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CIOs are spending a lot on Enterprise IT, near record highs, according to a study by Goldman Sachs.
What are they spending their dollars on? Security ranks number one. Followed by SaaS, Business Intelligence and Analytics, and the public cloud.
Currently 18 percent of business workloads are now in in the cloud, and by the end of 2019, 34 percent of workloads are expected to be in the cloud. Microsoft, Amazon and Google are doing very well in this environment. Traditionally strong technology companies like Oracle, SAP and Teradata are slipping.
A Goldman Sachs analyst said that “while we remain bullish on the overall public cloud opportunity, we see an increasing number of companies confronting the realities and challenges of migrating workloads and re-platforming apps. As enterprises come to the conclusion that their IT paradigm will likely be hybrid for longer than anticipated, this dynamic continues to benefit on-premise spending.”