The cloud has made a huge impact on both people’s daily lives as well as business. There has been a marvelous synthesis between social connectivity trends and technology across sizes and industries to harness the cloud and drive business innovation.
But, according to a recent study, there are very few organizations which are actively using the cloud to its full potential. Even though it is accepted widely as a game changer when it comes to technology with the potential to change internal operations, industry value chains, and customer relationships, most companies aren’t adopting cloud-enabled models of business.
Cloud computing has been defined as the delivery of storage and computing capacity in the form of a service to a community of end-recipients.
Businesses around the world are recognizing cloud as a very important technology and adopting strategies involving the cloud to try and reduce the cost and complexity associated with regular IT approaches. Out of the 527 technology and businesses executives surveyed, around 3/4th said their companies had adopted, piloted, or implemented the cloud in their organizations. 90 percent of them said they would do it within 3 years. Just 13 percent have implemented the cloud substantially, but this number will grow to 41 percent over the next 3 years.
The cloud seems to have a great presence as far as IT is concerned too. Around half of the survey takers indicated that they evaluate all cloud options before going in for traditional approaches when it comes to new IT investments.
Even though a high percentage of large organizations are now going with cloud solutions, small organizations are now jumping on this bandwagon too. 67 percent of small companies and 76 percent of medium companies are using the cloud at one level or the other right now.
Businesses are using cloud capabilities for enhancing internal efficiencies while improving business capabilities too.
Cloud is now making a mark, and it doesn’t look like it will be going anywhere soon. By 2020, the cloud computing market will grow by 22 percent. But, this growth is only going to happen if organizations continue recognizing and embracing the cloud as not just a solution for IT, but also a technology that has a lot of business potential across every function. Businesses, nowadays, don’t fully understand how powerful the cloud can be when it comes to driving business innovations.
Just 38 percent cite cloud as a priority for their company while 62 percent cite cloud as the priority for the IT department of their organizations.
Only 16 percent of the respondents use the cloud currently for innovation like entering new lines of industry or business, reshaping industries, or taking on new roles in the value chain of their industries.
Even though the number of businesses which use the cloud for delivering and creating business value nowadays is very low, 35 percent of the respondents said they are going to rely on the cloud for innovation of their business model in the next 3 years.
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