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Impact of Technology Innovation: A Study on Cloud Risk Mitigation
Abstract
Cloud enables computing as a utility by offering convenient, on-demand network access to a centralized pool of configurable computing resources that can be rapidly deployed with great efficiency and minimal management overhead. In order to realize the benefits of the innovative cloud computing paradigm, companies must overcome heightened risks and security threats associated with it. Security and privacy in cloud is complex owing to newer dimensions in problem scope such as multi-tenant architectures and shared infrastructure, elasticity, measured services, viability etc. In this paper, we survey existing literature on cloud security issues and risks which then guides us to provide a section on auditing based to address the identified risks. We also provide a discourse on risk assessment frameworks to highlight benefits using such structured methods for understanding risks. The main contribution of the paper is investigation of current innovations in cloud computing that are targeted towards assisting in effective management of aforementioned risks and security issues. The compilation of discussed solutions has been developed to cater to specific cloud security, compliance and privacy requirements across industries by cloud service providers, software-as-a-service (SaaS) application vendors and advisory firms.
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