Cloud Computing is an upward technological trend, and there is a definite chance that it is being used in some aspect of every business. Businesses are beginning to recognize that cloud computing may be the next component to be incorporated in the overall business plan as it changes how the company can operate.
Benefits to Cloud Computing
When deciding whether to implement cloud computing, there are some great benefits to consider. Moving applications to the cloud could not only lower your costs, but it could better predict what your costs will be. Organizations can now have a single flat monthly cost to maintain the applications. With these applications comes the upgrading, and usually, businesses wait months or even years after it is uploaded to send it off to their staff. Cloud applications are automatically upgraded for all users without waiting for resources to become available to perform an installation. One benefit that the end-user will experience is the ability to work wherever they are, as cloud applications are more practical than PC-based applications. Since they do not require complex installation procedures, businesses can run faster than traditional server-based applications. The most significant benefit of cloud computing is improved business agility. Business agility determines how fast companies can react to an ever-changing marketplace. Cloud platforms give businesses the ability to enhance customized applications, and if companies leverage the capabilities quickly, it allows them to stay ahead of their competitors.
Potential Cloud Pitfalls
With such a significant trend as cloud computing, there also lies the issues that could arise when third parties have control over your data, especially when there is no certainty regarding the data storage locations or how the data is protected. You may think that because you have transferred your data to a third party, those financial liabilities would also apply to them since it is up to the third party to protect your information. They should be liable for any data breaches but rarely is this the case. Your company information is vulnerable to hackers, and data breaches can result in lost, destroyed, or improperly sent data. You risk storing various parties’ data on shared servers, and there are varying laws that govern privacy and data protection across different jurisdictions and geographic locations. Cloud Computing can lead to business disruptions, privacy law violations, and disclosure of confidential information. With these types of risks, financial consequences will occur for both the cloud provider and you, the customer. As businesses become more dependent on cloud technology for daily tasks, learning about the risks and how to protect yourself from these risks are extremely important.
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