What is the cloud?
The cloud refers to software, applications, and other services that run on the internet rather than a remote server. Many firms operate cloud technology in some capacity to augment or streamline their current processes, including hosting, data storage, and app deployment.
In short, cloud technology lets companies reengineer their back-end architectures (servers, databases, application software, and more) and put them in virtual environments where they can be accessed remotely without needing physical server hardware of their own. Cloud services (also known as web services) are a blanket way to convey these computing powers. The cloud also lets any worker with an internet connection access authorised company systems and programmes.
8 advantages of moving to the cloud for companies
There are many advantages companies can encounter when moving to cloud technology. This change can not only help trim budgets but also positively improve the way your
workforce communicates.
Cost savings: before cloud technology, firms were required to pay for on-site wait people or even off-site data hubs. Cloud technology preserves space and reduces costs by allowing your firm to pay a hosting company instead of hosting the servers in-house. For instance, Oracle Cloud clients save approximately 30%-50% by switching to the cloud.
Improved data security
Data stored on the cloud is encrypted, making it more secure than other hosting solutions. In addition, since cloud technology is updated continually and is newer than older data centres, cloud hosting businesses can keep up with the latest cyber security dangers, while off-site servers are more at risk. In addition, the company doesn’t have to focus as much on in-house security since cloud hosting firms present a variety of options to select from, including tokenization, firewalls, and virtual private networks (VPNs).
More transparent data insights and analytics
Cloud technology can bring much-needed wisdom and analytics to your fingertips in seconds. You can gain access to these insights quickly, and it’s more comfortable to share, unite, and assess these findings with all workers. Many cloud solutions also present additional analytics tools and functionality, depending on your company’s needs. The four major analytics tools include descriptive, predictive, prescriptive, and diagnostic analytics.
Better data recovery
You won’t have to stress about losing data with cloud technology; even if an emergency transpires, you’ll be able to access your files from anywhere. Cloud security includes fail-safes like storing your data and media on a secondary site in case of an emergency for better catastrophe recovery and company continuity.
Ability to scale
Numerous cloud technology firms suggest a pay-as-you-go estimate for their services, letting you modify as your business expands or changes. This authorises you to rise quickly when required or slim down your cloud services as your company model adapts.
For example, if you’re a start-up, you might not require CRM or data research tools right away. Still, if your firm were to improve, you might need to make your cloud technology include CRM programmes and more insightful analytics.
Increased collaboration
Cloud technology is perhaps best known for getting employees and teams together, letting users work in documents and spaces at the same time while automatically syncing and keeping updates. No more transmitting hundreds of copies of the same documents; cloud technology always provides you with the most recent version.
More environmentally friendly
By eliminating the necessity for an off-site warehouse or a data centre in-house, your company can save money on power, directly affecting the environment. In addition, since your cloud platform will only deliver the services you require, you’ll only be using the power needed to run your operation and nothing more.
increased time savings
Cloud technology delivers time savings in numerous ways. First, rolling out cloud technology permits for more quick training and updates than outdated software. But, often, cloud companies provide in-house training when required, and communicating and working remotely is also quicker and more comfortable thanks to cloud-based collaborative tools.
Potential risks of moving to the cloud
While cloud technology is, no doubt, the future for multiple firms, there are some threats you should comprehend before migrating. A few common threats you’ll want to consider include:
Migration can be time-consuming
Migrating to any new technology requires a time investment, and cloud technologies are no exception. While adopting a SaaS model may allow you to slowly upgrade over time, more wide-ranging cloud technology, like that offered by IBM, may require longer periods of investment since they operate their engineers.
Potential for existing data loss
Not all software plays well together. Unfortunately, when embracing a cloud technology system, there’s always the possibility your old data can’t be easily imported. Whether this represents a gap in data or manually having to input old data, prepare yourself for the chance that your existing data could be lost or no longer efficiently accessible.
Potential change in data architecture
Even if you can transfer your old data over, it may not examine the way you’re expecting. Each cloud technology has its own method for storing, filtering, and accessing data. The hierarchy might be distinct, indicating that your old data must be resorted, categorised, or not ideally re-entered to fit the new information architecture.
The decline in data control using a third party
There’s no way around it. Transitioning to cloud computing signifies communicating your data to a third party. And the path its control might extend is up to you. Instead of accessing the data through your server, your assets and systems will now be controlled by the cloud provider, restricting your access to your data.
Loss of visibility
Along with reducing the control you have over your data, your IT team’s visibility into how your data is stored and accessed may also be reduced. The trade-off when moving to a cloud storage firm is that a third party is now operating the hosting of these techniques. As a consequence, you’ll lose some visibility into your procedures. For example, you may not be able to resolve technical problems or issues with your firewall any longer, thus leaving your cloud provider to tackle these problems.
New data stored on the cloud can be lost
While data is deemed more secure in the cloud, that doesn’t mean it can never be lost. The third-party company could accidentally delete or migrate your data without backing it up, forcing you to lose valuable data, programmes, or upgrades. This part of the procedure is almost entirely outside your authority.
Technical assistance is outsourced
Imagine your company or any of your employees experiencing technical problems with your cloud provider. In that case, you’ll typically be required to reach out to a consumer assistance line via chat, phone, or email. Depending on your miracle level and the cloud provider you’ve chosen, answers to technical problems could take days, slowing down your company’s productivity.