Amazon Web Services
What is AWS?
Amazon Web Services (AWS) is one of
the biggest secure on-demand cloud service platforms, which offers database
storage, networking, server, and other functional services to help business
scale and grow (Amazon, 2018). In 2006, Amazon began offering IT infrastructure
services to businesses in the form of web services now commonly known as cloud
computing. AWS provides a highly reliable, scalable, low-cost infrastructure
platform in the cloud that powers hundred of thousands of businesses in 190
countries around the world (Amazon, 2018). Using AWS cloud computing allows organizations to rent server capacity,
which reduces the enormous cost of investing in hardware and software
(Gallaugher, 2017). One of the main benefits of AWS is that it reduces costs of
maintain own servers and provided by a trusted vendor.
Security and
reliability
Since data storage and data security are so
important businesses, when switching to a cloud provider or service storage
provider, it makes sense that security would be a highly-sought after feature
and AWS security is robust enough for most businesses (Chrisos, 2018). AWS has
strong safeguards to protect customer privacy and network firewalls
built into Amazon VPC and web application firewall capabilities in AWS WAF, let
you create private networks, and control access to your instances and
applications (Amazon, 2018).
Advantages
Amazon has many advantages over its
competitors because they started their cloud computing service faster than
Microsoft and Google. An
early lead with a market-serving product creates a big share, customer lock-in,
internal learning, and a network effect derived from complementary offerings
ranging from the employment base provided by a growing number of AWS-skilled
developers to a rich assortment of software capable of using the platform (Gallaugher,
2017).
AWS with IVK
Since IVK is a financial services firm that
provides loans to people and businesses. AWS would be extremely relevant and
useful to the IVK by automating and strengthening security, quickening
go-to-market speeds, improving customer experiences with the IVK’s platforms
and web services, and lowering costs. Projected IT budget fiscal year X cost
about $16,392,717 dollars, which is very high when compared with the product
that the IVK received (Austin). Additionally, IVK should pay for their services
how much they used per month in order to cut the infrastructure costs. Taking
advantage of AWS’s security and loan compliance would be much cheaper than
trying to develop their own security system and spending money on expensive
hardware and labor costs. (Gallaugher, 2017). IVK will be able to optimize and
innovate their business through deepening customer relationships and improving
their customer risk profiles. (Amazon, 2018). Furthermore, it would be very
useful for IVK to use the already built-in, audit-friendly service features,
and other compliance standards. (PYMNTS, 2018) By moving to the cloud with AWS,
IVK can reinvent themselves and their financial services loan industry.
References:
John Gallaugher. (2017). Information Systems: A Manager’s
Guide to Harnessing Technology. Boston, MA: FlatWorld
Amazon Web Services. (2018). AWS | Financial Services on
Amazon Web Services. Retrieved September 18, 2018, from
https://aws.amazon.com/financial-services/?nc2=h_m2
Amazon Web Services. (2018). AWS | AWS Global
Infrastructure. Retrieved September 21, 2018, from
https://aws.amazon.com/about-aws/global-infrastructure/?nc2=h_ql_le
Qumulo. (n.d.). AWS File Storage [Digital image]. Retrieved
September 18, 2018, from
https://qumulo.com/wp-content/uploads/2018/07/prod-art-aws-600.width-1200.png
CNBC. (2018, April 26). AWS Earnings Q1 [Digital image].
Retrieved September 18, 2018, from
https://www.cnbc.com/2018/04/26/aws-earnings-q1-2018.html
PYMNTS. (2018, May 25). How Financial Services Firms Use
Amazon's Cloud. Retrieved September18, 2018, from
https://www.pymnts.com/amazon/2018/cloud-financial-services-aws-regulation-fico/
Dell blogs: Home. (n.d.). Retrieved from
https://blog.dell.com/en-us/
Biddick, M. (2008). Time to Think About Cloud Computing.
Retrieved from
https://www.informationweek.com/cloud/software-as-a-service/time-to-think-about-cloud-computing/d/d-id/1073198
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