The phrase “Knowledge is power” holds sway now more than it ever has because we are effectively in the information age. We can access information far easier now than we have ever done before thanks to cloud technology. Social media and email services like Gmail are already a manifestation of cloud computing technology. But in addition to personal use, cloud computing technology is providing businesses with cost savings, operational efficiency, and an overall competitive edge.
Cloud computing comes with some obvious benefits both to our professional lives and for the companies in existence today – companies that leverage easy access to data, that is. Therefore, here is how useful quick data access can be in the current business climate:
The universal access to information via devices such as smartphones enables people who live far from work to stay up to date with developments in their workplace. By using the quick communication channels at their disposal these days, companies can work with employees who are on the move as well. This enhances work-life balance for employees and increases their levels of efficiency.
When data is stored online, it is easily accessible by the authorized personnel. When you entrust a company to handle your data securely, they are likely to be more efficient at doing it than if you handled your data in-house because:
- They are experts with the primary objective of keeping your data safe (it is their full-time job).
- They have better infrastructure owing to their economies of scale. You would need massive (impractical and uneconomical) investment to acquire the infrastructure in-house.
So, you can bet that they are significantly better at securing data than you can ever be. To sum it up; not only is it easy to access data stored on a cloud, but it is also more secure.
Sure, adopting new technologies like faster hardware, updated software, and Cloud Hosting services requires massive initial capital investment; however, the advantages of investing in them offset the costs in the long run. Return On Investment (ROI) is high as a result of improved productivity and lower overhead costs. In addition to an improved ROI, the business can find better ways to meet their goals (profitability being a welcome by-product of meeting goals).
If your business intends to have more than one person working on a particular task, collaboration is of absolute necessity. And what does collaboration thrive on? Communication and quick access to information.
Although collaboration is still possible, even without cloud computing, with the platform, team members can share information and check for updates regarding their joint task in real time.
Better Data Analysis
When you use Cloud services to manage your data rather than traditional means of storage, you gain access to modern analytic tools. These tools have unfettered access to your data in an enabling environment and are better placed to analyze it and conjure up useful business insights. For example, you can realize that a certain branch of your organization is performing poorly with product A but does extremely well with another product B. You can now focus your resources in providing more of product B for that branch.
A company that enables its employees to have easy access to data through cloud-based services are at an advantage over its rivals. In spite of the numerous benefits cloud computing presents businesses with, a significant number of them are yet to embrace it.
If the industry is saturated, even the most marginal advantage can differentiate successful companies from failures. If you lead a company, invest in cloud technology to give yourself a head start over your competitors if they are not already on board with it. On the flip side, it can help you recover if you have fallen behind.
Mitigate Disaster-Related Losses
Organizations today are heavily reliant on data collection, its analysis, and storage for future use. When disaster strikes, you will suffer greater losses if all your data was localized. However, if you use cloud-based services and storage, you will still recover your data relatively quickly, even in the event of a natural disaster and get on with business. Since you cannot predict when disaster is going to strike, it is in your best interests to have that insurance policy.
Easily Locate Information
With the advanced nature of the infrastructure used to handle data, it is easier to find the information you need. All you need to do is run queries and it will be presented to you. Sometimes, the data you request frequently is cached allowing you to work faster.
Cloud infrastructure and other technologies that allow employees to access company data and resources from anywhere with an internet connection are proving indispensable. Cloud computing is now synonymous with universal data access. Although these services call for substantial initial investment, the benefits they bring outweigh the costs. Ultimately, easy access to data is necessary for the growth of any modern organization.