Things have been dynamic like never before, digital disruption has been the buzz of the decade. All of today’s day to day activity is largely influenced by large scale digitization and the intrinsic nature of modern human to always remain connected with the world with just a tap. Hence it is very rightly stated that change is the only constant so to adapt better to this change let’s discuss on the next innovative thing happening on the digital front…CLOUD COMPUTING and also how businesses are using it to gain the competitive edge in this market.
Doing business has greatly become more sophisticated and has evolved from dusty registers and opening shops to computer registers and buying domain name and a virtual space making cloud computing the evident next step for corporates to shift their focus to.
The idea behind cloud computing being treated like a utility is not new. In fact, it is a concept that is over 50 years old. Back in 1961, a famous American computer scientist named John McCarthy stated that computing would someday be organized as a public utility and each user would pay for only as much as they used. The best way to understand the importance of treating cloud computing as a utility is to compare it to another well-known public utility system – the telephone line. With any phone system, you pay only for what you use. It is a “pay-as-you-go” model. Computing services offered via the Internet are exactly the same – the user pays for the capacity they need and actually use.
So, what is so lucrative about this technology which is luring so many SMEs as well large giants of every industry equally, it is the ability to go paperless and access to almost infinite storage space which can be accessed from any point of this planet. The major concern that cloud computing takes out for businesses is the tedious job of manual document processing and extracting summaries of various major business events, such as annual sales, human resource management, supply chain and logistics etc as doing all these jobs are still available on the cloud but all automated saving a huge amount of time as a resource for any organization.
Cloud computing allows anyone to store, locate, and retrieve all your data, files, software, and even use virtualized hardware through the Internet. Instead of having to own servers, server space, and applications, you can now rent them without worrying about bogging down your computer or having to upgrade or continuously purchase more applications, server space, or bandwidth to keep up with your ever-increasing computing demands.
Here are few of the advantages of doing business on the cloud has-
- Reduced IT Costs-
Traditionally, businesses would use a “technology acquisition model” to support their IT requirements and needs. This would often require a hefty upfront capital cost and very expensive IT maintenance services.
When computing requirements increases, subsequent upgrades could be easily applied without increasing the operational cost of the organization much.
- Business Efficiency & Management-
Cloud competitive gives a modern edge to businesses which is required to thrive in the rough sea of business risks and uncertainties. Cloud computing and advancements in AI and machine learning allow any organization, be it large or small, to sort through unstructured data in a sensible manner, and notify them of any unusual changes and possible new trends.
- Comprehensive Inventory Management Capabilities-
Logistics and inventory management has seen to take a more sophisticated leap as well. Like Big Data, Big Inventory can also be managed following all the optimization techniques which has only been possible through the use of advanced data mining algorithms running all over such systems.
Specifically for small and midsize businesses (SMBs), the benefits of cloud computing are endless. Cloud computing saves businesses time and money by boosting productivity, improving collaboration and promoting innovation.
Businesses use cloud computing to access information anywhere with any compatible device. Rather than storing information on your computer or a server in your office, cloud computing stores data on the internet. It works by making information available from a central web-based hub that gives anyone with proper credentials access from any location with an internet connection. Cloud computing also syncs data for all devices connected to the cloud, keeping them updated with real-time information.
A major question which pops up after reading all these advantages is what are the security hazards and is doing business on the cloud all that simple?
Well, Cloud safety is all about finding the right vendors and implementing technology that focuses on both identity verification and data encryption. Here are the few questions which businesses should ask before doing business on the cloud-
- Who can see my information?
- Is my data located at multiple data centers in different locations so it is protected from regional attacks?
- What redundancies do you have in place to protect my data?
- What specific measures do you take to encrypt my data?
- How do you manage encryption keys?
- What happens and how will you restore my data if there is a crash or cyber-attack?
- What security certifications do you have?
- Are you compliant with the most current security protocols?
If any organization gets all these aspects of cloud computing sorted then doing businesses on the cloud is definitely the NEXT BIG THING in this digital era.
The scientific philosopher (pen name) in the quest to decode the mysteries of nature metrics and thus experience the cosmic decoded harmony.