The worldwide public cloud services market is projected to grow 17.3 percent in 2019 to total $206.2 billion, up from $175.8 billion in 2018, according to Gartner.
Top 5 top reasons for adopting Cloud Computing are:
What is Cloud Agility?
Cloud agility is the ability to rapidly change an IT infrastructure to adapt to the evolving needs of the business. For example, if your service peaks one month, you can scale to demand and pay a larger bill for the month. If the following month the demand drops, you can reduce the used resources and be charged less. This agility lets you manage your costs dynamically, optimizing spending as requirements change.
Cloud computing provides quick access to computing resources. It is important that your business eliminates any process related bottlenecks immediately.
Elasticity is a big benefit of cloud computing. If your business experiences user demand fluctuations, then public cloud elasticity can be advantageous.
For example, retail ecommerce platforms have to be ready to handle surges in user traffic on Black Friday. Similarly, Pizza companies like Domino Pizza have to handle massive amounts of online orders on SuperBowl.
With cloud elasticity, businesses can scale resources to manage these limited time spikes.
Scalability is another key consideration. Unlike elasticity, scalability is a more planned way of adding cloud resources to meet your organizations growth needs on a monthly, quarterly or annual basis.
Innovation is a top mandate for most companies. Frequent experimenting can be limiting on premises due to the high upfront financial investment.
Cloud offers many different capabilities like IoT, Artificial Intelligence, Machine Learning, Bots, Advanced Analytics for businesses to run these experiments quickly to improve their products and services.
Time to market is critical to bringing differentiating capabilities to end users. As an example, a lot of companies are implementing Intelligent Bots to help with customer service, HR Q&A and general helplines.
Economies of scale is the ability to do things more efficiently or lower cost per unit when operating at larger scale. This cost advantage is a big benefit of cloud computing.
Microsoft, Amazon, Google are delivering hyperscale cloud leveraging economies of scale at a significantly lower price point. Cloud providers strike deals with local governments and utilities to receive tax savings. This allows cost savings on power, cooling, network connectivity which are then provided back to the customer in the form of lower cost per unit.
Your business owns the responsibility to implement cost monitoring to ensure that cloud services are being consumed in a controlled manner.
Within cloud computing, resiliency refers to redundant IT resources within the same cloud (but in different physical locations) or across multiple clouds. Cloud consumers can increase both the reliability and availability of their applications by leveraging the resiliency of cloud-based IT resources. You should review every vendors cloud services SLA’s very closely.