The Journal of Object Technology gives quite a simple but complete definition of cloud computing: the ability to access files, data, programs, and third party services via the Internet from a Web browser hosted by a third party provider, including payment for computing resources and services accessed. According to Microsoft Azure, cloud computing is the delivery of computing services including servers, storage, databases, networking, software, analytics, and intelligence via the Internet. In addition, cloud computing is sometimes used as a synonym for on-demand computing, software as a service (SaaS), and grid computing, where “cloud” means a data center.

There are many definitions of cloud computing, but one thing is for certain: it is a service that includes different cloud deployment models, with all their pros and cons.

According to NIST, there are four cloud deployment models:

  • Public cloud
  • Private cloud
  • Hybrid cloud
  • Community cloud

cloud deployment models

A cloud deployment model is characterized both by the location of the deployment infrastructure and by the type of party that has control over it and the configuration of its parameters, such as storage size and accessibility. The different deployment models are defined as follows.

  • Public Cloud: a cloud that is publicly available, with data stored on third-party servers. The pros of this type of cloud computing are cost effectiveness, easy access, scalability, simple setup and use; and the cons are security issues, the lack of an individual approach to customers, and compromised reliability.
  • Private Cloud: a cloud that is accessible privately. From a technical point of view, public and private clouds are similar, with the only difference being that a private cloud is owned by a company. The benefits of cloud computing in private clouds include an individual approach to customers, greater control over confidential corporate information, and better security and reliability. The major disadvantage is, of course, the price.
  • Hybrid Cloud: a mix of public and private cloud infrastructures and features encompassing the best elements of both cloud deployment model The befits comprise improved security and reliability, enhanced scalability, and a reasonable price; but this only makes sense if a company can split its data and store it in different clouds.
  • Community Cloud: this type of cloud offers computing resources shared with other firms and organizations, often with a limited set of users. The model thus resembles a private cloud. The benefits here include shared costs, which reduces the price, and improved security. However, the major disadvantage of cloud computing here is the cost for individuals or small companies, as this is higher than for public clouds.

But how to decide on the best cloud deployment model to suit your needs? This can be a major challenge! The prerequisite for success is to carefully consider the pros and cons of the different cloud computing models. At CompatibL, we can offer our expertise and experience as ahead-of-the-curve cloud providers.

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The benefits of cloud computing are already well known and below we detail the most desirable features.

Benefit # 1: Cost reduction

First and foremost, businesses seek opportunities to reduce their costs and get more for less. With the cloud, there is no need to purchase hardware or software, provide a separate power supply, or take account of capital expenditure.

Benefit # 2: Better performance

Other key advantages of cloud computing are better performance and opportunities to automate processes as well as enhanced speed and productivity.

Experts discussing the future of cloud computing, and its benefits and disadvantages

Benefit # 3: Scalability

Scalability and enhanced capability offer advantages for business continuity and can help businesses achieve sustainable development goals.

Benefit # 4: Efficiency

Data back-up and recovery are speedy and efficient, offering a clear advantage over on-premises technologies.

Before deciding on your cloud transformation model, it is highly important to also consider the disadvantages of cloud computing, which include:

  • Vulnerability to attacks and a risk of information theft
  • Dependency on network connectivity, as access to the cloud requires a steady Internet speed
  • Migration issues that may arise due to vendor lock-in
  • Limited control, as processes are performed on a remote server with poor or no access for users
  • Downtime issues due to technical outages

According to the Journal of Object Technology, costs may be lower with public clouds, as there are no capital expenditures for an end user. While private clouds involve capital expenditures, these are still lower than owning and maintaining an on-premises infrastructure. Private clouds also seem to offer better security and compliance support conditions than public clouds.  You may therefore decide that a hybrid cloud is the smartest option: firms and organizations may choose to perform basic tasks in the public cloud and move more sophisticated infrastructure to the private cloud.

Cloud computing is one of this year’s top trends, according to the Nasdaq report. It is almost a staple of digital transformation. As a leading software development company, CompatibL has long been ahead of this trend. CompatibL Platform, our combined on-premises and multi-cloud enterprise platform, brings the many benefits of cloud computing to our customers’ trading and risk applications.

Cloud Adoption Special Report
Cloud Adoption Special Report
Check out CompatibL’s Cloud Adoption and Risk Report for a detailed overview of cloud adoption trends in financial services, AWS and Azure cloud adoption strategies, and barriers in migrating risk software to the cloud.

CompatibL cloud computing services

The definition of cloud computing has changed a lot over the last decade: since the embryonic resources offering cloud computing in 2009  there has been a boom in cloud transformation projects according to the Forrester report. By 2019 over a half of US-based enterprises had decided to run their infrastructure in the public cloud.

The future of cloud computing is already here. At CompatibL, we anticipate the cloud computing landscape will continue to change, further modernizing the core business processes and applications of many enterprises. We also agree with predictions that the macrotrend of 2020 will be to digitalize all things in the cloud.

Thus, at CompatibL, we are already preparing for the increase in demand for cloud computing services. We offer many cloud deployment models, including Amazon Web Services, Microsoft Azure, and Kubernetes fully supported by AWS Lambda, AWS Fargate, AWS Step Functions, Azure Functions, and Docker containers. These all provide enterprise-level in‑memory caching and cloud database solutions. In addition, we continue to provide consultancy, expertise and in-depth knowledge to assist customers in moving to the cloud.

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