Like it or not, cloud computing is the future. A recent study by Axonn Media predicted that by 2020 there will be around 50 billion connected devices globally, and the only realistic way to ensure full accessibility of your future business data amidst your arsenal of gadgets will be through cloud storage.
However, like all new technologies with such ground-breaking potential there are pros and cons to investing your sensitive data in a still-maturing medium. Many business owners’ understanding of the risks is appropriately nebulous, and whilst much has been said on the strengths of cloud computing; less has been made of the hiccups, dangers and security flaws that need to be ironed out before universal adoption can begin.
Here’s how cloud computing stands now; how your business can benefit from pushing your data into the cloud and the potential risks you might be taking.
1. Benefit – Cloud Computing is Cheap(ish) and Ensures Uptime
Remote data centres are increasingly employing low-power processors, so users can expect significantly smaller electricity bills. Low-power ARM chips with 64-bit capability can yield an economical and environmentally-friendly solution. Furthermore, this low cost approach will allow companies to acquire data centres across the world (in different time zones) and dramatically increase uptime. Increased uptime guarantees that your business is less likely to lose money, opportunities and an edge against your competition.
Whilst big players like Amazon are already using this technology, smaller hosting companies such as GloboTech Communications are also entering the arena.
2. Potential Risk – Hackers are Attracted to Cloud Computing
As more individuals and companies start storing their sensitive data in the cloud it’s inevitable that it will see greater attention from hackers. A recent study from Vanderbilt University suggested that 49% of web applications are highly vulnerable to intrusion, meaning that a skilled hacker could have access to the personal and financial information required to empty bank accounts and harm companies.
However, Philip Whitchelo, Vice President of Strategy at More Than a VDR, a provider of secure data rooms, offered some insight into the simple ways to ensure that any data stored in the cloud less vulnerable at the ground level:
“Be sure to train your privileged users in the art of secure data handling. A small investment in time and resources will help safeguard against potential data leaks and crises. Simply put, the more sensitive the data they have access to – the stronger the access controls should be.
“Mobile applications are where the data is most at risk: make sure your company scans mobile applications for potential vulnerabilities. Data access should also be limited by context. Access from an office computer during working hours should be more complete than access through an off-site mobile phone or tablet during the weekend. Access should cater to your realistic business needs, For example; full financial or personnel records shouldn’t be accessible off-site. Also, off-site access should include additional sign-on barriers to improve security.
“There should always be extra encryption and monitoring on databases with particularly valuable data.”
The cloud, it seems, is relatively safe, but only if you know how to use it effectively and sensibly. Picturing the cloud as a tool to allow instant access to all corporate data from anywhere in the world is unfortunately a naive misconception that will leave your sensitive data at risk.
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