Organizations have been slowly migrating their data to the cloud for the past decade. The primary reason is to improve business performance, reduce infrastructure costs, and promote mobile & distributed workforces. The inception of the pandemic has given a boost to this trend, followed by organizations for a while now.
In 2020, cloud storage started becoming a necessity post-transition to remote work, where employees needed access to files to manage the business documents remotely. Hence, leading organizations to better collaborate.
A report suggests that more than half of the corporate data now resides in cloud storage. A prediction made by Fortune Business Insights indicate that the market share of cloud storage will continue to grow and reach $400 billion by 2028. It is almost six times the market share in 2020.
The storage cost incurred in physical storage compels many organizations to switch to cloud storage. It considerably reduces the investment and management burden that comes on organizations.
However, under certain circumstances, the cost of cloud storage may level up with physical storage. But the time consumed while increasing the storage space in case of physical storage and the fees incurred while retrieving the lost data in physical storage is far more burdensome than cloud storage. Hence, cloud storage has undeniable benefits while organizations are operating in a distributed environment.
Top 5 benefits of using cloud storage
● Accessing files – We have been working remotely almost for the past two years. Before the pandemic, several companies like Liqvd Asia had declared work from home policy for their employees.
In such a mobile and distributed workforce environment, remote accessing files and resources has become vital. Whether you are working from home, business headquarters, or remote locations, accessing files has become easy and quick, having cloud storage in place.
● Easy collaboration – Suppose you are working from home and your colleague is working from some remote location. In such a scenario, a centralized system ensures synchronization across all the access points.
In simple terms, if multiple workers are accessing & making edits in the files, cloud storage ensures sync and simultaneously incorporates every improvement. Thus, the goal of easy collaboration is achieved.
● Additional cost & time – If a business wishes to add on-premise storage, they need to invest time and money in the complicated process of buying, installing, and maintaining additional hardware.
On the other hand, elastic cloud storage allocates unlimited virtual storage space almost immediately. Thus, ensuring a considerable reduction in the cost incurred while adding on-premise storage and time consumed in installing it.
● Protection of the data – Cloud storage adopts the industry-wide accepted ‘3-2-1’ data protection policy. In this approach, 3 copies of your data are stored at 2 different media locations, with 1 copy stored off-site for disaster recovery. Thus, keeping your data safe.
● Business resilience – With the increased risk of ransomware, it is critical restoring your data in case of any attacks. Cloud storage has the potential to restore your operations in a shorter period in case of any incidents where your original data is compromised. You can redirect users to the cloud sources in many instances, reducing the downtime from hours to minutes.
Although the inception of the Covid-19 pandemic had put a lot of pressure on the organizations, the critical nature of cloud storage had kept the stress of collaboration remotely at bay. Cloud storage not only ensured business resilience but also improved the productivity of employees working at remote locations. We can say this is the start of the new era of cloud computing.
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