If you think about how much data plays a role in your daily life, whether you’re on your phone or working on a report, imagine how dependent you really are when it comes to virtual data. As we become more and more digitalized as a society, it doesn’t come as much of a surprise that markets are closely following suit in the virtualization of our daily processes.
So when Deutsche Börse Group, one of the world’s leading service providers, recently announced it will launch the world’s first neutral trading marketplace for cloud computing, I was intrigued. Who would have predicted cloud computing would be recognized as a commodity?
It’s interesting to follow this trading venue not only because it’s new, but because it’s fairly distinct from the existing commodity markets we’re familiar with today. In partnership with Berlin-based cloud management software company, Zimory, the Deutsche Borse Cloud Exchange AG trade exchange are planning a joint venture to create a secure and transparent trading venue for outsourced storage and computing capacity, also known as cloud computing resources.
So what exactly is cloud computing? In a nutshell, it allows individuals to store and share data in real-time through the internet. Data is managed by a third party and stored on virtual servers which are all interconnected between users to form a data ‘cloud.’
Cloud computing has garnered a lot of attention in the past few years as it continues to experience growth and success. Working with ZE PowerGroup Inc – an enterprise data management company, which provides a software solution for organizations working in Energy, Commodities and Financial markets – has shown me how much time and effort we spend on data collection and usage.
Cloud computing is proven to increase efficiency and innovation within business processes according to recent studies. ZE is one of many forward-thinking companies out there expanding our product offering to include cloud solutions. Cloud vendors are experiencing high growth rates at 90% per annum (FSN), in my opinion another indicator that may have propelled the launch of a new commodity market: the cloud exchange.
With trading to commence in early 2014, expected participants in the new cloud exchange include companies, public sector agencies and organizations such as research institutes that need additional storage and computing resources; as well as organizations with excess capacity they want to offer on the market. In cooperation with potential marketplace participants and related parties, Deutsche Börse will set and monitor standards for all product offerings.
My only concern with the new cloud exchange is the standardization of a neutral trading process between all parties, as well as the security and ownership of data. As the first commodity market of its kind, it will be interesting to see how the cloud exchange will develop and how cloud computing vendors will sustain its growth and success.
When it comes to data analysis and management, the ZEMA Suite is an intelligent suite of products used for data aggregation that adapts with different formats, timings, frequencies, standards, and units of inputs – an end-to-end enterprise data management solution for commodity markets.