A Cloud Computing readiness approach can be adopted by capital market and other financial firms to make clear decisions upon their approach of handling day to day fiscal problems and to adapt the cloud computing services on the go.
In this digital age of computers and networks, one of the major discovery in information technology is Cloud computing. Cloud Computing is a wireless shared stream of resources networked to offer wide range of services. The services include storage, servers, software development platform and all the web hosting services in a “virtual” environment. It is the data manipulation and services offered over internet in pay-as-you-go model, which means you do pay only for what you use. No advance payment or post payment.
Role of Cloud Computing in Financial Market –
- Software as a service (SaaS):
A cloud-based Customer Relationship Management (CRM) platform that can be used by a firm to connect with customers and staff representatives.
- Platform as a service (PaaS):
A platform cloud that helps developers build, host and scale applications throug datacenters and host web applications on the same systems.
- Infrastructure as a Service (IaaS):
An infrastructure cloud web service that provides resizable compute, storage capability and network capacity on the cloud.
- Business Process as a Service (BPaaS):
An Online business process services for HR, benefits administration and outsourcing of various tasks.
- Data as a Service (DaaS):
A public data service that makes large datasets easy to explore, visualize and communicate for trading and investment purposes.
- Public Cloud: It is open to all around the web. The cloud provider manages and owns everything from operations and facilities to manipulate resources.
- Private cloud: A private cloud is available only to trusted and confidential group of users of an organization or group of the financial firm.
- Hybrid cloud: A hybrid cloud is a mix of multiple public and private clouds.
- Community Cloud: A community cloud is accessible to the members of a larger community comprised of different organizations under the same cloud to share and address the resources.
Features of Cloud Computing Services:
- Resilient resources accessed in self service mode with pay for use basis.
- Depending upon the size of the business the bandwidth requirements is calculated.
- Bandwidth of the spectrum and the accessing of services is directly proportional.
The key Benefits of Cloud Computing are:
- Business agility in upfront cost cutting.
- The capital expenditure of hardware maintenance and management is fairly reduced.
- Cloud leverages the power and performance of the service by accessing the remote resources.
- And if your computer breaksdown don’t worry all your data are in cloud.
- There by ensuring data security and compliance.
- The accuracy and speed of software implementation is greatly achieved.
- The growth prospects is maintained in time to market business strategy.
- Complexity is much lowered with the help of middleware as a service.
- Highly portable, the data, apps, service deployments can be made possible anywhere anytime at any device provided your are connected via internet.
Cloud computing services accelerates the business in Financial Market by, Cost Reduction, Optimizing Resources, and Improving the Market Activities.
In much simpler terms internet of things collects big data with various devices and store it in cloud and the same being accessed and controlled in cloud. That is cloud is the stream of medium for the gamut of data to sail through and get processed. This Cloud computing is shrinking the world to access and process the data in the speed of light.