cloud data storage

I've been seeing a lot more companies saying that they are moving their data/resources to 'The Cloud'. I wonder how many executives and board members actually understand what this means? Does anyone really comprehend that this is a relocation of corporate assets to an outside resource beyond the direct span of control of the corporation?

It used to be called 'service bureaus', then outsourcing and so on. It is really an abdication of fiduciary responsibility?

I've been in the IT/Tech business for now, most of my life. I've seen so much as have we all. The thing that grinds my gears is that corporate management STILL has no real clue what IT does in the bowls of the organization. Sure they created CIO and other nicely named positions but do the senior management team REALLY comprehend the complexity and dependency of the entire corporation on the IT Staff and resources?

Sending data to The Cloud is lessening or mostly limiting the direct span of control over the very basic assets of the corporation. With all the horrendous security failures we have seen, can this data really be secured? Is it now? Doubtful for sure.

As the iron gets more sophisticated and powerful, the 'software' and sociological implications go mostly unrealized and misunderstood or not understood at all. How can we ever depend on the integrity of the data and all the resulting analysis produced, maybe, on spurious information?

What do you guys think?

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