Cloud Computing Adoption - Assignment
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Added on 2020-03-28
Cloud Computing Adoption - Assignment
Added on 2020-03-28
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Running head: CLOUD COMPUTING ADOPTION (RISK ASSESSMENT FOR AZTEK)Cloud Computing Adoption (Risk Assessment for Aztek)Name of the StudentName of the UniversityAuthor Note
1CLOUD COMPUTING ADOPTION (RISK ASSESSMENT FOR AZTEK)Executive SummaryThe purpose of this report is to present a risk assessment for the Aztek for the threats, issues,vulnerabilities, and risks that could arise within the organization after adopting Cloud Computingwithin the system. Australian finance industries are showing their interest on this technology andadopting it for the beneficial factors and least expenditure on the resources. This could providethe organization benefits of access to the data and information at anywhere via connecting to theinternet. Installation is much easier and not extra expanse has been made for the maintenance ofthe information as the third party that is providing the cloud services took all the responsibilitiesof the maintenance. Despite of all these advantages, there are certain challenges, risks,vulnerabilities, and issues in adopting cloud computing within the organization. This could evenraise data security issues that lead to the necessity of the information security managementwithin the organization. This report proposes a risk assessment in manner to support theinformation security management and minimize the risks to the extent level. This report alsoproposes a severity matrix that can be beneficial in prioritizing the securities based on theirimpact. Data security has also been discussed in this report and related issues and measures tomitigate them.
2CLOUD COMPUTING ADOPTION (RISK ASSESSMENT FOR AZTEK)Table of ContentsIntroduction......................................................................................................................................2Cloud Adoption in Australian Finance Sectors...............................................................................2Current State and Approach to Cloud computing........................................................................2Cloud adoption Example (Finance Industries)............................................................................4Challenges........................................................................................................................................5Security Issues.................................................................................................................................6Threats, Assets, Vulnerabilities, and Risks Assessments................................................................9Risk Assessment Matrix............................................................................................................14Conclusion.....................................................................................................................................15References:....................................................................................................................................16
3CLOUD COMPUTING ADOPTION (RISK ASSESSMENT FOR AZTEK)IntroductionNew world is moving rapidly towards being digital and Cloud computing is offeringindustries to be more automated and much efficiently led the operational activities. Australianfinance industries have been implementing Cloud computing for the enhancement of theirperformance. It was becoming heavy burden for the industries to manage the in-house ITdepartments and Cloud computing is providing the solutions for those issues. Cloud computing ismuch cheaper than the in-house IT departments and it has been maintained by the third party thatimplies that the organization will have to no worry about the maintenance and services related tothe data and information including the information security management. Most of the Australianfinance industries have not adopted Cloud computing in their existing system yet however manyof them have adopted it. Cloud Computing can be defined as the on-demand service that allows the users to storedata in the Cloud and let them access wherever they want via connecting to the internet. Thisbasically performs on three platforms that can be listed as: SaaS (Software-as-a-Service), PaaS(Platform-as-a-service), and IaaS (Information-as-a-service). These platforms are being deployedthrough four basic models that can be listed as: Public Cloud, private Cloud, Hybrid Cloud, andCommunity Cloud.Cloud Adoption in Australian Finance SectorsCurrent State and Approach to Cloud computingAustralian finance industry is in its toddling stage of Cloud adoption as many of thefinancial industries’ range of Cloud based services are limited. For some of the cases the
4CLOUD COMPUTING ADOPTION (RISK ASSESSMENT FOR AZTEK)consumers would not be aware of the services that could be provided by the Cloud computingand its approach is still not strategically sound. A survey (made by) suggests almost 88% of thefinancial industries are using Cloud-based services and implementation of Cloud computing at itsutmost pace and among them 81% of the industries were aware with the services offered byCloud computing (Chang, Walters & Wills, 2014).Due to the common approach for financial industries 50% of the Australian Financeindustries are linked to the use of hybrid of private Cloud and public Cloud. In-house IT andmoving non-critical services like content management tools, collaboration and emailmanagement to the Cloud based services is being practiced by 40% of the industries. Some of thefinancial industries are using Cloud services as a testing environment in manner to plead thedevelopment of use cases that could be better option for assessing the hybrid of Public Cloud andon premises, in-house hosting applications of the Cloud services (Schulte et al., 2015). Thefinancial industries are also using it as test beds for new and innovative applications and amongall the industries only 8% of the industries are using strict Private Cloud only policy. Complianceand privacy concerns including the confidence that the Private Cloud can satisfy the businessrequirements of the organization are its main objectives. 92% of the industries that are usingCloud based services have a strategically developed strategy that is based on hybrid of Privateand Public Cloud hosted both in-house and externally IT services. It can be stated based on thediscussion that the confidence among the financial industries has been increasing towardsadopting Cloud Computing services within the system of the organization (Gai, 2014).Otherwise, a certain level of prudency on the context of migration towards Cloud computing canalso be noted. Digital transformation of the business is still preferable to many consumers ratherthan migration of their data to the Cloud.
5CLOUD COMPUTING ADOPTION (RISK ASSESSMENT FOR AZTEK)Cloud adoption Example (Finance Industries)CME Clearport OTC Data on-demand: An on-demand Software-as-a-services(SaaS) web service working on the same platform Xignite and is proving to be helpful in offeringaccesses to end-of- day OTC volume, open interest, and settlement data in manner to providesupport to the markets that are available through CME Clearport® (Pattnaik, Prusty & Dash,2016). NASDAQ OMX Data on-demand: Known software that provides flexibility and easy access tomassive amount of data is Software-as-a-service (SaaS) and is made available to the market bythe support and skills of Xignite. API (Application programming interface) can be used to get anaccess to it and can be helpful in managing users to purchase data online as a web application togive it more comfort ability. It can also be used as plain texts (Mahmood et al., 2014). Microsoft Azure DataMarket for the Energy Industry: For enabling the exploration,discovery and consumption of data from the commercial data sources and trusted public domainsCloud services offered by IT giant Microsoft DataMarket SaaS. Public domains for example,health, demographics, weather, real estates, navigation, transportation, and location- basedservices, and many more are making its use to the limit. Analytics for enabling insight from thatdata and visualization is also included in it (Coleman et al., 2016). For incorporating these datainto software applications for any of the devices common API are the easiest approach. To createanalytic applications and energy forecasting many of the energy industries have been using theseplatforms.Gridglo real-time energy apps: Due to the demand of the services many firms arejumping in the competition of one of the startup, Gridglo is developing SaaS services for their
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