Cloud computing and platforms have grown significantly over the past decade.
By the year 2010, major technology companies, including Google and Microsoft, had already invested in cloud computing solutions. With Apple releasing iCloud in 2011, everyday consumers began using cloud storage daily extending the boundaries of cloud usage beyond niche enterprise data storage and backup options.
In recent years, the “Hybrid cloud” has emerged successfully to integrate even more cloud services into this paradigm. Indeed, cloud usage, which started from on-demand storage, has now become a key enabler of business strategies in modern enterprises.
For instance, cloud computing enables healthcare companies to go beyond the limitations of legacy processes and systems to improve their patient experience. In fact, as it stands, the cloud computing market in the healthcare sector is expected to reach $71.73 billion by 2027.
Along those lines, this article will discuss how the cloud is transforming business strategies using real-life use cases.
How the Cloud Has Transformed Business Strategies
This started as a way to save infrastructure costs. Today, through cloud migration, organizations have improved the ease of doing their business. They are increasingly moving their internal workloads to the cloud, thus enhancing their business agility and fueling cost savings. Companies are also leveraging cloud technologies to protect themselves from cyberattacks and external threats.
Modern cloud platforms enable and empower multiple organizational capabilities, including the ability to:
- Release products faster to the market
- Innovate the products
- Scale up (or down) the resources based on market demand
- Detect and resolve operational problems quickly
- Achieve business agility and resilience against external disruptions (like the COVID-19 pandemic)
Next, let’s look at five business use cases of cloud computing in modern enterprises.
1. Business Modernization
Cloud computing is providing business value by modernizing business enterprises across industry domains. With cloud platforms, enterprises can adopt a holistic approach to provisioning and managing their IT infrastructure, applications, and customer services. The cloud also enables the modernization of traditional legacy systems and applications, thus reducing complexity and costs.
In the healthcare sector, the Internet of Medical Things (or IoMT) is revolutionizing healthcare services. A recent Deloitte report estimates that there are over 500,000 medical technologies. It adds that IoMT is enabling “connected medical devices that can generate, collect, analyze or transmit health data or images and connect to healthcare provider networks.” Additionally, Goldman Sachs estimates that IoMT is saving $300 billion annually for the healthcare industry. Given the volume of data and the spread of these devices, it would be impossible to consider a functioning IoMT scenario without the enabling presence of the cloud.
2. Big Data Analytics
Using cloud-enabled computing power, organizations are also extracting valuable business insights through Big Data Analytics. Effectively, cloud-powered storage supports massive data volumes, which is useful in data analytics. This includes insights into customer likes, preferences, and market trends.
Cloud-enabled big data analytics in the healthcare sector is improving patient care and medical services. For example, the cloud has facilitated the creation of smarter and more accessible Electronic Health Records (EHRs), which store individual patient data like their demographic, medical history, medical test results, and more.
Similarly, using cloud technology, Telemedicine is enabling the delivery of patient services from a remote location.
3. Cloud Storage
Among the most common use cases, the cloud is used to store large volumes of data generated by businesses. Instead of investing in expensive in-house infrastructure or data centers, enterprises can now save money using cloud storage. Organizations only need to pay for the cloud storage that they are consuming.
More profoundly, cloud storage benefits healthcare companies with:
- Access to medical records stored on electronic devices
- Access to sensitive health information, including patient records and financial records
- Sharing of cloud-stored patient data by doctors with another specialist or medical application
- Easy collaboration among healthcare teams and providers, thus delivering superior patient care
4. Health Insurance
Larry Ponemon of the Ponemon Institute says, “Cloud-based technology lets insurers run the business more efficiently.” He adds that the cloud allows them “to go from centralized, rigid control without flexibility, to migrating toward tech and tools to create efficiencies for the customer.” Commercial players in the healthcare industry can use SaaS and IaaS platforms to provide scalable solutions, extend their reach, and build resilience into their tech ecosystem.
With cloud platforms, insurance companies can harness cloud-powered data analytics to improve their customer understanding. Additionally, they can now “break down silos” and integrate systems from patient records to insurance claims.
5. Application Development & Testing
Among the most interesting use cases, cloud platforms help in creating the right environment for application development. DevOps teams can easily configure a development and testing environment based on their application needs. Unlike traditional development environments, teams can now configure and activate a staging environment on the cloud with a few clicks.
Besides facilitating DevOps, cloud computing also enables CI/CD pipelines, serverless computing, and microservices for faster application development. With easier access to the cloud, product development companies can improve their efficiency and time-to-market of new applications.
Wrapping Up
To stay competitive and cost-effective, modern enterprises have increased their adoption of cloud computing services. Companies across domains have leveraged cloud benefits like improved efficiency, cost savings, and scalability. An example of cloud-powered innovation in the healthcare sector is the concept of “smart beds.” With their embedded sensors, smart beds in hospitals can monitor patients’ health. This includes their vital organs, body temperature, and weight. The overall solution folds in several capabilities of the cloud to add power, reach, and accessibility to the solution framework of sensors, hardware, software, and data-driven analytics.
Kyyba Tech builds solutions leveraging cloud-native technologies for enterprises to take advantage of the cloud. One of our key offerings is cloud migration which helps businesses move their On-Premises applications and data to any cloud platform. We also specialize in transforming older applications running on the cloud to take advantage of the cloud-native stack. Our experience with Integration platforms and process automation solutions have helped extend legacy systems with satellite applications be it a mobile app or low code app with their backend running on the cloud to keep things moving in the digital space.
Reach us with your requirements to take advantage of cloud-native solutions along with AI/ML, IoT, Mobility, and Data Engineering to build the next best thing for your enterprise.
%402x.svg){kind=icon}
