Cloud computing is every bit the game changer some investors believe it to be. So says a new survey commissioned by Rackspace Hosting and conducted by Manchester Business School, which found that U.S. businesses cut total IT costs by 26% using cloud computing.
Sixty-two percent of study respondents from 1,300 U.K. and U.S. businesses agreed that cloud computing had helped them boost profits and a whopping 94% of U.S. participants said using the cloud saved them money. Importantly, 92% of start-up companies said using the cloud made it easier to set up operations, a notion widely shared among venture capitalists.
Can Rackspace take advantage of these favorable industry dynamics in spite of talk of a so-called "price war" with its closest competitor, Amazon.com ? Tim Beyers of Motley Fool Rule Breakers and Motley Fool Supernova addresses this question and more in the video below. Please watch, and then leave a comment to let us know what you think.
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The article It's Official: The Cloud Is a Game Changer originally appeared on Fool.com.
Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team and the Motley Fool Supernova Odyssey I mission. He owned shares of Rackspace Hosting at the time of publication. Check out Tim's web home and portfolio holdings or connect with him on Google+, Tumblr, or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.The Motley Fool owns shares of Amazon.com. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.
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