Everyone in the business world has found themselves infatuated with the cloud and all of the business opportunities that it is opening up in the digital age, leading many of them to question what the future holds for the cloud and how we use it. Far too often, however, business owners and IT analysts are making a mistake when it comes to predicting the cloud's future – namely, they're not paying enough attention to how crucial data-driven resource management will be.
Here's why data-driven resource management is the key to the cloud's continued success in the future, and what business owners should start studying up on if they don't want to get left behind by the competition:
Data is the world's most valuable resource
A few decades ago, you'd be forgiven for saying that such things as oil or gold were the most valuable commodities in the world, but in the digital age data has become "king cotton." That's because business decisions made with the help of huge sums of data, sorted and analyzed by complex algorithms, have come to define how most companies operate in the 21st century. Thus, when it comes to discussing the future of the cloud, we should begin our conversation with by foraying into the world of data analytics and data-driven resource management.
To put it simply, cloud storage servers are becoming treasure troves of data. The storage centers that countless businesses rely on today to store their colossal sums of information are packed to the brim with valuable insights into the behavior of consumers and competitors in the marketplace. It can thus be safely stated that the cloud's future is going to be decided by those who learn how to most effectively leverage that data for their own business purposes. Given that the cloud computing market is on track to grow rather explosively over the next few years alone, it's imperative that entrepreneurs and managers start hitting the books to read up on resource management and the cloud.
They should start with data security, where thus far cloud services have let the public down on more than a few occasions. Consumers everywhere are growing more concerned about data security and privacy, which should worry those who think that the cloud is a secure place to store treasure troves of information. The very nature of the cloud means it's not always secure; if you're giving up your information to somebody else to store, you're necessarily rendering it vulnerable by ceding your right to protect and manage that data to someone else. More and more, business owners and IT specialists will have to ask themselves tough questions about whether they should trust the cloud.
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It's about cutting costs and making smart decisions
The cloud's future will be decided by those who can cleverly manipulate it to cut the costs of doing business while making better-informed decisions in the marketplace. If you take a look at academic research that dives deeply into the issue of cloud computing, you'll see that the world's largest companies are using complex algorithms to sort through the huge sums of info they keep on the cloud to derive important insights from consumer data. Businesses everywhere will have to start doing this soon – if you're not managing your spending at least in-part by referencing data stored on the cloud, you'll likely soon be making erroneous decisions.
In the near-future, both senior company management figures and IT specialists will have to turn to the cloud for business process outsourcing, before making virtually any sort of decision. Whether it's choosing to onboard new employees or retrofit your training process, the answers to your questions are likely to be found in the data lake of cloud computing servers. Keeping that information secure, accurate, and readily available will thus grow to become the defining market imperative of the early 21st century.
Businesses that haven't yet begun investing in cloud computing will want to get started if they're worried about their competitiveness going forward. Investing in the cloud is essentially an arms race, and you'll need to bring in talented, tech-savvy workers as well as complex algorithmic processes capable of sorting through mountains of information. There's no one-size-fits-all approach to data-driven resource management in the cloud; you can't just rely on people or machines, but rather will need a complicated mixture of both that you arrive at through trial and error.
Despite the head-first rush into cloud computing, those who are still behind the times aren't totally done in for yet. By beginning to take cloud computing services seriously and by embracing data analytics in your everyday operations, you can level the playing field and get your business ready for the digital era. As billions of dollars continue to flock towards the development of digital resource management and the cloud, the future will be defined by those who dream big but keep their feet on the ground all the while.