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Not until a few years ago, a gigabyte was considered a lot of information. And then came terabyte which is considered equivalent to 1000 gigabytes. Beyond this there’s exabytes, zettabytes, yottabytes and then….probably nothing! There’s so much information in the world that people are running out of terminologies to quantify them. The real problem however, is not in the quantifying, but in the storing. Where do we store all this data? This is where cloud computing comes into the scene.
In fact, researchers predict that within the next five years, nearly 50% of all information would be on the cloud. Various studies report that;
a) People are likely to spend $180 billion on cloud based services by 2015
b) The US alone is likely to spend $13 billion on cloud backup and server backup services.
c) The Asia Pacific region alone is likely to generate around 1.5 zettabytes of cloud computing information by 2016.
And the biggest beneficiaries of this revolution would be small and medium based companies. These companies cannot afford to spend thousands of dollars on enterprise quality hardware, nor can they afford to spend on specialized IT departments. Cloud backup solutions seem to the ideal solution because;
a) The money spent on buying and maintaining expensive hardware can be saved.
b) Operating costs can be reduced as businesses don’t have to spend on buying and updating business software.
Cloud computing can also help these companies to analyze their data and predict future trends. Predictive analysis was limited, until now, to large companies and financial institutions as this required spending money on a number of servers and storage racks. But cloud computing makes predictive analysis affordable for small and medium businesses as well. In fact, a research conducted by Decision Management Solutions and SourceMedia revealed that almost 60% of respondents planned to incorporate cloud based predictive analytics. Companies can use this data to predict consumer behavior and make better decisions.
As dependence on cloud computing increases, security concerns regarding the safety of data continues to grow. In fact, data theft is a major point cited by businesses reluctant to adopt cloud computing. They’d rather keep everything in-house rather than worry themselves to death about possible cyber attacks. Cloud backup servers have to come up with some strong strategies and security measures to ease their worries. And they are doing their best. For instance, at Dataedge we offer AES 256 encryption during data transfer and also while at rest at our two tier 3 data centers. This is an advanced cipher used by the US government to protect top-secret data, and has not been cracked until now.
Everywhere around the world, businesses are transitioning toward cloud backup and those who prefer to ignore this are doing so at their own peril.