In challenging economic times, anything that can save companies significant money is a hot topic, like cloud computing, which promises to reduce the costs of storing information and implementing applications. But companies that store information in the cloud without regard for how it will be secured and accessed may be setting themselves up for nightmares down the road. Any company utilizing cloud-based solutions should create granular e-discovery and security requirements before moving any information to the cloud.
The cloud, as a term, is used as if there is a common understanding of what it means. The National Institute of Standards and Technology defines cloud computing as “a model for enabling ubiquitous, convenient, on-demand network access to a shared pool of configurable computing resources (e.g., networks, servers, storage, applications, and services) that can be rapidly provisioned and released with minimal management effort or service provider interaction.” These characteristics add up to huge potential benefits for customers. Resource pooling across multiple clients brings economies of scale, which lead to lower costs. Elasticity lets customers scale up without having to add internal IT resources.
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