By Jonathan Lerner, CEO, InterVision on April 22, 2024
As organizations increasingly migrate data, applications, and operations to the cloud, cloud-related costs can quickly spin out of control.
According to Statista, 60% of all corporate data lives in the cloud as of 2022, up from 30% in 2015. Statistics like these indicate a couple of things.
For starters, the cloud’s seamless scalability and utility seem to have alleviated early fears about cloud adoption — including perceived security risks, loss of control, integration obstacles and talent gaps. Second, it’s clear that cloud architectures must consistently expand to accommodate massive amounts of organizational data.
Therein lies a major concern about modern cloud adoption: Cloud environments must expand as data increases. But constant expansion is expensive, leaving many CIOs’ budgets in the red, even as their cloud allocations habitually increase. According to McKinsey, the average company will spend 80% of its IT-hosting budget on cloud environments this year.
With the right mindset and approach to cost optimization, leaders can encourage a harmonious relationship between their budget and cloud spending. The key to doing so is an adaptive approach to the cloud.
