Will cloud computing deliver IT services on demand ?
Cloud computing, according to Wikipedia is Internet-based computing, whereby shared resources, software and information are provided to computers and other devices on-demand, like the electricity grid.
Cloud computing utilizes the power of a broad base of multi-tenancy physical computing and software services resources to deliver capacity and applications on demand via the internet. It provides not just ‘software as a service’ but also ‘platform as a service’ and ‘infrastructure as a service’.
Financial institutions like banks and insurance companies usually have large data centres with masses of computing power, much of it under-utilised. The internal cloud is a solution which could provide greater increases in data centre utilisation, uptime, dynamic adaptability and cost efficiency.
Ultimately, cloud computing could achieve the utopian vision of computing on demand, moving IT spend from capital expenditure to operating expenditure and commoditising the IT industry. Cloud computing has been said to be The Holy Grail to deliver IT services on demand.
It can only mean more paperless and timeless transactions with lesser hardware dependency by the service sector industries and an increased dependency on internet and the IT sector.
Cloud computing will become so pervasive that by 2012, one out of five businesses will own no IT assets at all, the analyst firm Gartner has predicted.
More & more organizations are looking forward to cloud computing to reduce costs and shorten time to market. But, before benefiting from the full power of cloud computing, organizations need to find answers for several vital questions on both its effective usage and development.
Banknet is organizing Master Class on Cloud Computing at Sixth Annual CTO-CXO Summit on 22nd June 2010 at Mumbai to discuss the advantages and pitfalls of Cloud Computing. Participants will learn, how to increase capacities while expanding computing capabilities without hefty investment in infrastructure, training or software licensing... Read More
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