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Cloud Computing: Spending Up, but Managing Costs is Difficult
Cloud computing showed a 21.7 percent year over year growth rate in the fourth quarter 2017, according to IDC. The estimates include contributions from both the public and private cloud.
The industries that are spending the most on the cloud are discrete manufacturing ($19.7 billion), professional services ($18.1 billion), and finance ($16.7 billion). Process manufacturing and retail will also both spend more than $10 billion on cloud services in 2018.
Another report by 451 Research found that while cloud computing can save money for businesses, it often doesn’t. Their report said that the “Cloud is an inexpensive and easily accessible technology. People consume more, thereby spending more, and forget to control or limit their consumption. With ease of access, inevitably some resources get orphaned with no ownership; these continue to incur costs. Some resources are over provisioned to provide extra capacity as a ‘just in case’ solution. Unexpected line items, such as bandwidth, are consumed. The IT department has limited visibility or control of these items.”
