What Are the Economic Advantages of the Cloud?
The public cloud offers several cost-saving and profit-making advantages. According to Salesforce, over 90% of businesses that adopt the cloud increase their security. These businesses save money that would go on remediating security risks.
The cloud also eliminates capital expenditure; small businesses can quickly deploy problem-solving solutions to the market.
Cloud computing is a disruptive technology. Analysts expect it to hit a 700 Billion dollar market cap by 2028. In fact, the cloud is responsible for this massive outburst of the SaaS business model. Small businesses and large enterprises can reap substantial economic advantages by adopting the cloud.
Top Seven Benefits of Using the Cloud
Here are seven main advantages of cloud computing:
Zero Upfront Costs
The public cloud allows first-time users to try out services at no upfront costs. The low sign-up fee helps individuals and startups to test the cloud before making any long-term commitments. Popular cloud providers like AWS, Azure, GCP, and Oracle have free tier programs. Apart from time-limited free-tiers, you can leverage an as always free-tier. With always free-tier, you can access compute capacity in the cloud for free, as long as you don’t exceed set limits. While the free tier has several services, a free trial applies to specific products and services. You can find 30-day and 90-day free trials on most cloud service providers.
Unlike an on-premise environment, the cloud environment helps businesses scale faster. To scale an on-premise environment, you’ll need more servers, more storage devices, and more humans to maintain equipment.
With the cloud, scaling doesn’t always mean increasing resources. Cloud optimization can help you get more efficiency for the same input of resources. Furthermore, the cloud has a flexible way of deploying resources. Auto-scaling features allow users to configure rules that increase capacity when the need arises. The cloud makes it easy to scale in just a few simple steps.
Improved Data Security
Evidently, the cloud is more secure than a traditional computing model. The cloud has a wide array of cloud engineers who make an environment that counters the most prevalent threats like malware, identity theft, and DDoS (distributed denial of service) attacks.
Like any IT system, the cloud has security pitfalls. However, if an organization follows security best practices, you can have fault-tolerant applications. Even if there’s a security breach, the cloud has backup machines for easier disaster recovery. Big organizations like the Department of Defense trust the cloud as a secure way of handling confidential information.
Better Collaboration Between Employees
Cloud adoption has led to the emergence of project management software like Asana, Trello, Bitrix24, and others. Through these platforms, users can collaborate and work on projects remotely. In addition, project management software sends instant email notifications tagging employees to an appropriate task.
People can now use worksheets to collaborate on one project. Users can also get quick feedback on their work by sharing it over the cloud. The cloud offers storage solutions, which help organizations conduct employee and customer onboarding online.
Faster Time to Market IT Products
Cloud users can use a CI/CD in their lifecycle to deploy applications faster to their end-users. The CI/CD process ensures developers give quality applications in a short time. Several features make the cloud deploy quality applications faster to market:
- First, the cloud has several applications for easy integration. These no-code platforms eliminate the time needed for coding.
- The cloud uses a pay-as-you-go model, which helps people pay for what they need. There is a minimal lag in projects due to budgetary constraints for these reasons.
- The cloud has organization accounts, in which users can create multiple IAM accounts, each account for each department. This collaboration offloads work from the IT business unit, allowing them to focus on productive work.
Greater Flexibility & Compatibility
The cloud offers flexible payment options for its services. You can pay all upfront, partial upfront, or no upfront fee. The cloud also offers discounts for longer commitments.
The cloud also uses API technology to enhance compatibility among various applications. The hybrid cloud also offers flexibility to work with both on-premise and public cloud facilities.
Suitable for Dev-Test Environments
The cloud offers a good lab for testing the effectiveness of ideas before releasing them to the marketplace. You can use the pricing calculator to forecast future spending based on real-life costs. The cloud also uses AI and machine-learning technology to give deep visibility to your infrastructure. You can get an exact forecast of your future costs from these visibility tools. Cloud users can also use special offers available for researchers and students. For example, GCP gives up to 624 GB Ram for one hour to students who train through Qwiklabs.
The Bottom Line
There are numerous benefits to using the cloud. The cloud platform you choose depends on your individual business needs and preferences.
nOps allows you to run secure, reliable, high-performing, and low-cost workloads so you can enjoy the above benefits.