Risk in The Cloud

As previously reported, a great many new supply chain developments are being announced at Oracle OpenWorld...particularly in regard to The Cloud.

Also of interest is a recent report, conducted by the Economist Intelligence Unit (EIU) on behalf of Oracle, that concludes that technology exists today to secure digital access and identity issues and help companies monetize their data assets responsibly.

However, companies still struggle to come to terms with the right approach to collecting and securing this data.

By 2020, more than 7 billion inhabitants of Earth will be using over 35 billion devices to communicate, collaborate, negotiate and perform transactions; there are approximately 8.7 billion connected devices today.

The surge will come quickly and organizations will scramble to take advantage of monetizing this digitally connected world, conclude researchers.

Identities are at the forefront as the digital passport to an online world of goods and services because a single view of an individual customer is the key to knowing that person better and building a deeper personal and business relationship with them.

But risk is addressed extensively in the report as well.

The EIU survey shows that companies are well aware of the responsibilities of holding digital identities and are taking them seriously. When asked to identify their company’s top three digital-identity challenges, security is cited by almost three-quarters (72%) of respondents, followed by privacy (44%) and managing legal or regulatory requirements (36%).

It’s something of a relief, though, to know Oracle and its partners are addressing these concerns.