Cloud adoption is on the rise, but cloud waste is a major challenge

Cloud computing today has become a business phenomenon. Cloud adoption is reaching heights day by day. The global public cloud spending is anticipated to grow at a CAGR of 6.3% from US$242.7 billion in 2019 to US$257.9 billion in 2020, according to Gartner. In Q2 2020 alone, global cloud infrastructure spending grew 31% to $34.6 billion, Canalys’ quarterly report claimed. However, in all this, if organizations don’t have effective management in their cloud use, they can lose huge money leading their cloud efforts to waste.

Cloud waste is a critical challenge for companies utilizing cloud services. As more and more businesses shift to the cloud, cloud waste will also grow. According to a self-service SaaS platform provider ParkMyCloud, cloud waste resulted in business losses of US$14.1 billion in 2019 alone. The major reasons behind cloud waste are oversized resources, idle run-time, and excessive centralization.

Thus, how to avoid cloud waste to power business performance?

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