July 13, 2016 Leave a comment
Came across this Google-sponsored study, Trust in cloud technology and business performance: Reaping benefits from the cloud (PDF, no registration required) from The Economist Intelligence Unit (via Forbes/Louis Columbus). It’s based on a ten-country, multi-industry EIU survey of 452 senior executives and interviews with experts and is full of interesting insights:
An astounding 38% of I.T. at respondents’ organizations is cloud-based rising to 45% by 2019. Almost half of I.T. will be cloud-based by the end of the decade. And, the Cloud has already helped transform key areas such as time to market, greater agility and collaboration.
Yet, while everyone is using Cloud, just 16% of respondents say their organization has a very high level of trust in the cloud and this level of trust is not growing quickly.
The lack of trust is surprising when you consider the correlation between Cloud Trust and a wide range of key business outcomes from economic metrics such as Revenue, Profit & Share Price to non-financial ones like Agility, Collaboration & Innovation.
The conclusion is that Trust plays a key role. Cloud’s greatest benefits come from companies refashioning how they work and expand their capabilities by taking full advantage of the benefits and not from the low-hanging fruit of cost savings. Organizations with low trust are far from this transformation. Those with high trust are improving functional operations and profitability.