Transparent Peer Review By Scholar9
Cloud Computing: A Strategy to Achieve Operational Excellence in Banking: A Descriptive Study
Abstract
21 Century is the era of digitization. Saas, Paas, Iaas, IOT, artificial intelligence, and machine learning are the talk of the town. Technology has changed human beings to be very smart and efficient. The emerging cloud computing technology facilitates corporations in achieving cost reduction and profit maximization. Especially in the banking sector, cloud computing enhances operational excellence and cutting-edge competitiveness. Cloud computing generally delivers computing services—servers, storage, databases, networking, software, analytics, and more – over the Internet (“the cloud”). Companies offering these computing services are called cloud providers and typically charge for cloud computing services based on usage, similar to how you are billed for water or electricity at home. Cloud services are delivered on demand via the Internet with pay-as-you-go pricing. Nowadays, All the banks are going digital and offering all services in digital mode; hence, IT infrastructure is essential, which involves huge costs. At the same time, quality of service and timely delivery of service are essential to achieve both objectives in a single shot. Cloud computing is the weapon. This paper analyzes how cloud computing enhances operational excellence and brings cutting-edge competitiveness to the banking sector.
Shreyas Mahimkar Reviewer
20 Sep 2024 12:18 PM
Approved
Relevance and Originality
The discussion on cloud computing in the context of the 21st century is highly relevant, especially given the ongoing digital transformation across industries. The focus on the banking sector underscores a critical area where technology can drive efficiency and competitiveness. While cloud computing is a well-established concept, analyzing its specific impact on operational excellence in banking offers an original angle that adds value to existing literature on digitalization.
Methodology
The methodology section is somewhat implied but lacks explicit details on how the analysis will be conducted. A clearer outline of the research approach—such as case studies, data analysis, or surveys—would strengthen the paper’s framework. Additionally, discussing the criteria for evaluating operational excellence and competitiveness in banks would provide a more structured basis for the analysis.
Validity & Reliability
The text presents a convincing argument regarding the benefits of cloud computing for cost reduction and service delivery in the banking sector. However, to enhance the validity of the claims, it would be beneficial to include empirical data or examples from banks that have successfully implemented cloud solutions. Information on metrics used to measure operational excellence and competitiveness would also bolster the reliability of the findings.
Clarity and Structure
The text is generally clear and effectively communicates the importance of cloud computing in banking. The structure flows logically from the introduction of cloud computing concepts to their application in the banking sector. However, breaking the content into distinct sections, such as background, methodology, analysis, and conclusions, would improve readability and help guide the reader through the arguments presented.
Result Analysis
The analysis suggests that cloud computing serves as a transformative tool for banks, enhancing both operational excellence and competitiveness. However, specific examples or case studies illustrating how cloud solutions have led to measurable improvements would strengthen the analysis. Additionally, discussing potential challenges or limitations faced by banks during cloud adoption would provide a more balanced view, enriching the discussion on its overall impact in the sector.
4o mini
IJ Publication Publisher
Done Sir
Shreyas Mahimkar Reviewer