The global cloud computing market is projected to grow by a CAGR of 18.6% to $760.98 billion by 2027. Cloud computing is undoubtedly the next giant in enterprise technology. While cloud computing is not a new phenomenon, most organizations have not incorporated it into their IT infrastructure until recently.
Cloud computing is gaining popularity as more businesses make this primary switch for their data storage. It’s no brainer that cloud computing has significant benefits in a firm’s IT process. However, you don’t want to rush this decision.
Understanding the advantages and disadvantages of cloud computing is crucial before incorporating the technology into your business. Keep reading to know if cloud computing is right for your business.
The Advantages and Disadvantages of Cloud Computing
Cloud computing has become a central part of our lives. Whether established or upstarts, businesses embrace cloud computing due to its unmatched benefits. While cloud computing has several upsides, it has its exceptions that you need to know.
Advantages of Cloud Computing
The myriad benefits of cloud computing can be attributed to its spontaneous surge. Here are some of the cloud computing advantages that you stand to enjoy.
Cost reduction tops the list when analyzing the merits of cloud computing. Good servers are not cheap, and you’ll have to spend thousands of dollars to have the hardware functioning optimally. Ongoing hardware and software maintenance will also set you some dollars back every month.
What’s more, you’ll need a secure room where you set up the data system. The servers further require continuous cooling, meaning that you might end up incurring unusually high air conditioning costs. Getting the software licenses for these programs is also costly.
With cloud computing, you’ll save on various costs for your company. The cloud provider will be responsible for the infrastructure, utility management, and infrastructure. Besides, you won’t need to hire trained personnel to handle the hardware.
When analyzing the advantages and disadvantages of cloud computing, reliability tops the list of benefits. If you have your own servers within your premise, hard drive failure can make you incur unbelievable losses. Your server-based apps and data will be unavailable unless you have a redundant array of independent discs.
Cloud providers have multiple servers where your data is stored. When one server experiences downtime, you can still get your data. Reliable cloud computing providers can even guarantee you about 99.99% uptime.
If there are changes with the servers, the providers will notify you on time. You can read this article to understand more about computing and how it promotes reliability. It’s never too late to make the transition!
With the growing competition, having the latest applications is the best way to stand out. Cloud computing will allow you to access several apps, which will improve your functionality. The best part is that you don’t have to invest money and time in installation.
The cloud computing provider will also be maintaining the application for your company. You can focus your resources on other activities that will make your business remain competitive.
The average cost per breach in the U.S. has increased to $8.19 million as per a 2019 survey. Data breaches have become quite common. It would help to have a secure server to ensure that your employees’ and customers’ details are safe.
Arguably, cloud computing has more security features than in-house computing. Cloud providers follow several established standards to enhance your data’s security. They have several security features including;
- Advanced perimeter firewall
- Data-at-rest encryption
- Internal firewalls for databases and each application
- Intrusion detection systems
- Strong physical security in data centers
Disadvantages of Cloud Computing
It would help to know the advantages and disadvantages of cloud computing before transitioning. Cloud computing has several downsides that you need to know. Here are some of the disadvantages of cloud computing.
One of the main concerns with cloud computing is possible downtime. While servers are unlikely to have downtime, limited access to the internet can hinder apps and data usage. If you don’t have internet access, you will not use the cloud.
You can address the downtime issue by having solid mobile data plans. However, the option is quite expensive, and mobile devices often have limited battery life. When the power runs out, you will have a more significant issue of trying to access cloud services.
You’ll Have Limited Control
Once you move your services to the cloud, a cloud provider will control your information and data. You’ll have to trust that the cloud providers will store and manage your data in the best way possible. If you want to completely control your data, outsourcing to cloud computing providers might not appeal to you.
Cloud computing offers unmatched security, yet it can also present a security risk. It is crucial to understand that cloud technology means sharing even your most sensitive data with third parties. Malicious people or malware might gain access and use the data for their selfish gains.
Changing cloud computing vendors is quite challenging. Disengaging and engaging with a different vendor might limit your ability to integrate your business programs with the new provider. Applications working with one platform might be incompatible with the new one.
The transition can further pose a risk to your entire data system. The inflexibility can be discouraging, especially if you are unsatisfied with your current vendor.
You Need to Know the Advantages and Disadvantages of Cloud Computing as a Business Owner
Cloud computing is efficient and cost-effective. When you check out the advantages and disadvantages of cloud computing, you’ll realize that the benefits outweigh the limitations. However, it would help evaluate the advantages and disadvantages of cloud computing before making this significant move.
The analysis will help you establish if cloud computing resonates with your business. Nonetheless, it’s hard to deny that cloud computing will transform your business in a significant way. The technology is here to stay!
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