Cloud computing gives competitive edge to businesses

While cloud computing has become a buzzword among IT departments, some companies still don't know that utilizing the technology can create an advantage, allowing businesses to surpass competitors that don't use the services. Businesses should understand the cloud and how it can improve a company's edge, according to an InfoWorld report.

The first and most obvious trait of the cloud is its ability to reduce overall IT costs. Using the cloud, companies can avoid paying massive amounts for data center upgrades and use those savings to lower prices on products for their customers. As a result, increased sales and higher profits are likely to follow, the news source reported.

Additionally, the cloud allows businesses to use data in a more efficient way. By gaining access to massive amounts of information, organizations using the cloud can gain more insight on customers and, as a result, turn that knowledge into profit with more relatable products, InfoWorld noted.

According to IDC, spending on public cloud computing services will grow to nearly $73 billion in 2015. This suggests that more businesses are taking advantage of the cloud, requiring other organizations to follow suit or be left behind.

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