IS THE CLOUD THE FUTURE?

Things you need to know about Cloud Computing

Cloud computing is everywhere. We may not be aware of it, but we use it every day – in fact, several times a day. Wondering how? Well, the common areas include data backup and storage, streaming audio and video content, and data analysis, although not limited to these.

Cloud computing is the delivery of computing services – including servers, storage, databases, networking, software, analytics, and intelligence – over the Internet (“the cloud”) to offer faster innovation, flexible resources, and economies of scale. This market is at a phase of accelerated growth as more and more companies are either finding a way into this cloud or, if already there, on the lookout as to how other processes of their business could benefit from it.

Cloud computing can be classified into 4 main types –

Public cloud – owned and operated by third-party cloud service providers, which deliver their computing resources like servers and storage over the Internet to businesses

Private cloud – where a private cloud where a single organization or company uses computing resources exclusively

Hybrid cloud – combines public and private clouds, bound together by technology, allowing data and applications to be shared between them

Community cloud – where distribution systems are created by integrating the services of different clouds to address the specific needs of an industry, a community, or a business sector

Based on the infrastructure, platforms, or software there are three main types of solutions/models –

1. Infrastructure as a Service (IaaS) – where the cloud service provider manages the infrastructure for the business – the servers, network, data storage etc.
2. Platform as a Service (PaaS) – where the hardware and an application-software platform are provided and managed by a cloud service provider, but the user handles the apps running on top of the platform and data used by such apps
3. Software as a Service (SaaS) – where a software application, which the cloud service provider manages, is delivered to its users.

Companies use one or a combination of these models for their IT requirements,  depending upon various factors like what the business does, the nature and volume of workload and data, the number of users who need access, etc.

By 2023, Gartner estimates that global spending on public cloud products will reach $600 billion. In terms of end-user spending on Infrastructure as a Service (IaaS), Gartner projects a 30.6% annual growth, while Desktop as a Service (DaaS) is estimated to grow by 26.6% and Platform as a Service (PaaS), by 26.1%. Organizations are spending $2.6 billion on cloud migration each year due to the increasing trend of hybrid work.

The volume of data generated and consumed over the last few years has, as we all know, been staggering. Be it personal or professional, we have been constantly creating, processing, or sharing data in huge volumes daily. Today, cloud computing helps us connect almost everything digitally. And this has led to a new world of applications, services, and platforms, opening up a plethora of new job opportunities and advancements in this field.

Across industries, when implemented in the right way, cloud computing can help companies become flexible to meet consumer market needs, improve performance and thus, scale up their business.

CLOUD AND EDUCATION

Reduced data storage costs, real-time collaboration, automation of critical processes, easy access to resources, and convenience of learning from anywhere are some of the benefits of cloud services in the Education sector. A cloud-based education platform also offers students improved access to the same materials and learning resources, regardless of their device or internet browser.

CLOUD AND HEALTHCARE

Cloud computing improves the quality, safety, and efficiency of medical services by engaging patients and families better, coordinating care, and maintaining patient privacy. The benefits include electronic medical record-keeping, reduced data storage cost, better engagement with patient and family.

CLOUD AND THE GOVERNMENT

Cloud-based e-government services provide the best possible service to citizens and businesses at an affordable cost. It enables a better online user experience for citizens, improved internal efficiency and productivity, better collaboration among departments, and reduced labour costs, to name a few.

CLOUD AND IT

In the event of a natural disaster, power failure or any other crisis, you can ensure that your data is backed up and protected in the cloud. Accessing your data again quickly allows you to conduct business as usual, without any downtime and loss of productivity.

CLOUD AND TELECOM

Cloud computing in telecom has great potential. This is what made it possible for businesses to function during the COVID times when the whole world went into a lockdown and employees were working from home. Stability, quick disaster recovery, and enhanced customer experience, are some of the benefits.

CLOUD AND FINANCIAL SERVICES

Cloud solutions enable financial institutions to modernize their operations, while also adopting all aspects of digital transformation. Data protection, disaster recovery, processing transactions, and keeping pace with customer expectations through timely and transparent service.

CLOUD AND ENTERTAINMENT

Cloud computing offers scalable resources that can help companies lower costs. The cloud has the potential to deliver high streaming performance, with minimal downtime, which is critical for a great user experience. OTT platforms like Netflix and others have been able to achieve success by doing so.

CLOUD AND RETAIL

Cloud services in the retail industry offer several significant benefits: reduced infrastructure, storage, and computing costs; real-time access to all-important operational and inventory data. Another reason why the cloud is best for retail is because it allows businesses to store, process, and analyze large amounts of customer data/information. Retail businesses can use data analytics to segment their target audience and create customized marketing plans.

Features like its flexibility, scalability, security, the scope for customization, and centralization of data, make the future of cloud computing bright and promising. For organizations, cloud computing can offer significant advantages in terms of cost, agility, performance, and security. Cloud computing is dynamic, expansive and cost-effective, and these features make its future very promising.

If you are reading this blog, you are likely having trouble figuring out the best fit for your business, where to start, or how to build it. Fret not, because this is where everyone started from! We can help you figure out the best cloud for your business and also get the most out of it.  Reach out to us to know more, and we will b happy to assist you.