#CyberFLASH: Why do so many Canadian businesses fear cloud computing?

137962776Many Canadian executives are confused about what cloud computing is, and are worried it’s not a safe way to store important company information, even as the technology promises competitive benefits for flexibility and cost cutting, Microsoft Canada Co. says.

According to a new study for Microsoft Canada conducted by market research firm Northstar, only 10 per cent of the 476 Canadian executives polled said they were familiar with cloud computing, and of that sliver, only 45 per cent could correctly define cloud computing.

Businesses have been bombarded with cautionary tales of data security breaches at companies such as Target, Home Depot and JPMorgan, and that’s contributing to a climate of uncertainty and trepidation around privacy.

But Microsoft says that although cybersecurity is a real threat, there is a lot of unfounded fear in the market over the risks of cloud computing.

“I would compare it to, do you feel safer putting your money in a bank versus under your mattress?” says Ms. Kennedy.

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