A new group of 'cloud masters' is emerging, which have reached cloud maturity (with on average 70 percent or more of their applications operating in the cloud) and are outperforming their competitors, according to a global survey by Oracle.
The research showed that these 'cloud masters' are more data driven being better able to access, experiment and get insight from their business information, innovative and better able to respond to customer needs with greater relevance, speed and agility.
They've also seen the largest increases in productivity and competitiveness. Together, these organisations are disrupting the industries in which they operate, leaving their peers behind.
The remainder is playing catch up despite most having a cloud strategy in place and implementation underway. While just under a half (43 percent) of Indian IT executives surveyed stated that their cloud strategies are fully-developed and largely implemented, only a very small percentage, even globally, can be classified as 'cloud masters', revealing a gap between what companies are talking about and what they are doing.
In terms of cloud strategy implementation in India, a similar proportion (40 percent) reported that strategy implementation is progressing. Nearly a fifth (18 percent), however, said their strategy development for cloud is in its infancy.
Cloud is not the only technology investment that Indian businesses are looking to make in 2018. Oracle's research found that businesses in India are looking to capitalise on new, innovative technologies, such as open source, multiplatform capabilities and visual tools in the next year.
Additionally, nearly a quarter (23 percent) of IT executives from India felt that automation capabilities were important to the business, and a fifth put an importance on AI and machine learning within the organisation.
"In 2018, the gap between 'cloud masters' and those lagging behind has the potential to widen significantly. What we are seeing is that those with the most experience are the quickest to exploit the new enterprise technologies and development methodologies and to use them to wow customers or develop competitive advantages before they become mainstream," said Andrew Sutherland, Senior Vice President of Systems and Technology for Oracle Europe, Middle East and Africa (EMEA) and Asia Pacific (APAC) at Oracle.
"This speed to market comes from having the experience to apply the emerging technologies to business and from having invested in the right cloud platform, infrastructure and tools. This means they can accelerate their way to competitive success - and if other businesses don't catch up now, they could be permanently left behind," he added.
Although 81 percent of Indian respondents agree that cloud adoption offers the ability to better meet customer demands, enable greater collaboration, improve scalability and agility, concerns over security remain a barrier; 45 percent feel there are major security issues in moving IT operations and data to the cloud.
However, 78 percent say they believe application security in the cloud is better than previously. At the same time, globally, respondents with a higher level of cloud maturity and exposure revealed themselves to be more confident in their cyber security capabilities than companies less ingrained in cloud - 65 percent rated their cyber threat detection as good to very good compared to 38 percent.
The survey also highlighted a stark difference in analytics capabilities between those with a significant cloud exposure and those of lesser maturity. Globally, more than 60 percent of cloud-mature companies say they have an increased ability to analyse most types of data and are taking advantage of improvements in machine learning-based automation and visualization, compared to nearer a third of companies at a lower stage.
Eight in 10 cloud-mature companies say they're realising important gains from migrating data management to the cloud and able to experiment with different data models, and nearly as many say they generate better insights from their data. This is in comparison to around a half of organisations with lesser cloud maturity.
Critically, it is firms that integrate their data analysis capability into a single cloud platform that provides secure access to data in both on-premises and cloud data sources that are experiencing the greatest gains.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)