Benefits Of Cloud Storage That Can Send Your Productivity And Profit Off The Roof!
The Cloud (Definition) –Technically speaking, it’s a communications network. It can be a WAN; a LAN within an organization; or even a global network. In information technology, the world “cloud” usually refers to the internet. And when it comes to data storage and protection, the cloud offers a ton of business benefits you don’t want to miss!
In a paper published by Markets&Markets, it was estimated that the market for public and private cloud storage will grow from $13.57 billion (2014) to $56.57 billion (2019). That translates to a Compound Annual Growth Rate (CAGR) of 33.1%, which is nothing short of impressive!
So why are businesses – especially small- to medium-sized enterprises – switching to the cloud for their storage?
There are many reasons, but I’d like to draw your attention to the following 3:
Faster And Easier Disaster Recovery
It was in 2005 when Hurricane Katrina demolished the USA’s Gulf Coast. It destroyed $200 billion worth of property; decimated the whole communications infrastructure of the whole area; and toppled 1,000 wireless towers along with 11,000 utility poles. For a business to survive that magnitude of destruction, it needs a good disaster recovery plan (DRP).
Also known as business continuity plan, disaster recovery acts like an insurance policy for your business’ vital information. With cloud storage and cloud-based services however, companies no longer need to device convoluted DRPs. The cloud storage providers take care of it and they are armed with the know-how and equipment needed to do it faster.
Just take a look at the recent survey performed by Aberdeen group. The survey looked into the IT disaster recovery trends across companies (of various sizes) that uses the cloud for storing data, creating backups, and disaster recovery.
Here’s what they found out:
- Medium sized enterprises ($50M to $1B annual revenue) accounted for 48% of the users surveyed
- Small companies (Under-$50M annual revenue) composed the second largest group – 38% of the users surveyed
- Large companies (Over $1B annual revenue) represented the smallest group at 26%
Here’s what’s really interesting:
The mid-sized business – the group with the biggest percentage of cloud adoption – had an average length of time per disaster recovery event of only 4 hours. The large companies, on the other hand, had to endure 7.7 hours of downtime.
Easier Maintenance& Increased Productivity
Webroot – the very first internet security service company – carried out a survey that involved 271 IT decision-makers in the UK. The survey revealed that these companies, which have anywhere from 100 to 5,000 employees – spent 18 working days or 143 hours to manage security services along with software and hardware updates.
Think about that: 18 working days spent in a month just to manage updates. Companies can easily find an income-boosting project or two that can benefit from 18 days of focused effort.
With cloud storage and computing, businesses enjoy reduced IT workloads and costs. For starters, the service provider is responsible for managing hardware, software, and security-related updates. This means you can adopt a forward thinking approach and funnel your staff’s talents and expertise to projects that can boost your bottom line.
Better Collaboration& Work-Life Balance
No matter where your employees are, they can work as long as they have a reliable internet connection.
With cloud storage and computing, employees can better collaborate on projects – simultaneously work on shared apps and documents; follow instructions from supervisors; and receive important updates in real-time – even if they’re on their pajamas!
In a recent survey carried out by Frost & Sullivan, they discovered that companies which invested in cloud storage and collaboration technologies enjoyed a 400% ROI.