What is Industry 4.0 and How Does Cloud Computing Play a Key Role?
Industry 4.0 denotes the fourth industrial revolution. We can consider automation and data exchange trends in different industrial sectors including manufacturing as Industry 4.0. What makes this revolution highly influential in industrial sectors is the inclusion of emerging technologies like IIoT (Industrial Internet of Things), cloud computing, big data, and IoT. The Industry 4.0 concept is about bringing automation and transforming processes with the advancements of these futuristic technologies.
In this blog, we are going to discuss one powerful pillar of Industry 4.0, cloud computing. This concept not only drives Industry 4.0 but also assists modern businesses to thrive. We will also see how cloud management services work wonders in taking businesses to a new level and what challenges enterprises could face while deploying a cloud-based solution.
Before moving ahead, let’s look at some of the interesting stats related to cloud computing.
Spending on public cloud services is expected to cross USD 591 billion in 2023
Over 100 zettabytes of data is expected to be stored in the cloud by 2025
The cloud computing market is projected to reach USD 832 billion by 2025
Almost 34% of remote workers prefer to work in the cloud
Cloud computing is gaining ground in the corporate world for multiple reasons. It enables companies to access and share confidential data in a swift and secure way. Businesses can scale their operations and grab new opportunities with the help of cloud computing in Industry 4.0. Cloud managed services can assist your business to leverage the benefits of this future-ready concept. Let’s go through some of these key benefits of cloud computing.
Advantages of Leveraging Cloud Computing for Businesses
Cloud-managed services can offer multiple benefits. Entrepreneurs and business persons can consult a reputed cloud management services provider to get the power of high data processing, robust data storage, and customized applications for their companies irrespective of size and business models.
Cloud computing can provide users with the following benefits-
Cloud consulting can suggest the necessary resources. So, you need to pay only for these resources when you take cloud services in Toronto or any other part of Canada. It assists you to avoid over provisioning the data center and get all the necessary functionality cost-effectively.
Cloud computing can improve collaboration across different departments by giving seamless access to the company’s data. Employees can get the company’s information as and when they want. It can increase agility in processes.
The cloud is a name synonymous with scalability. It enables companies to grow without spending or investing in additional infrastructure. The cloud-powered solutions can handle multiple requests at once to offer higher scalability.
Quicker Time to Market (TTM)
Cloud computing supports innovation and creativity to manufacture new products quickly and get rid of slow procurement processes. Developers can accelerate the development process and ensure quick deployments of solutions. It gives your organization a competitive edge.
Cloud service providers offer backup and disaster recovery facilities. Data storage in the cloud can help businesses prevent data loss in the case of a hardware malfunction or other local-level errors during operations.
How to Choose the Right Cloud Service Provider for Your Business
However, if businesses want to make the most of cloud computing, they need to select a reliable service provider. Here are some tips to choose the right cloud partner for your business.
Compliance with Standards
Cloud-managed service providers need to comply with prevalent standards and quality frameworks while implementing industry best practices. You can look for suppliers who have ISO 27001 certification for standards and other certifications for data security.
You need to ensure that the service provider’s platform and technologies are in line with your current business needs and support for achieving your cloud-based objectives. Proven technologies and methodologies are essential for achieving the desired outcome.
Policies for Data Security and Governance
Data security and management are essential factors to consider when selecting a cloud services provider. The cloud is about storing and sharing corporate data, and therefore, its security and management play a vital role in ensuring business growth.
High Reliability and Performance
It is always beneficial to check the performance of the cloud service provider for the last 6 to 12 months as per the SLAs. Though downtime is inevitable, you can focus on the reliability and overall performance of the service provider.
Apart from following ISO standards, you need to make sure that the cloud service provider is ready to sign all the necessary contracts and SLAs.The legal documents should include service delivery, business terms, legal protections, and data assurances.
Open Service Dependencies
Service dependencies and subcontractors of your cloud service provider should be known. You should also ask for vendor relationships and partnerships of the service provider to get more idea about the provider’s business model and workflow management.
Healthy Business Profile and Rich Portfolio
Apart from having the technical and operational capabilities, the potential service provider should have a proven track record. You should also consider the financial health and overall profiles of all shortlisted providers to get a clear idea.
Support for Migration and Exit
Another major factor is vendor lock-in and exit planning. Vendor lock-in restricts customers to approach competitors for a specific product or service. It is the result of proprietary technologies. Your cloud service provider should support migration and exit plans if necessary.
You can keep these eight points in mind to pick the most suitable cloud service provider for your business. It is fair to mention that the right cloud partner can help you address some major challenges while deploying a customized cloud solution in your organization.
What Are The Security Challenges Involved in Deploying a Cloud Solution?
Cloud computing is game-changing for modern industries as it enables entrepreneurs to leverage the advantage of Industry 4.0. However, it is better to consider security risks and compliance challenges when opting for cloud computing.
Here are the key security risks associated with cloud services.
Loss of Intellectual Property
Globally, more businesses tend to store their sensitive data on the cloud. As per the McAfee report, 21% of the files uploaded to cloud-based platforms have sensitive data like intellectual property. Cybercriminals can access this information during cyberattacks.
Over 60% of businesses consider data breach or leakage as their top security priority when transitioning to the cloud. Any attempt of a data breach can cost your company a lot in the form of money and reputation.
It is a cause of concern especially when the vendor you have selected gets failed in providing the expected performance and quality. The vendor lock-in not only reduces the speed of migration to other platforms but also forces companies to compromise with quality.
APIs (Application Programming Interfaces) are useful to give the necessary control to customers. APIs enable companies to administer, monitor, and execute various tasks while controlling assets. Insecure APIs can create a serious risk of data theft.
If you look for top-notch cloud services in Toronto, you should keep these security risks in mind and ask your cloud services provider about the preventive measures for these risks.
Silver Touch Technologies is a leading cloud management services provider in Canada. We take care of every aspect of the cloud to drive your business toward growth at affordable rates. We have assisted many startups and SMEs in get success in intensifying competition with customized cloud solutions. Do you want to know more about our cloud services in Toronto and a range of IT services for digital transformation? Simply drop us a line at email@example.com and our experienced business consultants will get back to you soon.
Cloud management services offer the management of cloud-based products or solutions and services in an organized way.
SaaS (System as a Service) ad PaaS (Platform as a Service) are the two main types of cloud services.
Cloud management components are storage, network, application, and computer. Other components include service and resource governance and audits.
The five pillars of cloud data management are –
Control Data Access
Secure Data Transition
Backup and Recovery of Data
A managed cloud service provider offers services like migration, configuration, optimization, maintenance, and security of the cloud-based applications and stored data in the platform.