Cloud computing is reshaping how industries think, from agriculture to wholesale trade. Few technological advancements have had that same level of impact. Companies of all sizes use these services to fuel growth, create scalable solutions, and enhance innovation. Here's a look at five industries where cloud-based services have significantly impacted in recent years.
1. Healthcare
The healthcare industry was among the first to see the benefits of working in the cloud. As patient costs rose at an alarming rate, industry leaders needed to integrate recordkeeping and streamline services to reduce them.
In 2009, the Health Information Technology for Economic and Clinical Health Act (HITECH) funded the development of electronic health records (EHR). The industry embraced cloud computing to store sensitive patient data and make it available to different providers.
The goal was to give all patient care team members access to the same information and eliminate the need for paper charts. Cloud computing allows clinicians to access patient data anywhere with an internet connection. According to the Centers for Disease Control and Prevention (CDC), by 2021, 88.2% of practices were using EHRs in the office.
Today, cloud technology also plays a significant role in telehealth services and remote monitoring. Telehealth allows patients to consult with a healthcare professional, even in rural areas where it is hard to get to an office. Patients can also send monitoring information to the practitioner, allowing them to track their health status.
Cloud platforms provide the core infrastructure necessary for research and community healthcare. They allow researchers to store and analyze large datasets, allowing them to learn more about entire populations of patients.
2. Finance
Cloud computing is heavily relied on by the financial sector. It has become an intricate part of most front—and back-office services.
In 2024, the finance industry lost an estimated 10 billion dollars to fraud. Cloud computing is on the front line of fraud detection. It allows security companies, banks, and financial institutions to analyze massive amounts of data from various sources. That lets them look for patterns and suspicious activity before problems occur.
Working in the cloud also permits this sector to cut overhead costs using pay-as-you-go pricing models for flexibility and scaling. That savings leads to less overhead and a reduction in fees customers pay.
Because cloud computing sets data privacy and security rules, it keeps banks on track regarding compliance issues, saving them penalties and fees. That savings transfers to consumers, as well.
Finally, cloud computing brought banking into people's homes. Today, most institutions offer online banking services, allowing people to cash checks and transfer funds from their homes or offices. It also streamlines the loan application and processing system.
3. Retail
Once upon a time, to buy something, you had to walk into a store or order it over the phone from a catalog. Today, cloud computing allows retail stores to offer omnichannel sales opportunities.
Cloud computing provides a seamless process for integrating online and offline inventory management, order processing, customer service, and product marketing. These platforms' flexibility also allows them to scale production. They can increase their impact during peak seasons and scale back during slow times.
The heart of a customer relationship management system (CRM) is working in the cloud. With these systems, companies can target marketing campaigns and improve their outreach at the touch of a button. Cloud platforms allow them to store customer data in one centralized location for easy and secure access.
Data analytics collects vast amounts of information to understand customers and market trends better. As a result, retail manufacturers can now make informed decisions about marketing and product development.
4. Education
The digital age has enriched the education sector and the learning process. Today, teachers and students can access online educational materials like books, teaching modules, and textbooks.
The cloud also provides teachers with better opportunities to reach students. They can upload course material remotely, and students don't have to worry about using storage on their computers when they open it.
Cloud-based digital forms have recently gained popularity, replacing many paper-heavy processes and benefitting parents, students, and teachers alike. The cloud can provide secure storage and remote access to critical forms, including authorization, class schedules, and grades. It also allows parents to return signed forms digitally to schools without risking a piece of paper getting lost in transit with a student.
The cloud lets teachers communicate with students, administrators, and other educators. It provides a place for thoughtful discussion between students, such as forums or chat rooms.
Students can go online and ask questions about assignments or let teachers know they are struggling with a subject. Working in the cloud provides a private place for teachers and students to discuss sensitive issues if necessary.
5. Legal
The legal industry works heavily with documents and files that require long-term storage. Before cloud computing, law offices, courts, and government agencies would fill floors with paper to ensure they could access critical information.
Cloud computing provides legal firms and courts with backup systems and remote information retrieval. The scalable solutions available through cloud storage allow them to expand without much effort if they need more space. Lawyers can also file critical forms online to save time and improve efficiency.
Storing documents in the cloud allows access to critical information from agency to agency. Lawyers can transmit documents to court reporters with the click of a button. Courts can pull up resources such as images and forms while in session. They can project evidence onto screens for jurors or judges to review.
Cloud-Based Services Are Here To Stay
Cloud-based services have become integral to various industries, revolutionizing how they operate and deliver value. From healthcare to retail, cloud computing has driven innovation, enhanced efficiency, and improved customer experiences. The cloud has empowered organizations to remain agile as technology changes by enabling seamless data access, fostering collaboration, and providing scalable solutions. As more industries continue to embrace cloud technology, it is clear that its impact will only grow, providing new opportunities for growth, cost savings, and innovation across the globe.
