Technological progress and globalization have led to significant changes in the methods of collecting, accessing, and using data. One example of this is the growing use of cloud computing, a business and technology service delivery model.
Cloud computing enables the provision of data processing and storage services on a massive scale across a set of servers that host user information, which can be accessed via the internet at any time.
There are three types of cloud computing service, depending on the technology layer provided and, therefore, the level of control the end user has over the technological infrastructure:
- Infrastructure as a Service (IaaS): a model in which hardware systems are provisioned, such as access to servers, computing capacity, storage systems, or communication devices. The user has full control over the operating systems, applications, and databases running on the supplied hardware. Examples include Amazon or Microsoft Azure services.
- Platform as a Service (PaaS): a model in which a development environment is provided where programmers can create, test, and/or run their software applications. In this model, the provider offers the use of its platform, which in turn is hosted on its infrastructure. The end user has control over their applications and, in many cases, over the environment configuration. For example, the Google App Engine service allows users to create and host web pages on Google’s infrastructure.
- Software as a Service (SaaS): a model in which end applications are offered that are hosted and run on a physical and application infrastructure controlled by the provider (on the cloud infrastructure). The technology used to provide the service is completely transparent to the user, who only has access to an application interface for information processing. For example, Gmail, Dropbox, Apple’s iCloud follow this model—these are the services best known to end consumers—but also complete sales and marketing management suites for clients such as Salesforce.
Depending on how cloud services are delivered, there are different deployment models:
- Public cloud: services are available to any user with internet access. Typically, these services are offered by technology companies from their own premises, and users share the provider’s infrastructure.
- Private cloud: the cloud infrastructure is for the exclusive use of a single user (or organization) comprising multiple consumers. The infrastructure may be owned and managed by the organization itself, by third parties, or by a combination of both. The infrastructure installation may be located on or off the user’s premises.
- Hybrid cloud: combines public and private cloud models, so that part of the service is offered privately, such as the infrastructure, and another part is offered on a shared basis, such as development tools.
In recent years, there has been growing interest in the banking sector in cloud computing as a means to support sustainable business digitalization. Cloud storage eliminates the acquisition and maintenance costs of investing in one’s own storage infrastructure, thereby increasing efficiency, enhancing agility, and providing the organization with global scale.
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