Which Cloud Solution the is Best for Your Business?
Which Cloud Solution the is Best for Your Business?
Today, businesses of all sizes are adopting cloud-based technology solutions for business agility and fast growth. Cloud solution services are offering to transform the way businesses access technology and store data.
Instead of renting expensive servers, or deploying and maintaining software applications, companies can now quickly access their desired services and apps through subscription. These benefits are resulting in the tremendous growth of the cloud computing industry.
In 2020, the global cloud computing market was valued at around 371 billion USD, and this value is expected to rise to 832 billion USD by 2025. [1]
Let’s see below how cloud computing delivers key benefits. But first, what is cloud computing?
What is Cloud Computing?
Basically, cloud computing is the delivery of on-demand computing services – from applications to cloud storage and processing power – typically over the internet and on a pay-as-you-go basis. Organizations generally discharge only for cloud services they use, helping them reduce their operating costs, run their infrastructure more effectively, and scale as their business requirements change.
Instead of owning their own computing infrastructure or data centers, organizations can rent access to anything from applications to storage from a cloud service provider.
Key Benefits of Cloud Computing
1. Flexibility
For most businesses, computing and storage requirements vary significantly over the year. Some months are busier than others. For example, in the case of a finance budgeting app, the quarter in which budgeting is done will typically be the time when the application is used most extensively.
In other months, the usage will drop too. Similarly, for an e-commerce app, the usage will peak around Black Friday and lean for a long time outside of that. Cloud computing makes it easier for businesses to provide resources as they see fit and lean in other times.
2. Data Security
Cloud computing solutions help in data redundancy since they store the data in multiple locations across the globe. Therefore, in case a server becomes unavailable, the data is fetched from redundant servers. Additionally, cloud computing providers generally utilize superior storage protocols to keep your data safe and secure.
3. Low Operating Expenditure
With physical servers, companies have to invest in their regular maintenance and upkeep, hire technical people, and invest in real estate to keep these servers. Companies don’t have to provide the servers themselves with cloud computing as the cloud providers utilize the economy of scale to deliver superior PaaS, IaaS & Software as a Service (SaaS) solutions.
4. Ease of Access
Cloud computing also makes it easy for personnel to access resources through the internet and with simple account-based access.
With all these benefits that the cloud service provides, businesses need to identify the best cloud solution partners that can deliver maximum benefit to their business at the lowest cost.
Opting for a cloud-based solution doesn’t mean that your problems will completely vanish, since you must understand your business complexities and how to utilize the correct cloud option to maximize business value.
Let’s take a look at some major cloud solutions available for businesses.
Types of Cloud
1. Public Cloud
A public cloud is an IT model where on-demand computing services and infrastructure are managed by a third-party provider and shared with multiple businesses using the public internet.
Public cloud computing is delivered across the internet and shared by many organizations. This is highly common as it provides for a low Total Cost of Ownership (TCO).
While the services of the public cloud solution offer different benefits at a much lower cost compared to other options, it is also less secure; hence businesses must consider their data security needs before choosing to proceed with the public cloud.
2. Private Cloud
Private cloud computing, also known as an internal, gives businesses many of the benefits of a public cloud – including self-service, scalability, and elasticity.
Yet, unlike the public cloud, private cloud computing provides dedicated and secure resource storage and access. The private cloud can be customized to meet your business’s unique requirements in terms of business and security needs.
However, this also tends to be costlier than the public cloud. In case you have to store business-critical data, such as financial data, utilizing the private cloud for this is a good option.
Private cloud provides businesses with better control over their IT workloads and its supporting infrastructure.
3. Hybrid Cloud
Hybrid cloud combines the best of both worlds – public cloud and private cloud, delivering benefits in terms of fast and economical resource delivery.
A typical approach would be to utilize the public cloud to store non-sensitive data while utilizing the private cloud for storing sensitive and business-critical data.
However, managing the hybrid cloud environment can increase management overhead and related costs for the business. Technical compatibility and orchestration of the integration points between the public and private cloud are also critical to managing.
Learn more about the benefits of the hybrid cloud.
4. Multi-Cloud
In the multi-cloud strategy, businesses leverage 2 or more cloud computing providers to manage their IT workloads and support their diverse business functions.
The advantage of this approach is that businesses do not have to rely on the expertise of a single vendor or provider. Generally, companies can use several different vendors or combine to meet both their public and private cloud needs.
Multi-cloud is emerging as a useful cloud computing strategy in modern times, especially as it also helps to avoid vendor lock-ins. A single vendor may not be ideal at providing the entire range of cloud computing services that your business requires.
However, it is important to note that a multi-cloud environment is different from a hybrid cloud. While a hybrid cloud refers to the mixing of private and public clouds, multi-cloud refers to several different cloud computing providers.
There are several reasons why the multi-cloud approach is becoming popular with businesses.
The multi-cloud strategy provides greater flexibility to organizations to pick and deploy the exact cloud computing solution for their different workloads and business needs. This prevents them from getting tied down to a particular vendor, which might be pricier.
Multi-cloud deployments also provide better support and protection against DDoS attacks, which can be very disruptive to your business. Lastly, the multi-cloud approach will also prove better in disaster recovery.
Empower Your Digital Journey
We have touched on the major cloud computing solutions that businesses are using to drive their work with agility and performance. While it is helpful to understand the different models that are available for you to choose from, the ultimate decision will depend on your specific business needs.
The public cloud is the most widely deployed model; however, today companies are increasing their investments in private, hybrid, and multi-cloud approaches. As cloud computing becomes central to how businesses operate, choosing the right deployment model will help businesses deliver the maximum benefit at the best ROI.
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Sources:
[1] https://www.globenewswire.com/
