Five Benefits Of Cloud Migration Every CEO Needs To Know
When an organization wants to migrate to the cloud, it shifts from on-site software infrastructure and in-house server capabilities. The objective is to improve the agility and flexibility of the existing framework.
As an organization, regardless of size, you are always competing against your competitor in terms of technology, product offerings, etc. The large corporation has a resource to accelerate deployment to market or reduce costs, etc. Cloud services are helpful to small and medium enterprises.
The pandemic has accelerated the shift to cloud services. According to a report from the Hosting tribunal ”83% of enterprises already use a cloud service, the market is expected to reach $623.3 billion worldwide by 2023. In addition, Gartner’s research indicates that more than a third of organizations see cloud investments as a top-three investing priority, which is impacting market offerings.
Cloud computing offers a huge competitive advantage and has become key for an organization that wants to grow and thrive.Â
Here are the main benefits of cloud migration :
1) Faster development and deployment to market:
Introducing product features and providing a superior customer experience in a dynamic marketplace is make-or-break. Moving to cloud service ensures faster deployment of applications and services due to the solution provided by the cloud service provider.
A faster deployment cycle helps you get quick consumer feedback and gain market share. Hence, It will improve the bottom line and overall ROI.
2) Reduction in fixed costs:
Maintaining the in-house servers requires significant hardware, workforce, and regular maintenance investments. For Migrating to the cloud your organization doesn’t need to balance hardware and workloads.
In 2015, wasted energy and inefficient servers and hardware cost the US economy over $30 billion. Cloud computing helps you reduce the fixed costs and save the use of servers efficiently.
3) Lower your data security risks:
Another important reason to mitigate the data security risks. Migrating to the cloud reduces your security footprint. When rightly implemented, cloud services can offer more security.
Cloud service providers take strict measures to ensure security and safeguard data from attacks. Subsequently, the service provider makes a regular update in security against prone attacks.
4) Improve the operational efficiency:
Â Cloud services help you have fewer in-house controlling groups and focus on your core competence while your cloud service provider takes care of your repeated tasks.
5) Ensure Business Continuity during Disasters:
The In-house data center is prone to risks like power outages, natural calamities, etc., which ultimately affect the business.
Power outages cost US businesses over $27 billion per year. This number can increase to as high as $5 million per hour for factories. Even smaller supermarkets could lose as much as $30,000 per outage.
Â The data center is in multiple locations, zones and measures from cloud service providers to mitigate risk from natural disasters, power outages, etc., ensuring business continuity.
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