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Cloud computing meeting big data is a disruptive technology that represents a huge opportunity for the IT world, US storage solutions supplier EMC's (NYSE: EMC) chairman and CEO, Joe Tucci, said in a keynote speech at Oracle Open World taking place in San Francisco.
There are three issues serving as catalysts for change, he said: companies' budget dilemma, a deluge of information and cyber security. And to address those needs, IT not only stands for information technology nowadays but "industry in transition."
The structure of firms' IT budgets has gone relatively unchanged over the last 10 years, Tucci noted, with about three-quarters of the outlay going toward maintaining existing IT and a quarter going to new technology. In that sense, "as an industry, we have failed."
At the same time, he cited studies predicting that from 2010-20, the digital universe will grow 44 times over to 35.2 zettabytes, with as much as 90% of that data being unstructured or "big data." Add to the mix the fact that large enterprises suffer at least 300 attempts at attacks a week.
But on the other hand, IT staffing is expected to increase less than 50% over the next decade. "We need new capabilities. Enter cloud - we believe this will provide the answers needed" to address these issues, the CEO said.
And companies are making the journey to the cloud, Tucci added, citing a Gartner study that found that 35% of companies were implementing cloud strategies in 2010, and an additional 30% were doing so this year. According to EMC COO Pat Gelsinger, the offer of today's virtualized infrastructure is ready to take on firms' mission critical applications.
Tucci believes the hybrid cloud will provide companies the efficiency, control and choice needed to increase agility.
He highlighted EMC's 16-year partnership with Oracle, as well as the companies' 70,000 mutual customers and six joint service centers throughout the world.