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Revision as of 15:17, 24 February 2009
STORAGE ENERGY CONSUMPTION
Latest Peer Incites:
1. Six Wikibon experts break down EMC's recent analyst event (23 Mins)
2. Grant, a Sr. Storage Admin at a large bank discusses how heterogeneous storage virtualization can help reduce the budget for 2009. (20 Mins)
WikitipCloud computing in financial service organizationsWhile technology seems to be the cost and time efficiency driver in many industries, cloud computing is the emerging solution for the financial service industry, especially capital markets. In order for their assets to be used optimally by multiple consumers, financial organizations require ad-hoc access to significant computing resources, virtual desktops, shared data information, cost transparency, and “what-if” capabilities. I will list some of the most important cloud changing perspectives that can benefit large corporations and SMBs:
If you browse the financial industry news, compliance and security concerns continue to constrain the industry growth. In the last few years, private clouds offering complete control over data and security are the most widespread option used by financial organizations. On the other hand, public and hybrid clouds are still a second choice, offering less information and visibility of the data and security measures implemented in the cloud environment. Because of today’s perceived lack of control, banks that wish to move forward with public cloud computing are advised to test the model on smaller projects and less sensitive data, a recommendation I endorse. For the highly regulated financial services industry to adopt and implement cloud computing solutions with confidence there are two important aspects to be clarified, besides being more transparent in their security measures. They must build a regulatory guidance associated with cloud technologies and thoroughly see the implied changes in risk management. Therefore, I consider that cloud computing has not yet reached its potential in the financial service industry because the benefits for extended cloud use and integration of public and hybrid clouds are not yet fully acknowledged. For applied cloud integration examples in financial services, you can read more in the Wall Street article in which Amazon shares its experience: “Amazon Looks to Increase Presence in Financial Services Cloud”. If you browse the financial industry news, compliance and security concerns continue to constrain the industry growth. In the last few years, private clouds offering complete control over data and security are the most widespread option for financial organizations. On the other hand, public and hybrid clouds are still a limited choice, offering less information and visibility on the data and security measures implemented in the cloud environment. Because of today’s perceived lack of control, banks that wish to move forward with public cloud computing are advised to test the model on smaller projects and less sensitive data, a fact which I agree with. Besides increasing security visibility to financial service clients, cloud service providers need to clarify two important issues before the highly regulated financial services industry can adopt and implement cloud computing solutions. They must build regulatory guidance associated with cloud technologies and thoroughly document the implied changes in risk management. Therefore, I consider that cloud computing has not yet reached its potential in the financial service industry because the benefits for extended cloud use and integration of public and hybrid clouds are not yet fully acknowledged. For applied cloud integration examples in financial services, you can read more in the Wall Street article in which Amazon shares its experience: “Amazon Looks to Increase Presence in Financial Services Cloud”.
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Featured Case StudyFinancial giant goes greenThe corporate IT group of a very large, worldwide financial organization with 100,000 employees, has initiated an ongoing “greening” process. This is focused largely on reducing energy use both to decrease the corporation's carbon footprint while creating a net savings in operational costs over the lifetime of new, more energy-efficient equipment, including new storage systems. |
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Featured How-To Note |
Planning a Green Storage InitiativeFluctuating energy prices have heightened electricity and energy consumption as a major issue within the technology community. IT is a significant consumer of energy and IT energy costs have been rising disproportionately because of continued investment in denser IT equipment. Estimates from the EPA and others indicate that IT will account for 3% of energy consumption by 2012. |