Cloud computing is considered to be the next wave of information technology for companies, individuals, and governments. Augmenting the ability of companies to store their data about significant trend information, such as the moves of competitors in the marketplace and the changing needs of customers.
Helping developing economies bounce to greater levels of technical development by offering them more affordable and immediate access to next generation tools, applications, and infrastructure. Making even the playing field amidst small and large organizations by providing firms of all sizes access to information technology that were previously affordable and accessible by only the largest of organizations. In fact, researchers have found that organizations that are currently using or that are planning to use cloud storage services do not seem to consider reduction of costs as the most significant potential advantage. Cloud technologies altogether are believed to have more considerable effect than other mobile technologies, especially in areas of creating new jobs and businesses, enabling developing economies to leap in their individual economic development, and enhancing education systems.

Despite all these benefits, cloud storage users are also concerned about few issues like security and reliability, which the cloud storage companies are continuously working on resolving. In addition to cutting down operational costs, cloud storage has also become the ground for new business models and radical business innovation and for considerable enhancements in the effectiveness of anyone employing information technology.
The ability of organizations to access computer applications and other software through the cloud, thus eliminating their burden of having to build and maintain their very own technology infrastructure makes it potentially irresistible. This is done by enabling more effective collaboration between product development specialists all around the globe and by allowing access to more economical and powerful computer resources. While cloud storage is, indeed, reducing costs, government and corporate executives consider the greatest advantage of cloud storage is the better support it offers for developing new products and services, and actually, innovation in general.
In addition to IT and telecom industries, cloud storage is also believed to have greatest influence on the industries of education, media, health care, and media as well.

Several surveys and studies have proved that numerous organizations across various industries, such as educational, government organizations, etc., have benefitted to a large extent via cloud storage.
In developing economies like India, few major advantages offered by cloud storage include lower upfront investment, scalability, and mobile access.

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