Once a term used to describe simply the empty space between the user and provider, the cloud has evolved into a daily essential. Allowing for almost endless amounts of data to be stored, analyzed, and shared in a virtual filing cabinet, businesses are now met with a long-awaited answer to their data question.
Today, 93% of organizations use the cloud in some form. Of those corporations, 42% of companies derive 50% or more of their business directly through cloud-based apps. The high levels of cloud penetration in business seem shocking when we recall that it was only up until 2006 that this tech started to stand out. Storing data online wasn’t easy and the release of Amazon Web Services and Google Docs completely changed the game for individuals and businesses alike. Spending on the cloud is expected to grow at a rate of six times faster than spending on IT, more than doubling from $67 billion in 2015 up to $162 billion by 2020.
For the smart business leaders who take advantage of cloud computing technology, saving money and streamlining operations is often the main goal. When incorporating cloud services into business operations, most companies reach for the hybrid option that combines on-site infrastructure with public clouds. This allows data to be moved between both private and public servers and gives the most control and cost-effectiveness to users.
This switch greatly reduces the price tag that comes along with IT department development, as onsite-only servers and data centers are no longer required. Replacing often outdated legacy technology with upgraded and modern equipment is often enough to encourage business leaders to make the switch, not to mention monetizing the former maintenance-based IT department into a channel for revenue.
How does your business use the cloud to grow? Take a look at this infographic from CBTS for more on the state of cloud computing, how businesses are using the cloud to fuel success, and what it means for the future of data storage and analysis.