Research Reveals Cloud is Having Strategic Impact on US Businesses
July 23, 2014
Access to resources is what makes a company grow. Whether it is financial, human capital or technological, any one or all of these assets can dramatically change the direction in which a company is heading. In today's business environment, technology is increasingly playing an important role in the overall operations of an organization. Without access to these technologies, the growth a company experiences will be noticeably limited. A new report conducted by Oxford Economics has revealed one of these technologies, cloud computing, is responsible for having a significant and rapidly growing strategic impact on U.S. companies.
The study, which was released by Windstream, provider of advanced network and cloud communications, shows how cloud adoption has increased the expectation of innovation and collaboration among businesses. The technology has fundamentally altered business processes and changed the way organizations interact with their employees, partners, and customers by introducing many new opportunities.
Organizations of all sizes are now able to access a technology that is allowing them to build a real-time enterprise in which they can interact, innovate and flourish with more agility and flexibility than ever before at affordable price points.
According to Matt Preschern, senior vice president and enterprise chief marketing officer at Windstream (News - Alert), the company teamed up with Oxford Economics to better understand its customer base and their motivation toward cloud migration. The study surveyed 350 senior technology and business executives by collecting data throughout the United States during the second quarter of 2014.
Key findings of the survey are:
- Over half (53 percent) of respondents say cloud is key to their innovation strategy;
- Close to three-quarters (71 percent) expect the cloud to be part of the long-range vision for their business in two years;
- Within two years, use of clouds to drive entry into new markets will increase by nearly 50 percent;
- Collaboration among business units (63 percent) and partners (59 percent), innovation (55 percent), and improved customer service (44 percent) are valued over increased efficiency (33 percent) and operational savings (36 percent);
- Key drivers also include time to market by 52 percent and business agility by 50 percent.
"The survey findings illustrate a compelling snapshot of the cloud environment today. The conclusions drawn in this report provide vital information to anyone interested in cloud computing," said Edward Cone, managing editor and senior analyst for thought leadership at Oxford Economics.
In order to take advantage of cloud technology, businesses have to have a clear migration path with a well-defined strategy. If all of the right precautions are taken, companies will be able to position themselves with the ability to compete by being more agile and flexible which will allow them to respond to market changes in real time.
Edited by Rory J. Thompson