate with reduced investment in time, money and resources can be achieved by companies with a thoughtful approach to the cloud.