Round-the-Clock Access to Data from any Computer or Tablet

By Uğur Doruk Kırbeyi

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THROUGH THE EYES OF THE PEERS

Access to data has never been easier than ever with the widespread use of cloud storage services. Cloud storage is a type of computer data storage in which the data is digitally stored in physical storage servers, often referred to as “the cloud”. These physical storage servers, often managed by a hosting company, could be constituted from multiple servers and multiple locations. Along with the responsibility of keeping the client data available and accessible, these cloud storage hosts keep their servers protected and secure. Their easy accessibility allows anyone from individuals to big scale companies to utilise these services.

Capital Knowledge Management Tech at Ataol is the new and fast-growing ESG and sustainability, financial data analysis and visualization, tech due diligence, and legal affairs internship programme in the space of M&A.

Cloud storage is made up of many distributed resources. However, to the client (or the user), it acts as one resource, either in a federated or a cooperative storage cloud architecture (Vernik). As data is divided into many physical locations, which then could also be copied across several locations, these services are highly fault tolerant. Therefore, cloud storage offers backup proof for natural disasters. Copying of data also implies durability for the data as the creation of versioned and dated copies allow the user to sometimes access their previously saved data.

One of the most useful advantages of the widespread usage of cloud storage is being able to access one’s data at any time, at anywhere, at any device.

The increased number of service providers allows individuals or companies to pay for the storage they actually use that is usually classified as an average of consumption during a month, quarter, or year (Kusnetzky). This, howe- ver, does not imply that cloud storage services are less expensive. The difference is that cloud storage services are a type of operating expenses rather than capital expenses. Businesses also have the option to choose between off-premises and on-premises cloud storage options, or a mixture of the two options. The decision depends on initial direct cost savings potential as in the continuity of operations (COOP), disaster recovery (DR) and security (PII, HIPAA, SARBOX, IA/CND) (Ochs). Thus, storage maintenance tasks, such as purchasing additional storage capacity, are usually offloaded to the responsibility of a service provider (Kusnetzky).

On the other hand, there are some concerns in regards to cloud storage. One of the most prevalent of them is the security of the data. For instance, outsourcing data storage increases the attack surface area (Northcutt). The distribution of data, the network connection that is required because of this distribution, and the often overlooked human factor are factors that constitute this increase. Increased distribution of data leads to increased risk of unauthorized physical access. In cloud databases, network components and software are vulnerable to attacks via their physical ports, channels, devices and interfaces. As the number of network data travels increases, it becomes more exposed for software attacks.

Instead of just a local area network (LAN) or storage area network (SAN), data stored on a cloud requires a WAN (wide area network) to connect them both. Human attack surfaces have a complex range of vulnerabilities. Malicious intent, inadvertent errors, and misplaced trust can all be exploited to cause great harm (Brocklehurst).

It’s, a project of trust, a project where participants are encouraged to learn and to share their knowledge, a project where having fun and sharing great moments.

Another concern is the longevity of the service, and thus one’s data. Businesses and companies can always change or cease to exist, along with the services or products that they provide. Even contracts or agreements can become useless when a company shuts down. Therefore, outsourcing the data storage for sensitive data is always something that implies uncertainty and risk (Kusnetzky). This also ties in with the availability of one’s data, which is another similar concern. Reliability and availability depends on wide area network availability and usability both in hardware and in software (in terms of the algorithms that are used).

Finally, it can be said that cloud storage comes with a great deal of advantages as well as risks that should not be overlooked. If a service such as cloud storage is to be used, a considerable amount of research and risk management should be done to minimize potential loss. Access to quick and easily stored data from anywhere and any device around the clock may seem like a marvellous deal, mostly for individuals and small companies. Although it may seem approachable with its advantages, the limitations should also be considered when making a decision.

Ataol is a financial advisory partnership, offering mergers & acquisitions advisory, corporate finance and related services.

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Capital Achievement (The Lab) at Ataol
Capital Achievement (The Lab) at Ataol

Written by Capital Achievement (The Lab) at Ataol

We are a group of entrepreneur-interns driven by the passion to continuously deliver value to our activities within Ataol.

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