By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    AI analytics
    AI-Based Analytics Are Changing the Future of Credit Cards
    6 Min Read
    data overload showing data analytics
    How Does Next-Gen SIEM Prevent Data Overload For Security Analysts?
    8 Min Read
    hire a marketing agency with a background in data analytics
    5 Reasons to Hire a Marketing Agency that Knows Data Analytics
    7 Min Read
    predictive analytics for amazon pricing
    Using Predictive Analytics to Get the Best Deals on Amazon
    8 Min Read
    data science anayst
    Growing Demand for Data Science & Data Analyst Roles
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Benefits of Private Cloud Computing: Compliant & Cost-Effective
Share
Notification Show More
Aa
SmartData CollectiveSmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > IT > Cloud Computing > Benefits of Private Cloud Computing: Compliant & Cost-Effective
Cloud Computing

Benefits of Private Cloud Computing: Compliant & Cost-Effective

onlinetech
Last updated: 2011/09/15 at 3:02 PM
onlinetech
4 Min Read
SHARE

When it comes to security and compliance, private cloud computing trumps the public cloud. According to a 2011 study by the Aberdeen Group, the private cloud saves a total of 12% combined annual cost savings over public clouds on a per-application basis. When it comes to computing costs, everything adds up fast – including personnel and training, process and technology, hardware, software, services and support.

When it comes to security and compliance, private cloud computing trumps the public cloud. According to a 2011 study by the Aberdeen Group, the private cloud saves a total of 12% combined annual cost savings over public clouds on a per-application basis. When it comes to computing costs, everything adds up fast – including personnel and training, process and technology, hardware, software, services and support.

Companies that implemented private clouds also incurred 38 percent fewer costs related to security and compliance events in the past year compared to public cloud users. Public cloud users suffered from an overall 25 percent of incidents related to audit deficiencies, data loss or data exposure, and unauthorized access.

More Read

HIPAA compliant fax

Data Security Considerations Pertaining to HIPAA Fax

Data Analytics Solutions To HIPAA Compliance During Quarantine
The Benefits Of The Hybrid Cloud For Entrepreneurs
Disaster Recovery Solutions in Cloud Infrastructure
Rent vs. Buy? The Cloud Conundrum
Private vs Public Cloud Security

 

Compliance in the Cloud

However, national industry compliance standards, such as PCI or HIPAA compliance remain concerns of mid and large-sized companies. While many industries are hesitant to adopt the cloud due to security concerns, the private cloud offers a cost-effective, streamlined and secure option. The healthcare industry in particular has been known as late-adopters of new technology, but the latest incentives for implementing an electronic health records (EHR) system have trended toward demands for a secure, reliable and compliant data hosting solution. With HIPAA violations costing healthcare providers up to $1.5 million in penalties each year, the healthcare industry can’t afford to skim over HIPAA compliance when they start the transition to electronic file-keeping (American Medical Association).

Business Drivers 

The report contends that current investments in cloud computing include the more well-known drivers, including saving on physical IT costs, disaster recovery planning, faster deployment times and high level of application availability. While these investments drive many to the cloud in general, one specific driver leading companies to the private cloud include industry pressures of risk and compliance, including dealing with sensitive information (cardholder data (CHD) and protected health information (PHI)). With industry regulations come questions of how to backup, store, transmit and recover critical data collected from customers or patients.

Another driver is the demand for access anywhere, meaning more and more people with the need to access business files and data from remote locations. It’s also not uncommon for companies to deal with external and internal users – external users may include customers or business partners, while internal users are regular or temporary employees or contractors.

With overall total cost savings and less compliance and security-related incidents, the private cloud is an ideal choice for companies that require industry-regulated secure hosting solutions to protect sensitive information.

TAGGED: disaster recovery, hipaa, private cloud
onlinetech September 15, 2011
Share This Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

Data Ethics: Safeguarding Privacy and Ensuring Responsible Data Practices
Data Ethics: Safeguarding Privacy and Ensuring Responsible Data Practices
Best Practices Big Data Data Collection Data Management Privacy
data protection for SMEs
8 Crucial Tips to Help SMEs Guard Against Data Breaches
Data Management
How AI is Boosting the Customer Support Game
How AI is Boosting the Customer Support Game
Artificial Intelligence
AI analytics
AI-Based Analytics Are Changing the Future of Credit Cards
Analytics Artificial Intelligence Exclusive

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

HIPAA compliant fax
Big Data

Data Security Considerations Pertaining to HIPAA Fax

5 Min Read
data privacy and HIPAA
Security

Data Analytics Solutions To HIPAA Compliance During Quarantine

6 Min Read
Hybrid Cloud
Cloud Computing

The Benefits Of The Hybrid Cloud For Entrepreneurs

8 Min Read

Disaster Recovery Solutions in Cloud Infrastructure

8 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence
giveaway chatbots
How To Get An Award Winning Giveaway Bot
Big Data Chatbots Exclusive

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?