Technology and budgets aren’t always friends. IT has a long history of budget overruns due to changing expectations and goals, and poor cost projections. InfoWorld brought this topic to our attention in their article, “Why many enterprises waste money in the cloud.”

Many in IT don’t understand budgeting or how to predict what things will cost. Most choose whatever resources they think they will need with the objective of achieving the best possible outcome. Surprisingly, expenses began to rise as organizations started leveraging cloud computing.

A recent survey showed that enterprises waste one third of today’s cloud computing investments. Apparently companies have a hard time deploying cloud projects that work at their most efficient. Instead, a big chunk of cloud investment goes to waste. 

Research shows that 51% of IT budgets will go to cloud-based systems development and operations by 2025. It is apparent we need to get a handle on projections for cloud projects.

Finding data is key. Metadata makes digital content findable. However, findability works only when a proper taxonomy is in place. Proper indexing against a strong standards-based taxonomy increases the findability of data. Access Innovations is one of a very small number of companies able to help its clients generate ANSI/ISO/W3C-compliant taxonomies.

Melody K. Smith

Data Harmony is an award-winning semantic suite that leverages explainable AI.

Sponsored by Data Harmony, harmonizing knowledge for a better search experience.