Across multiple industries, CEOs are considering various ways to increase value provided to customers and shareholders while simultaneously lowering overall costs. Due to a flatlined economic growth rate and increasing accounts of industry disruption, companies are moving to the cloud even more quickly.
Trends analyzed by Dimensional Research show that companies are beginning to move their application development to the cloud at a rate of 20% year over year. According to Oracle CEO Mark Hurd during his keynote at Oracle OpenWorld 2017, this adoption of cloud technology allows companies to increase resources toward initiatives like product and service innovation, as well as more valuable customer experience applications.
“The movement to cloud is an inevitable destination. This is how computing will evolve over the next several years.” – Mark Hurd
With moving an increased about of applications and services to the cloud, security is a top priority for Oracle. With a single cloud stack, introducing over 3,500 applications and over 125 platform services, Oracle is able to secure its cloud much easier than its customers are able to with traditional data centers.
Oracle customers Caesar’s Entertainment, Bloom Energy, and Gap, Inc., have each used Oracle Cloud to take their businesses to the next level. Caesar’s Entertainment was able to save millions of dollars after migrating its financial accounting software to the cloud. Bloom Energy utilized Oracle financial and planning software to accurately assess growth rates and scale effectively. Gap, Inc. implemented Oracle Retail Cloud to create a unified customer and e-commerce experience across 1,300 company stores and 4 retail brands.
Because of Oracle’s immense budget for research and development (over $5 billion annually), the company has the resources and ability to enhance cloud services for customers, alongside continuously analyzing new areas for innovation.
Read the full article on Oracle.com.