In 2020, if you are still evaluating whether or not to embrace cloud migration, you are already behind 90% of companies, according to a study by 451 research. Most of these companies also use a multicloud approach. This means that cloud adoption is already mainstream, and a vast majority of the enterprise workloads are already on the cloud.
There are plenty of reasons businesses are choosing the cloud over traditional ways of computing and data storage. Just like any other new technology, cloud migration comes with a few risks and drawbacks. However, the benefits far outweigh these limitations.
Here are some practical reasons cloud migration is a good choice for businesses of all sizes.
The cloud offers better insights from big data.
Businesses generate huge volumes of both structured and unstructured data on an everyday basis, collectively known as big data. According to a survey by Accenture, 79% of businesses agree that companies that don’t embrace big data may lose their competitive advantage and might even go extinct.
Deriving valuable insights from big data requires cost-effective ways of information processing. Your on-premises storage systems may not be able to keep up with high-volume data generation in the long run. Even if you try to do everything the traditional way, you need substantial investment in your infrastructure to make this happen.
Most importantly, your on-premises data warehouse may not be able to support advanced analytics solutions capable of rapid information processing. By moving to the cloud, you can gain valuable insights from your data and make data-driven decisions.
The cloud is flexible and scalable.
One of the major benefits of using the cloud is its scalability. Many businesses in their growth phase have leveraged the cloud to manage their bandwidth requirements. Cloud services can scale up or down very easily based on user requirements very easily. If you use only on-premises infrastructure, you need to invest heavily in physical servers, networking equipment and software licenses to scale up your growing business.
Cloud services are also exceptionally flexible. They don’t tie down your people to one particular location. Any internet-enabled device, including laptops, smartphones or notebooks, can be used to access and share critical documents for strategic business decision-making. Businesses need this level of flexibility to grow in a crowded market.
The advantages of cloud have been clear for all to see during the Covid-19 pandemic. Businesses that were on the cloud were able to adapt to the new remote working norms much quicker and more efficiently compared to their noncloud competitors in the same industry.
The cloud drives collaboration efficiency.
Cloud computing can also enable great efficiency in the work processes of various organizations. Cloud technology allows collaboration on a much larger scale among employees within an organization. It allows multiple users from different departments to access the required information.
With cloud technology, businesses can overcome geographic restrictions and set up a multiregion infrastructure that can be accessed from anywhere. This drives better collaboration efficiency among overseas teams and contributes to business growth.
When businesses combine cloud technology with managed services, they can share information efficiency, prevent a lot of human errors and speed up the decision-making process. This helps them boost productivity by focusing on core tasks that matter.
The cloud ensures business continuity and disaster recovery.
The cloud has dramatically changed how businesses store and retrieve data. This especially comes in handy when businesses need to recover quickly following an unforeseen disaster. A study by the Diffusion Group found that 60% of businesses that witness nonrecoverable data loss tend to close down within six months after the disaster.
With the lurking threat of ransomware and physical damages, businesses need something to count on when disaster strikes. Cloud backup helps businesses recover their data quickly so they can continue their operations without any downtime. Eliminating downtime is critical for businesses that want to survive and remain competitive following a data loss incident.
Even during the ongoing pandemic, the cloud has helped companies stay operational and continue their business from anywhere.
Cloud computing is simple and cost-effective.
Scaling up using on-premises infrastructure is an expensive affair. It requires additional investment in hardware, network equipment, software licenses and in-house technicians. When you factor in maintenance installation costs, these expenses go through the roof. Also, infrastructure is generally prone to physical damages attributable to disasters such as floods and fire.
When you move to the cloud, you can eliminate the investment you make in redundant infrastructure. Although cloud computing involves initial setup costs and training, you can achieve economies of scale at a much faster rate compared to on-premises infrastructure. Cost-effectiveness is one of the major reasons businesses across the globe are choosing the cloud over traditional systems.
It's time to get cloud ready.
When you switch to the cloud, it is important to have clear cloud adoption policies to guide your staff and provide them with the necessary training to use this technology safely. If you are doing this for the first time, you need to plan your cloud adoption in stages so that it fully integrates with your organization’s infrastructure. Most importantly, you need to identify the issues you are likely to encounter, including problems with bandwidth, legacy applications, data compatibility, etc., and come up with potential solutions.
You must understand that cloud projects are complex, and it might take time to develop the necessary skill sets for all the functionalities involved. However, with careful evaluation of your strategy and continuous improvement in cloud adoption efforts, you can successfully become a cloud-first organization.
In today’s world, by not moving to the cloud, you run the risk of falling behind your competition and losing your competitive edge. With a strong cloud strategy, you can create a sustainable road map for growth and future-proof your business.