In an age where businesses increasingly rely on cloud computing for their operations, the issue of cloud waste has become a significant concern. Cloud waste refers to the unnecessary or inefficient use of cloud resources which lead to inflated costs and decreased efficiency.
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The global pandemic put a big emphasis on the need to run a business from anywhere. Enabling employees to work remotely requires cloud solutions. This includes collaborative platforms like Google Workspace and Microsoft 365. VoIP (Voice over Internet Protocol) phone systems have also become critical.
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Cloud misconfiguration has become one of the most significant threats to cloud security. Cloud vulnerabilities have increased by 28% since last year. There was an increase in the offer of cloud accounts on the dark web of 200%. The catastrophic impact of cloud misconfiguration has made it clear that proper cloud security and configuration is of the utmost importance.
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Cloud file storage revolutionized the way we handle documents. Gone were the days of needing to email files back and forth. No more wondering which person in the office has the most recent copy of a document.
Between 2015 and 2022, the percentage of worldwide corporate data stored in the cloud doubled. It went from 30% to 60%. A majority of organizations use cloud storage of some type. Typical services include OneDrive, Google Drive, Dropbox and others.
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Stolen login credentials are a hot commodity on the Dark Web. There are prices every type of online account from banking to social media. For example, hacked social media accounts will go for between $30 to $80 each.
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Last year, the REvil cybercrime gang ruined the Independence Day Holiday for hundreds of American businesses after successfully launching a ransomware attack. The attack forced hundreds of companies to close temporarily. REvil demanded a ransom of $70 million to unlock their files.
This attack isn’t a one-off. Ransomware is a growing threat to businesses across America. Research shows that cybercriminals launch roughly 4,000 ransomware attacks per day and that number is set to increase with the rise of ransomware-as-a-service.
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It is a scary thought. The analyst firm Gartner predicts that a whopping 99% of cloud security breaches will be the customer’s fault by 2025. This means that cloud providers (like Amazon, Microsoft and Slack) are doing an excellent job at keeping their platforms secure but their clients (businesses across the globe) are failing.
Microsoft announced its brand new Windows 365 in early August. This is a cloud-based computer designed that capitalizes on the new hybrid workforce and the rise of remote teams.
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