Cloud Computing Solution

1. Cloud Computing Solutions Benefits for Pharmaceutical Industry Pharma has a history of implementing cutting-edge technologies slowly. However, pharmaceutical businesses now have to look for ways to save costs and optimize their intricate operations. A very alluring option that provides many advantages without requiring a substantial initial investment is cloud computing. By 2023, the worldwide market for cloud computing is projected to grow to $623.3 billion. It's evident that cloud computing is becoming more popular. However, what exactly is cloud computing? The phrase is defined differently by tech businesses. Cloud computing is not so much a specific technology as it is a model. Because it enables pharmaceutical and life sciences businesses of all sizes to access their IT-based services over the Internet, cloud computing offers virtually endless possibilities. In general, there are four different types of cloud computing: Private Clouds This data-storage environment is restricted to a single company for private use. It can be built within your company’s own data center or located off-site. The primary purpose of these types of clouds is to produce virtualized application, infrastructure, and communications services for internal use. Public Clouds The public cloud computing market alone generated over $130 billion in 20171. Third-party providers over the Internet offer these public clouds. These are available to anyone who wants to use or purchase them. Customers typically pay only for what they use, and the usage is measured by CPU cycles, storage, or bandwidth. Hybrid Clouds Hybrid clouds merge the benefits of public and private clouds. They enable companies to preserve confidential information in a private cloud, and at the same time, have access to a much wider choice of applications available in public clouds.

2. Community Clouds Organizations in the same industry sometimes join together to share their resources and create community clouds. This type of cloud can be hosted internally or by third parties. Regardless of the form, cloud computing provides on-demand access at one or more of the following levels: ● At the infrastructure level - infrastructure-as-a-service (IaaS) ● At the platform level - platform-as-a-service (PaaS) ● At the application level - software-as-a-service (SaaS) ● At the business process level - business process-as-a-service (BPaaS) Conclusion Cloud computing truly represents a revolutionary opportunity for pharmaceutical and life sciences companies. There are countless possible ways of application, all of which can improve efficiency in some way. The positive impact is almost immediate, in fact, almost 80% of companies2 report significant operational improvements within the first few months of adoption. Pharmaceutical companies should consider making cloud computing as an integral part of their business model and not limit their use to specific areas only. For example, they could develop new, innovative therapies through a design process that combines artificial intelligence and cloud computing. They could also use cloud-based analytics to understand patients by using these tools for managing patient records through various apps. To learn more about all of P360’s innovative products, visit P360.com.