February 25, 2013
Cloud computing is every bit the game changer some investors believe it to be. So says a new survey commissioned by Rackspace Hosting (NYSE: RAX ) and conducted by Manchester Business School, which found that U.S. businesses cut total IT costs by 26% using cloud computing.
Sixty-two percent of study respondents from 1,300 U.K. and U.S. businesses agreed that cloud computing had helped them boost profits and a whopping 94% of U.S. participants said using the cloud saved them money. Importantly, 92% of start-up companies said using the cloud made it easier to set up operations, a notion widely shared among venture capitalists.
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