Selecting the right industry cloud

The following is a full transcript of answers provided during an interview with InformationWeek who were looking for insights on how to select the right industry cloud.

What are the most important attributes to look for when shopping for an industry cloud?

The foundation is identification of key attributes that align with business goals. Prioritize industry-specific features such as compliance with regulations, workflows and data models. Robust security measures are critical, including data encryption and a good track record in handling incidents. Ensure the cloud service can scale and flex with business growth and integrates smoothly with existing systems for uninterrupted operations and data flow.

Assess the cloud service’s reliability and the provider’s service level agreements to guarantee uptime. The service should deliver the necessary performance for specific applications, from processing speed to storage capabilities. Good customer support is vital, characterized by availability, quick response times, and quality assistance.

Understand the pricing structure to fit budget and consider the total cost of ownership, avoiding hidden costs. The platform should offer strong data management and analytics to inform decision-making. Choose a provider that demonstrates innovation and regularly updates its offerings to keep up with industry changes.

Investigate the provider’s reputation and stability for reliable service. Lastly, the user interface should be intuitive, ensuring a positive user experience and easy access to training, resources and breadth of support ecosystem ie: partners. By evaluating these factors, it is possible to choose a cloud service that meets current needs and supports future business evolution.

What makes these attributes so important?

Choosing the right industry cloud is pivotal due to the unique demands of today’s digital business landscape. Industry-specific features ensure that cloud solutions meet unique industry requirements, regulations, and workflows, enhancing efficiency and compliance. Robust security measures are indispensable for protecting sensitive data against cyber threats and regulatory breaches.

Scalability and flexibility allow businesses to respond to fluctuating demands without significant additional investment, supporting growth and adapting to market changes. Seamless integration with existing software and systems streamlines processes, ensuring data accuracy and reducing manual labor.

Reliable and readily available cloud services minimize costly downtime, maintaining business continuity. Performance is key, especially for data-heavy industries or those requiring rapid processing. Quality customer support is essential for a positive cloud service experience, resolving issues swiftly to reduce downtime and frustration.

A transparent and predictable cost structure aids in financial planning and controlling expenses. Effective data management and analytics are crucial for informed decision-making and maintaining a competitive edge. Cloud providers who prioritize innovation offer businesses the latest technological advancements, ensuring relevance in a fast-evolving tech landscape.

Vendor reputation and stability guarantee reliable service continuity. Finally, an intuitive user experience boosts adoption and productivity, minimizing the need for extensive training. Altogether, these attributes significantly affect a business’s operational efficiency, security and scalability, providing a competitive advantage in the dynamic digital economy.

How large of a role does cybersecurity account as an attribute?

Let’s get one thing straight, cloud aside, Cybersecurity is a comprehensive part of every business strategy and fundamental to making a business model operational and prosper in the digital economy. IF an organisation does not have this built in at a cultural DNA level, it can regard itself as still being in βETA.

In selecting an industry cloud Cybersecurity is central due to many factors, most notably its impact on data protection, compliance, business continuity, customer trust, and financial health. Businesses store sensitive data on the cloud, such as customer details, financial records, and intellectual property, making cybersecurity essential to safeguard against unauthorized access and breaches.

Industries are often bound by strict data protection laws like PCI-DSS, GDPR and HIPAA (FEDRAMP in the US), where non-compliance due to weak cybersecurity can lead to severe legal and reputational damage. Cyber threats, such as ransomware, can halt operations, but robust cybersecurity measures can maintain business continuity and minimize downtime costs.

Customer awareness about data privacy is critical for trust in digital life and strong cybersecurity measures help build and maintain their trust. The evolving nature of cyber threats, which are becoming increasingly sophisticated, requires a cloud service that prioritizes up-to-date cybersecurity to offer ongoing protection.

The financial stakes are high as data breaches carry costs like fines and remediation, along with indirect impacts like business loss and decreased shareholder value. Cybersecurity transcends being a mere attribute; it’s fundamental for any cloud service, especially in sectors managing sensitive data or under tight regulations. It’s crucial for the security posture and risk management strategy of any business leveraging cloud technologies.

What’s the best way to begin an industry cloud search?

Take a methodical approach when searching to align the chosen solution with your business’s unique needs. Begin by identifying specific industry-related requirements, including the types of data you handle, scalability, performance, and compliance needs. Evaluate existing IT infrastructure to determine what exists versus what is needed and how a new cloud service will integrate into a current environment.

Research cloud providers offering industry-specific services, looking for reviews and testimonials. Emphasize security and compliance, ensuring they match industry and regulatory standards. Consider the provider’s ability to scale services in line with business growth and their integration tools like APIs.

Analyze the cost and pricing structures, including total cost of ownership and potential hidden fees. Check service level agreements for reliability and support and assess the provider’s reputation in customer support. Request demos or trials to gauge the service’s compatibility with existing or target systems.

Involve stakeholders and IT staff to gather internal feedback on the cloud service’s suitability. Shortlist the most fitting providers and compare them based on your criteria. Consult with experts or cloud advisors for tailored insights.

What’s the best way to compare industry clouds?

Adopt a systematic evaluation method to support making an informed decision that matches business needs, offers scalability and delivers the best value for investment. Start by developing a comparison framework that includes a checklist or matrix of crucial factors like features, security, compliance, scalability, performance, integration capabilities, cost, user experience, and support, prioritizing them according to unique business needs.

Gather comprehensive information about each service, including brochures, specs, reviews and case studies. Request presentations or demos to further understand their offerings. Analyze the features and capabilities, focusing on those that meet the target industry needs and any unique offerings that might give a competitive edge.

Evaluate the security and compliance of each provider, ensuring they meet industry regulations and your security requirements. Consider aspects such as data encryption and access controls. Assess the scalability and flexibility of the services, considering how well they can accommodate business growth and the financial aspects of scaling.

Check how well the services integrate with current infrastructure and the availability of native integrations and APIs. Compare pricing models and understand the total cost of ownership, not just the upfront costs. Review reliability and performance metrics, including SLAs.

Assess the user experience and the quality of customer support each service offers. Solicit feedback from current users and read reviews. Perform a cost-benefit analysis, considering both tangible and intangible factors and potential ROI. If possible, run a pilot test or trial to experience the service firsthand. Finally, seek expert opinions to gain additional insights.

What’s the biggest mistake businesses make when selecting an industry cloud?

Businesses often err by not aligning the solution with their specific needs, leading to various issues. Overlooking the unique demands and regulations of their industry can result in inefficiencies and compliance problems. Inadequate integration with existing systems may create data silos and disrupt workflows. Neglecting security and compliance can expose businesses to breaches and fines, making it crucial to opt for providers with robust security and industry-specific compliance.

Prioritizing cost over functionality and performance can be myopic, potentially leading to greater expenses if critical features are missing or operational costs increase. Ignoring scalability means that a solution may soon become obsolete, requiring costly migrations. Focusing solely on upfront costs without considering the total cost of ownership can result in unexpected future expenses.

Not verifying a provider’s reputation and stability risks future disruptions, while insufficient evaluation and testing of cloud solutions can mean they don’t fully meet business needs. Excluding stakeholders from the selection process can reduce buy-in and overlook important insights. Additionally, not planning for change management may hinder solution adoption.

Too many times do we see organisations committed to a cloud platform because that is what a group of developers were’ playing’ with and that ‘backroom’ solution found its way into production.

Conclusion

Strategic planning is crucial when selecting an industry cloud to ensure it aligns with both present and future business goals. It’s essential to future-proof investments by choosing a provider that regularly innovates and updates its offerings. Be aware of data sovereignty and the impact of laws on where and how data is stored, particularly for businesses operating internationally.

Environmental impact is increasingly important; opt for providers that prioritize sustainability. Ensure your choice includes solid disaster recovery and business continuity plans to mitigate the effects of unexpected events. The effectiveness of a cloud solution also hinges on a team’s ability to use it, necessitating proper training and consideration of the customer experience.

Implement feedback mechanisms to ensure the cloud service continually meets business requirements. Cultivating a strong relationship with provider(s) can lead to improved support and influence on future product developments that benefit business.

It is worth repeating, choosing an industry cloud goes beyond technical specifications; it involves making an informed, strategic business decision that takes into account immediate needs, long-term objectives and the wider industry context. It’s all about prospering in the digital economy not just survival.  Oh yes and without being repetitive, remember Cyber Security is not an option its mandatory.