As every good software engineer knows, not all clouds are equal.
Where some instances are optimised for compute processing, some are tuned for analytics, specific Input/Output (I/O) prowess, superior memory performance, specialised data analytics functions, more intelligent data storage extract-transform-load operations… or some combination of all of the above.
As every good software engineer also knows, some instances of cloud will be inherently better suited to public cloud environments, some will require private cloud control limitations… and some will require a hybrid combination of the two.
But, of course, the news that hybrid cloud is the way forward will come as no surprise.
What is (arguably) more interesting is where hybrid cloud software application development and data services are flourishing – yet (and at the same time) – there is a particular drive for the need for private instances.
This [introduction & exposition] goes some way to highlighting the suggested findings that have emanated from Nutanix announcing the financial services industry findings of its third annual Enterprise Cloud Index Report.
White around half of respondents say the pandemic has caused them to increase their investment in hybrid cloud, private cloud also has a growth factor as noted below.
In the industry’s five-year outlook, hybrid cloud is the only IT model showing positive growth among financial company respondents and it is expected to increase by 39% in that timeframe.
… and here’s the private cloud defining line…
Some 43% of financial services companies plan to increase their investment in private cloud over the next year, 10% higher than the global average (33%) – “pinpointing that private cloud adoption is crucial to creating a modern hybrid cloud,” says Nutanix, well – yes… if we accommodate for the fact that private is particularly well suited to the privacy needs in the financial sector which, arguably, we should.
Actually, it’s not just privacy – Nutanix notes that financial services organisations rank security, privacy and compliance issues as the most concerning when running applications within public cloud solutions (62%) – hence the need for a private-hybrid combo mix.
“Whether to beef up security, on-board new apps during M&A activity or reach out to new markets, financial services firms value agility and the ability to deploy IT workloads to the infrastructure that best suits them,” said Dom Poloniecki, general manager for sales, Western Europe and Sub-Saharan Africa at Nutanix.
Other information here suggests that investment in hyperconverged infrastructure shows the industry’s confidence in private cloud i.e. nearly 50% of financial sector respondents say they’ve either fully deployed HCI or are in the process of doing so, while 38% report they will be deploying HCI within the next 12 to 24 months.
This investment is directly aligned with increased private cloud adoption, as HCI reduces the time it takes to build the software-defined, scalable infrastructure necessary to support private cloud.
Decommissioning legacy datacentres
“Historically, financial services organisations have explored public cloud offerings when decommissioning legacy datacentres,” said Tapan Mehta, director, Industries Solution Marketing at Nutanix.
Mehta concludes by explaining that as the industry continues to place greater interest in data privacy and compliance issues, organisations are turning to the private cloud.