Businesses to have exceeded their cloud budget in 2020

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A new study by analytics company Pepperdata revealed the unexpected costs that come with the adoption of cloud platforms.

Indeed, the study collected 750 senior enterprise IT professionals’ insights about what switching to the cloud entails. It was found out that in 2020, 1/3 respondents had spent between 20% and 40% more than they had envisioned, and 64% stated that cost management and containment was their main worry regarding running cloud big data technologies and applications.

Moreover, more than half of the participants declared that optimizing their current cloud resources was their main priority for big data cloud initiatives.

Therefore, the study revealed the importance of visibility into big data workloads as well as the essential need for automated optimization as a means to control runaway costs. Indeed, many companies indicated that they lacked control over cloud spend.

As a result, more than 34% of respondents stated that they planned on spending between $500,000 and $1 million in 2020 on big data analytics in the cloud, with less than 45% of respondents declaring that they didn’t expect to stay on budget.

Furthermore, the study found out that private clouds remain very popular.

Hence, it is clear that 2020 witnessed a major shift to cloud platforms with organizations moving their systems online due to the lockdown.

 

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