Cloud – Accessing Data from Anywhere

Cloud computing includes IT services providing, including servers, storage, databases, network management, software, analysis tools, and artificial intelligence, through a special system to offer faster innovation, flexible resources, and economies of scale.

Author: Ana Nives Radovic
Publication: Fintechlopedia 2021
Presented in association with Visa Inc.

Cloud computing refers to a range of on-demand services that are provided over the internet. It is a technology that allows users to store and access their data and applications on remote servers instead of their local hard drives. Cloud computing can be used by individuals, businesses, and organizations, and there are different types of cloud systems available to cater to their diverse needs.

There are three main types of cloud systems – public, private, and hybrid. Public cloud systems refer to cloud infrastructures that allow users to store their data on servers that are also shared with other users. These servers are hosted by third-party providers and are accessible over the internet. The number of users that can access these servers is limited, and users pay for the amount of data they store on the server.

In contrast, private cloud systems are dedicated infrastructures that are built and managed by organizations for their internal use. The servers are not shared with other users, and the organization has complete control over the data and applications stored on these servers. Private cloud systems are generally used by larger organizations that require a higher degree of security and customization.

Hybrid cloud systems, on the other hand, are a combination of public and private cloud systems. These systems allow users to store some of their data on private servers and some on public servers. This offers users the flexibility to store their sensitive data on private servers while leveraging the scalability and cost-effectiveness of public cloud systems for their other needs.

Cloud computing offers users several benefits, including reduced costs, increased scalability, and improved accessibility. With cloud systems, users no longer need to invest in expensive hardware and software or worry about maintaining and updating their systems. Cloud computing providers take care of all these tasks, freeing up users to focus on their core business operations. Additionally, cloud systems offer users the ability to scale up or down their resources as per their needs, ensuring that they only pay for what they use.

The concept of cloud computing has revolutionized the way in which businesses operate their IT infrastructure. Cloud systems provide on-demand services via the internet, with all data stored remotely on a server rather than a user’s hard disk. Among the different types of cloud systems available, the public, private, and hybrid cloud systems are the most common.

Public cloud systems, for instance, are IT infrastructures that are owned and managed by cloud providers. Clients can access these services via the internet without managing their own IT systems. Public clouds allow companies to quickly add more users or computing power as needed, as they provide an almost infinite amount of data. Although multiple tenants share a particular IT infrastructure, the cloud provider ensures data security and access control.

On the other hand, private cloud systems are solely owned by a specific entity. These systems are suitable for companies that require complete control over their data, software, and applications stored on their servers. Private clouds can be hosted on the company’s premises or in a data center managed by a cloud provider. This type of cloud system is used exclusively by companies and offers the highest level of security and control, ensuring that sensitive data and intellectual property are kept safe.

It’s important to note that hybrid cloud systems combine elements of both public and private clouds. Hybrid clouds allow companies to keep sensitive data on a private cloud while utilizing the public cloud for non-critical applications. This type of cloud system is ideal for companies that want to keep sensitive data on a private cloud while taking advantage of the flexibility and scalability of a public cloud system.

Cloud computing has revolutionized the way we store and access data, offering a range of solutions that enable various services to be provided on-demand over the internet. One of the most popular models of cloud computing is the hybrid cloud, which combines elements of both public and private cloud systems to offer enhanced flexibility and application options.

In a hybrid cloud system, a client typically hosts their core applications on their own servers to increase security and control. However, they may store their secondary applications on the premises of a cloud storage services provider. This approach allows for a combination of on-premise and cloud-based resources to be used, providing users with greater flexibility and control over their data.

One of the key advantages of hybrid cloud systems is that they allow for large storage spaces without the need for additional hardware upgrades, making them an ideal solution for portable devices with limited storage capacity. Additionally, data stored in the cloud can be accessed from anywhere with an internet connection, which increases mobility and productivity.

It is important to note that storing data in the cloud requires a certain level of trust in the cloud provider. While cloud providers take security seriously and have measures in place to protect data, there is always a risk of data breaches or unauthorized access. As such, users must choose their cloud provider carefully and take appropriate steps to secure their data.

Hybrid cloud systems offer a range of benefits, including increased flexibility and application options. However, users must be mindful of the risks involved and take appropriate measures to ensure the security and privacy of their data.

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This content was brought to you by VISA, the global leader in digital payments, whose mission is to connect the world with an innovative and secure payment network to enable individuals, businesses, and economies to grow.

Visa is the general partner of the Fintechlopedia project, an electronic glossary containing all relevant elements of digital transactions and related phenomena, situations, processes, and innovations.


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