Cloud technology has attracted champions and cynics for many years, but times are changing as financial firms realise the benefits of both public and private cloud environments in terms of cost savings, operational gains and business agility.
Brennan Carley, global head of enterprise at Thomson Reuters, presented a compelling keynote on why trusted data belongs in the cloud at A-Team Group’s recent Data Management Summit in New York City. He noted the cost of data consumption and management at four to eight dollars for every dollar spent and argued the case for cloud in terms of scale, agility, reduced costs and greater data integrity. He also noted the capabilities of the cloud that allow developers to spin up servers and build and test applications quickly and at low cost.
Reviewing results of a recent survey on cloud take-up by Thomson Reuters, Carley described a surge in adoption of public cloud solutions over the past few years as cloud providers have improved data security to a level on a par with, or greater than, enterprise data security. To succeed in the cloud, he recommended a multi-vendor strategy and strong data governance.
You can find out more about the challenges and opportunities of using cloud technology, and Thomson Reuters own approach to cloud, by listening to the podcast of Carley’s keynote at the Data Management Summit.