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Weekly CloudNews: 94% of enterprises are overspending in the cloud

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Welcome to this week’s edition of CloudBolt’s Weekly CloudNews!

Here is this week’s news:

94% of enterprises are overspending in the cloud: report

Anirban Ghoshal, CIO.com, August 5, 2022

“A vast majority of enterprises surveyed globally are overspending in the cloud, according to a new HashiCorp-Forrester report.

“In a survey that saw [the] participation of over 1,000 IT decision makers across North America, Europe, Middle East and Asia-Pacific, 94% of respondents said their organizations had notable, avoidable cloud expenses due to a combination of factors including underused and overprovisioned resources, and lack of skills to utilize cloud infrastructure.” READ MORE

4 reasons projects fail – and how to avoid them

Pallavi Kenkare, ZDNet, August 9, 2022

“Digital transformation – the use of data, tech, algorithms, machine learning and more to develop new models of work and serve stakeholders – can enable companies to achieve growth via previously untapped potential. According to Mordor Intelligence, digital transformation was valued at $263 billion in the manufacturing market alone in 2020. By 2026, it’s projected to reach $767 billion.

“Despite the seemingly limitless rewards, organizations remain wary of digital transformation. Almost three-quarters (70%) of digital transformations fall short of their objectives, often with profound consequences, according to Boston Consulting Group, who suggest that delivering fundamental change at scale in large, complex organizations is challenging.” READ MORE

Engineering, Finance Teams Struggle to Connect Cloud Costs, Business Value

Nathan Eddy, ITPro Today, August 8, 2022

“Visibility into cloud costs is a challenge for most organizations, with engineers and finance teams struggling to correlate their investment in cloud technology with the value it brings to the business.

“This was among the findings of a CloudZero survey, which asked more than 1,000 engineering and finance professionals to weigh in on the various dimensions of their cloud cost strategies.” READ MORE

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