Cloud Computing

Definition

Cloud computing refers to the delivery of computing services—including storage, processing power, and applications—over the internet ('the cloud') rather than using local servers or personal devices. This technology allows businesses and individuals to access resources on demand, promoting flexibility, efficiency, and cost savings while enabling seamless digital reporting and interactive formats.

5 Must Know Facts For Your Next Test

1. Cloud computing enhances digital reporting by enabling real-time data sharing and collaboration across teams regardless of location.
2. Interactive formats in cloud computing allow for more engaging presentations of data through features like dashboards and visual analytics.
3. By leveraging cloud services, organizations can scale their computing resources up or down based on demand, making it easier to manage fluctuations in data reporting needs.
4. Cloud platforms often offer advanced security measures, ensuring that sensitive corporate sustainability data is protected while being easily accessible for reporting purposes.
5. Many cloud providers offer integrated tools specifically designed for sustainability reporting, helping companies to automate data collection and analysis.

Review Questions

• How does cloud computing facilitate enhanced digital reporting capabilities for organizations?
  • Cloud computing facilitates enhanced digital reporting by providing access to real-time data and enabling collaboration among team members from different locations. By storing data in the cloud, organizations can pull in various data sources to create comprehensive reports that are updated automatically. This immediate access to current information helps stakeholders make informed decisions quickly and effectively.
• Evaluate how interactive formats supported by cloud computing can improve stakeholder engagement in corporate sustainability initiatives.
  • Interactive formats supported by cloud computing enhance stakeholder engagement by allowing companies to present sustainability data in more dynamic and visually appealing ways. Features such as dashboards and visual analytics enable users to interact with the data, exploring trends and insights that are more engaging than static reports. This interactivity fosters a deeper understanding of sustainability efforts among stakeholders and encourages more informed discussions around corporate responsibility.
• Synthesize the advantages of using cloud computing for corporate sustainability reporting, focusing on flexibility and data management.
  • The advantages of using cloud computing for corporate sustainability reporting include significant flexibility and streamlined data management. Organizations can scale their resources according to their specific reporting needs, which is crucial during peak reporting periods or when integrating new data sources. Moreover, cloud-based tools often come with advanced features for automating data collection and analysis, helping organizations maintain accuracy and efficiency in their sustainability metrics while ensuring compliance with evolving reporting standards.

Related terms

Software as a Service (SaaS): A cloud computing model that delivers software applications over the internet, allowing users to access them without installing or maintaining them locally.

Infrastructure as a Service (IaaS): A cloud computing service model that provides virtualized computing resources over the internet, enabling users to rent IT infrastructure like servers and storage.

Data Center: A physical facility that organizations use to house critical applications and data, often providing the infrastructure necessary for cloud computing services.