Cloud storage vs local storage: What is the right for your business?

Over the past five years, cloud technology has become very popular because it allows organizations and individuals to access software and hardware managed by a service provider on-demand. Cloud storage certainly offers benefits to many businesses; nevertheless, some organizations are finding that local storage is a more effective solution.
To start with, we should be clear about the differences between these two types of services. Cloud storage is the process of storing digital data in an online space that has multiple servers and locations, and it is usually maintained by a hosting company. Local storage is the process of storing digital data on physical storage devices, such as hard disc drives (HDDs), solid state drives (SSDs), or external storage devices.
Cloud services are popular because enable many businesses to access to application software without the need for investing in computer software and hardware. Other benefits include scalability, reliability, and efficiency. All these advantages allow organizations to focus on other relevant aspects such as product development and innovation.