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Understanding Cloud Computing for Businesses

3 min read

In the information age, it’s not uncommon for new ideas to step in and present technological leaps that can potentially change the world. That said, few are as significant as cloud computing. That said, before you decide on whether to embrace the latter, it would be prudent to seek a good understanding of the matter and all its’ implications.

According to a study by 451 Research (a global market intelligence company), 90% of companies worldwide use some form of cloud computing as of 2019. Demand for cloud computing is expected to reach more than 623 billion by 2023.

So what exactly is cloud computing and why the massive surge in growth? In this article, we aim to provide an overview of the matter. Only then can you determine whether your business should follow suit.

What exactly is cloud computing?

The IT industry defines cloud computing as a network-based computer model designed to provide users with on-demand access to a pool computing resources (software, web servers, data storage, etc.). It is different from traditional IT solutions. It can be provisioned rapidly with little effort and cost for users.

What does any of that mean for businesses, though? Well, you can think of it as a “lease versus ownership” type of thing. That is to say, cloud computing is an operational expense as opposed to capital investment.

A clever analogy on cloud computing

According to Levit8 IT Solutions (a managed IT services company), an easier way to understand cloud computing is to think of it like your home utility bill (water and electricity). People consume a specific amount of electricity and water every month. The utility company keeps an eye on usage and bill people the corresponding amount.

Most people don’t have their own source of water and electricity at home as that would be expensive and impractical. Instead, we outsource these resources from a consolidated source (the utility company). Cloud computing basically works the same way — numerous users turning to a shared and centralized source for their computing needs on a pay-per-use arrangement.

Some experts might disagree, but in a way, cloud computing isn’t all that different from when computers were first introduced. Back then, computers were a luxury that only a few businesses could afford. As a result, many companies leased computers from certain companies on an as-needed basis.

Is cloud computing for you?

As you may have already realized, cloud computing offers advantages that are too significant for businesses to ignore. Some might go as far as to say that cloud computing is the next big thing since the advent of the internet.

Of course, like any technological leap, cloud computing is not without its share of downsides. For one thing, ease of access means a much greater risk for breach of data confidentiality. Hence, one should not only look at the advantages but the inherent dangers as well. Only then can you leverage cloud computing to serve the short and long term goals of your business.

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