It’s safe to say that cloud computing is the next “big thing.” Cloud computing is the storing and accessing of data and programs through the internet, rather than through physical means such as hard drives. Basically, the cloud is just a fancy term for services accessed over the internet. Forbes Magazine stated that, “55% of enterprises predict cloud computing will enable new business models in three years.” With that being said, it is expected that a large amount of enterprises will be making moderate-to-heavy cloud investments in the near future as they transition into full reliance on cloud technologies. Many are depending on the cloud to launch new business models, help streamline their supply chains, and provide applications and platforms to better manage and analyze data.
An Oxford Economics and SAP study of cloud computing generated key points that were found by comparing a recent survey to one conducted a few years ago. Forbes Magazine shared these points, some of which include:
- Top-line growth, collaboration among employees, and supply chain are the three areas enterprises expect cloud computing to impact most in three years.
- Developing new products and services, new lines of business and entering new markets are three key areas in which cloud computing is transforming enterprises.
- 58% of enterprises predict their use of cloud computing will increase top-line revenue growth in three years.
- 67% of enterprises say that marketing, purchasing, and supply chain are somewhat and mostly cloud-based as of today.
As the cloud automation becomes more and more efficient, human intervention within firms become less and less frequent, which allows for IT to spend more time on strategic planning endeavors. CloudTech stated that, “Orchestration is particularly effective in helping companies lower expenditures and maintain a sound ebb and flow of work in the IT department, which is why so many firms are looking to get a handle on this tricky matter.” The cloud will continue to evolve over the next few years and the demand in the market will continue to grow. It is predicted that, in time, almost all companies will be reliant, in some way, on the cloud.