Sorting through what cloud benefits might mean the most to your company as well as talking through how to best use the cloud can sometimes be overwhelming. Today let’s look at thoughts from Rashik Parmar of IBM’s Thoughts on Cloud. He studied more than 100 cloud projects all different sizes and found five ways in which most companies use the cloud to innovate and to benefit:
- Use cloud to offer your services through an application program interface (API). Mr. Parmar writes, “The first and easiest way cloud can help you innovate is to use cloud as a route to market. APIs are the digital services you provide. Partners and customers can pay for these services as they use the APIs. PayPal is an ideal example, as a wide range of mobile apps and web-based businesses use its API.”
- Use the cloud to capture new data
- Use the cloud to create a “data-as-a-service” revenue opportunity. Mr. Parmar explains, “Every large enterprise builds vast lakes of data to support their business and allow its leaders to make smart decisions. However, not all of this data is confidential to the business and could be valuable to others. In many cases, organizations would be willing to pay for certain data. Cloud allows you to provide data as a service in a manageable way, which helps organizations capture value. There are risks to consider when sharing data, foremost, privacy and ethical use.”
- Use the cloud to integrate data from different sources and locations
- Use the cloud to go more “digital”. Examples from Mr. Parmar’s article include digital blue prints and learning that can be moved “online” by using the cloud versus more traditional approaches
What on this list captures your attention as a way to innovate with cloud at your company?