The global cloud computing market reached almost $300 billion in 2020. Fueled in no small measure by the pandemic that same year, this number will only climb as more and more businesses recognize a need to speed up their transition toward cloud-based solutions.
Cloud computing offers a range of benefits that many businesses find both appealing and practical. By securely storing business data in the cloud, companies have an opportunity to reduce expenses, provide more flexibility to their employees, and improve work efficiency.
But how exactly can cloud hosting help your small business? And why are so many companies of all sizes around the world moving away from on-premise data storage solutions? The five reasons listed below should shed a bit more light.
1. Cloud Computing for Business is Cost-Effective
Maintaining an IT infrastructure is expensive. If something should happen to go wrong, it can quickly become downright unaffordable. You not only have to hire or outsource IT staff but also have to worry about maintaining equipment that becomes outdated all too quickly.
When your business opts for cloud computing solutions, you are essentially handing over the entire IT process to a qualified third-party provider who will securely host all of your data on their servers.
That way, you don’t have to worry about paying IT staff, performing system upgrades, or fixing various issues. Everything is handled by someone outside your company and that means you can enjoy both savings and security.
Additionally, flexible and affordable cloud computing solutions today make it an option even for small businesses. Smaller companies can now enjoy the perks of being a data-driven business even if they don’t have the budget to create their own infrastructure from scratch and maintain it.
2. Cloud Computing Is Much Easier to Scale
Predicting data storage needs isn’t always easy. Requirements can vary based on demand, growth, market conditions, and a variety of other factors that can change year to year…or even on a quarterly basis.
However, if you’re using an on-premise solution, you won’t have nearly as many options to choose how much you want to expand. Instead, you’ll have to guesstimate what you need and invest in creating the additional infrastructure to support it.
The stickiest problem is that while you may have relatively straightforward needs now, there’s no telling how soon you might need more storage or more features. Making inaccurate guesses or unnecessary purchases nearly always proves to be costly.
When your business needs room to grow, reconfiguring your data storage capacity can be a huge, expensive hassle that chews up a lot of your time.
On the other hand, if you use cloud computing for your business, you have the ability to scale up and down with ease. Cloud solutions allow you to change your plan according to what you currently use and maximize the value you get from the money you spend.
3. Enhanced Data Security
Your data is perhaps the most valuable asset your business has. Were that information to fall into the wrong hands, a data breach could be the cause of your company’s demise. The secure handling and storage of sensitive customer and business data is a top priority for any business.
Once again, if you don’t have a 24/7/365 IT department monitoring the performance and security of your systems, you’re always at risk of something going wrong. Add to this the fact that cybersecurity requirements are constantly evolving. Given this landscape, you’ll always be trying to catch up with what’s required to provide adequate protection for your data.
Security is one of the areas where cloud computing for business can really set itself apart from the alternatives. When you work with a reputable cloud services provider, you get their cybersecurity expertise and a continually upgraded infrastructure that withstands security challenges.
Today’s cloud computing providers utilize state-of-the-art technologies to combat emerging threats. Their expertise affords you peace of mind without your company having to put in the effort of ensuring the safety of your data.
4. Significantly-Better Uptime
Downtime can be a nightmare scenario for any business. Whenever your on-premises data storage needs to be updated or — worse — there’s an unplanned security event, it can completely paralyze business activities. Precious time and revenue are lost as you scramble to catch up and get your systems back up and running.
Luckily, when you opt for cloud computing solutions for business, downtime isn’t an issue you will have to deal with.
Whenever there’s scheduled maintenance or an issue with the servers that store your data, backups provide cover almost immediately. This ensures that you can always access your data and conduct business as usual. Be sure to choose a provider that guarantees uptime.
5. Your Business Is Empowered to Make Data-Driven Decisions
In the end, cloud computing is not just about saving costs or ensuring that your business can function effectively. It’s just as much about becoming a more forward-thinking business that makes data-driven decisions.
By using cutting-edge cloud computing solutions, your business can leverage the data you collect into valuable insights about your customers. You have the chance to improve your business performance. You can also keep up with trends in your industry that determine how successful your company will be.
Setting up analytics and data capacity will take time and resources. However, cloud computing is making it more affordable and accessible to businesses of all sizes. However, to take advantage of that, you must be willing to go through a digital transformation and embrace cloud technology as a central part of the way you do business.
Cloud Computing Provides an Opportunity for Your Business to Level Up
Cloud computing is here to say. Technology is now more accessible than ever. Businesses that want to survive and thrive must figure out how to make cloud computing work to streamline operations.
Luckily, there’s now a wide range of cloud solution providers aimed at various industries and business sizes. You shouldn’t have any trouble finding the perfect match for your situation. Look for something that will be affordable, secure, and come with all the features you require.