Corporate technology leaders looking to cut costs are turning to industry-specific cloud platforms that provide purpose-built digital tools for companies in a given industry.
Most industry-specific clouds began to hit the market last year, sparked in part by demand for better healthcare data systems during the pandemic. Designed to more easily integrate specialized end-to-end business data, industry clouds promise efficiencies with services delivered in ways that align with common industry data collection and analysis. They are especially useful for financial-services firms in areas like regulatory compliance, or healthcare providers sharing secure lab results and diagnosis and treatment data across different departments.
"Technology built for industries generally is better than one-size fits all," says Oracle Executive Vice President Mike Sicilia. "What a major pharmaceutical company needs to bring new treatments to market isn't the same as what a telco needs to deliver text messages — or what a restaurant needs to shift to a hybrid takeout, dine-in model."
From The Wall Street Journal
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