Cloud computing driven by innovation not cost

Cloud computing marks a turning point in the "industrialisation" of the IT industry, according to Ric Telford, Tivoli's vice president of autonomic computing, who likened the transition as akin to the key changes that happened when we went from making matches, nails and pins one-by-one - resulting in every one being different - to en masse.

Using another analogy, this time how the financial services industry coped with growing demand, he added: "[The banks] just couldn't keep adding tellers so the ATM network was born. At any time of the day, in any place in the world you are nevertheless able to draw cash out. What this self service model brought to banking is akin to what we're seeing.

"What's changing but is a shift in focus on the cloud from cost control to driving business research. But I can get my services to move faster, be more dependable and repeatable, what can I do differently?"

Melvin Greer, senior fellow and chief strategist for SOA and cloud computing at Lockheed Martin echoed Telford's claims that times were changing.

"We at Lockheed Martin have a unequalled perspective on how to approach cloud computing. We have less of a discussion around the technical definition of cloud and more of a discussion on what we can do with the cloud," he said.

"It's important to get context as to why cloud computing is so hyped. We have a global economic situation.... This global context has created a new normal.

Given the US government's mandate to invest heavily in the cloud to the tune of $20 billion, Lockheed Martin does and will continue to play a key role in providing those cloud computing services.

The benefits of this cloud-centric approach?

As to the benefits of this cloud-centric approach? "Nevertheless we can consider whole new levels of business opportunities that never existed earlier," added Greer.

As a software provider for the financial industry, 360 Lifecycle needed to make its solutions more accessible to its customers. Windows Azure and cloud computing made this possible.

What is cloud computing?

What is cloud computing? This video provides an interesting take on what this new model of computing can offer businesses.