Strategic Cloud Adoption: Balancing Innovation, Legacy Systems and Financial Realities in Technology Organizations | Predict 2024

February 15, 2024

Technology organizations continue to face the dual challenge of fostering innovation while managing legacy systems, all under limited budget growth. This session explores the ongoing strategic shift toward cloud computing and addresses the key factors that will shape its future success. We examine the complex challenges organizations are likely to encounter as this transition continues, particularly how cloud adoption will reshape business models from both a management and financial perspective. Significant emphasis is placed on the growing disparity between rapidly expanding data volumes, at a compound annual growth rate (CAGR) of 23%, and comparatively slower growth in technology budgets. This gap highlights the necessity of a profound mindset shift within technology departments in the years ahead. We argue that a comprehensive understanding of total cost of ownership (TCO) will be essential, integrating efficiency and financial considerations into every technological decision. The future of digital transformation can focus on more than just technological change, but also on innovation. Our goal is to guide organizations in effectively navigating their cloud journey going forward, ensuring their move to the cloud aligns with long-term business objectives even in the face of budget constraints. 

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Host: Ben DeBow
Categories: Predict 2024
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