Excessive Cloud Spending is Proving to be a Problem for Half of Businesses

Data storage methods have advanced to the point where cloud technology is rapidly turning into the global standard, but in spite of the fact that this is the case it appears that many businesses are struggling with the expenses that cloud migration can incur. Rising volatility in the economy is making things worse because of the fact that this is the sort of thing that could potentially end up making cloud data storage requirements hard to predict with any degree of certainty.

According to this report that was just put out by Anodot, just under half of businesses, or 49% to be precise, are having a hard time managing their cloud spending. With all of that having been said and now out of the way, it is important to note that cloud waste is cited as a major factor in excessive spending by 54% of businesses that participated in this survey. Additionally, 44% of top level executives opined that their companies waste about a third of their cloud budgets for the year.

53% of survey participants highlighted that obtaining a clear overview of cloud storage requirements was a huge challenge on this front. Cloud pricing is also a bit too complex for them at this stage, and that can make them spend more than they need to which they would only realize when it is too late. 49% also stated that multi-cloud environments can be hard to keep track of, and this can result in cloud waste which is already a serious issue as has been mentioned above.

Cloud architecture that uses a multitude of tools to manage the environment are also causing wastage according to 59% of respondents. Furthermore, 73% stated that their organizations are increasing cloud capacity which can make decisions harder in the long run.

Cloud computing can be revolutionary, but low levels of clarity are impeding this tech’s ability to improve data storage for organizations. Ad hoc implementation is a huge source of concern, and more work needs to be done to streamline the industry and create a consensus regarding the best practices.

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