5 Ways Cloud Computing Helps CIOs And CTOs Accelerate Digital Transformation !

Cloud computing has revolutionised the way organisations approach technology, making it easier and more efficient for CIOs and CTOs to drive digital transformation. It is a game changer and the backbone of numerous companies.

From creating databases and data storage to networking software, it is an invaluable tool. In 2022, the market size of the global cloud computing industry was $480.04 billion. Amazon Web Services owns 32% which is the largest market share compared to its competition.

With a continuous increase in the number of companies using cloud computing, it is certainly worth investing in. This article mentions how cloud computing helps CIOs and CTOs accelerate digital transformation. If your business is looking for help to invest in this, reach out to Growth Jockey for help!

Cloud Computing

Imagine you are the owner of a small software development firm and want to expand your business. Unfortunately, your small team, the unpredictability of demand and limited resources prevent you from doing this. Here is where cloud computing comes in.

Cloud computing is a model that delivers IT services over the internet instead of being provided locally. It involves delivering a range of computing resources that include databases, storage, servers, analytics, intelligence, networking, and software over the internet. Along with this, it offers faster innovation, flexible resources, and economies of scale.

Every business has a set of data that needs to be shared or accessed throughout the organisation by various departments. The data needs to be stored in a place that makes it easy to retrieve.

Traditionally, companies relied on the server hardware to store and access data using the local network that is located on-premises. However, with the rise of digital transformation, multiple companies have begun to use cloud.

Here are some of the differences between an on-premises set-up and cloud computing-

Scalability

Setting up on-premises costs more and gives you limited options. Once you scale up, it becomes hard to scale down. This usually leads to losses in terms of infrastructure and maintenance costs.

On the other hand, in cloud computing, you only have to pay for how much you use. It has much easier provisions to scale up or down.

Server Storage

On-premises, systems require a lot of space for their servers. They also come with several power and maintenance hassles.

Whereas cloud computing solutions are offered by cloud service providers who manage and maintain the servers. This saves you money and space.

Data Security

On-premises systems provide less data security. This is due to the complicated combination of physical and traditional IT security measures.

Besides, cloud computing systems offer more security and prevent you from having to constantly monitor and manage security protocols.

Data Loss

In case a data loss occurs, the chance of recovering the data with an on-premises setup is very low.

In contrast, cloud computing systems have strong disaster recovery measures in place. This ensures that the data recovery process is fast and simple.

Maintenance

On-premises systems need extra teams for software and hardware maintenance. This requires high costs to be invested.

However, cloud computing systems are maintained by cloud service providers. This allows the company to spend less on maintenance and resource allocation.

Thus, cloud computing helps the business save costs, easily scale up or down, be flexible, and have better security.

In 2022, 94% of companies used cloud services. One of the major reasons for this is the Covid-19 Pandemic. Remote working led to 61% of businesses migrating to the cloud and the numbers have only gone up since.

The Need to Accelerate Digital Transformation and its Trends in 2023

Digital transformation involves changing business processes to become effective and efficient using digital technologies. It aims to use technology to transform an existing service into something better.

A Digital Transformation involves multiple technologies and results in an eco-friendly, sustainable, and organised workspace. Listed below are the upcoming trends for 2023 which you can incorporate with help of Growth Jockey.

Hybrid Work

Hybrid work is a flexible style of working that allows employees to work part-time from home and part-time at the office. After the pandemic, it has become a working culture that several companies offer.

The transformation to working remotely was a concern, as employers were unsure of how their employees would be as productive and efficient. However, according to a survey by McKinsey, 58% of employees stated that their productivity increased due to hybrid work.

Initially, this switch was just to adhere to government regulations, but in 2023, employers realised that the impact of the pandemic is not over. Thus, this will continue in the future.

Intelligent Search

Intelligent search can also be called AI-powered search, Natural Language search, or Cognitive search. AI or Artificial Intelligence technology permits intelligent search to break down data. This allows employees and customers to find the information they require in seconds.

The end user can use intelligent search to recover information from any data set in any location, there are no restrictions. But a common question usually asked is, “How is intelligent search different from a traditional search engine like Bing or Google?”

Well, a traditional search engine cannot answer business related queries like, “Why is my product dispatch delayed?” but an intelligent search can. So this will trend this year and in the future.

Customer Data Platforms

A customer data platform is software that collects and organises customer data from various sources and creates a comprehensive and coherent view of each customer. Bundled software is used to build a comprehensive customer database which other systems can access to track, analyse, and manage interactions.

One of the main goals of digital transformation is to provide the customer with a great experience and maximum satisfaction. Thus, for business growth and success in modern-day companies, following this trend and valuing customers is a must. This can be done by making decisions based on precise data.

AIOps and Machine Learning

Artificial Intelligence for IT Operations is the application of AI and similar technologies to IT operations. AIOps is used to help site reliability engineering (SRE), IT operations (IT Ops), and development operations (DevOps) teams work faster and smarter. It uses algorithmic analysis of IT data to find and sort out digital issues before they can impact the business and its customers.

Implementing AIOps and using its data analytics feature helps to reduce costs. When its tools are used by the DevOps team, they can centralise data and manage enormous volumes of data. This can prevent failures, provides service, and ensures uptime.

5 Ways Cloud Computing Helps CIOs And CTOs Accelerate Digital Transformation

Both CIOs and CTOs play a critical role in driving digital transformation within their organisations. The top 5 ways cloud computing can help them with digital acceleration are:

1. Scalability and Flexibility: Cloud computing enables CIOs and CTOs to quickly scale up or down computing resources as needed. They do not have to invest in different IT infrastructures. This enables the enterprise to respond quickly to its customers’ needs and eliminates the problem of an IT system overload.

**2. Increased Collaboration and Productivity: Cloud computing allows a business to access, recover and process information any time and anywhere. This ensures that there is an efficient collaboration and it improves productivity. Moreover, the cloud makes video communication easier as it allows the business to manage and schedule meetings directly on the system.

3. Enables quick prototyping: An enterprise requires constant testing, innovation, and implementation to drive digital acceleration. Cloud offers organisations a platform to easily build, test, and employ apps on different platforms. This can be done during the transformation phase, before setting up the complex infrastructure.

4. Lower Operational costs: The cloud offers a scalable service model for which enterprises only must pay for resources they use. This saves the cost of having to purchase and manage IT infrastructure and effectively scales the resources. Along with this, the cloud reduces the need for IT support staff and continual server refreshes.

5. Better Security: When you run a business or company, you are always at risk of losing important information. This could happen due to a data breach or an unexpected system shutdown if your data is stored on-premises. Thus, an enterprise can reduce this risk by using cloud computing which provides them with high security, compliance, and numerous backups of data in a secured medium.

End Notes

By leveraging cloud computing, CIOs and CTOs can accelerate their digital transformation efforts, delivering new products and services to market faster, improving operational efficiency, and staying ahead of the competition.

Start using cloud computing to transform into a modern, digital company today! Growth Jockey is here to assist in any way possible. Our team is prepared to put the resources to use and help you accelerate your digital transformation.

At Growth Jockey, we are fully committed to providing tailored solutions that effectively tackle the crucial challenges in cloud and cyber security faced by our clients across diverse industries. Regardless of the size of your company, whether it's a small-scale enterprise or a large corporation, you can now leverage the advantages of advanced technologies in cloud and cyber security.

Take the decisive step towards unlocking the next level of growth and protecting your brand by contacting us today!