Security News > 2021 > February > One-third of businesses have cloud budget overruns of up to 40%

More than one-third of businesses have cloud budget overruns of up to 40 percent, and one in 12 companies exceed this number, a Pepperdata survey of 750 senior enterprise IT professionals in industries ranging from finance to healthcare, automotive, advertising and other data-intensive businesses reveals.

In 2020, for one in three respondents, cloud spend was projected to be over budget by between 20 percent and 40 percent.

One in 12 respondents said their cloud spend was expected to be over budget by more than 40 percent.

When asked how budgets were impacted by the move to the cloud, 40 percent stated that budgets stayed the same and resided with IT; 31 percent said budget became shared with IT administering; 30 percent said budgets moved into one or multiple business units.

When asked how their enterprise measures application/workload performance based on their cloud instance, 30 percent said they were using an application performance monitoring solution; 28 percent said they used cloud provider tools; almost 20 percent said a homegrown solution; 17 percent said an observability solution for insights, alerts and automation; five percent said they don't monitor at all.

Spend: Asked to estimate what they will spend this year on big data analytics in the cloud, 34 percent said between $500,000 and $1M; 26 percent said between $1M and $2M; 15 percent said between $2M and $10M; seven percent said more than $10M. Budgets: For 2020, 44 percent said they'd be on budget; 35 percent expected to exceed budget by 20 to 40 percent; eight percent of respondents believed they'd exceed budget by more than 40 percent.

News URL

http://feedproxy.google.com/~r/HelpNetSecurity/~3/S4iD2YFfXwo/