fractional

Fractional Ownership
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Cloud computing is a way of computing whereby computing resources are relied on instead of handling applications using personal devices or local servers. These services are delivered over the internet and the cloud customers pay for them. The payment is done through pay-per-use or on an as-needed business model. Cloud computing was brought up so as to connect people and so that its users can also access data anywhere and at any time. An example of cloud computing includes Google’s Gmail. However, it has some benefits such as reduced IT cost, scalability, business continuity, flexibility of work practices, access to automatic updates and collaboration efficiency among others. Types of cloud computing include IaaS (Infrastructure-as-a-Service), PaaS (Platform-as-a-Service) and SaaS (Software-as-a-Service) (Velte & Velte, 2019).
For example, cloud computing is used in the aviation sector whereby there is fractional aircraft ownership for businesses and individuals who have interest in the co-ownership of jets. Owners usually gain all the time, access and convenience benefits of owning aircraft through Net Jets Aircraft Fractional Ownership. However, with a fraction of cost and with no responsibilities. The Net jets usually perform some tasks such as managing pilots, maintaining the planes and ensuring safety among others. In addition, these operations are done from their strategically located centers. This has also set standards for the industry. Values can similarly be recognized by placing all the organization’s accounting, tax and other applications in the cloud under a fractional ownership type model. Hence, the accounting software, tax software and Microsoft office are placed into the cloud, together with the firm’s applications and data. Other applications that can be placed here include billing and payroll.
After that process, the firm uses the buying power of a large information technology service provider. Data management and physical infrastructure costs are usually done at client level, whereby they are spread across the clients. In fractional ownership, one’s practice pays a part of the price in physical data infrastructure together with a part of maintenance fee and an annual management. This practice then uses and owns a part of the needed data environments. In addition, the firms are capable of getting some services such as automatic software updates, enhanced security to their personal information, the businesses will also be able to have access to superior disaster recovery and backup services, mobility, lowering maintenance costs and lowering server setup costs among others. Fractional ownership offers benefits of the technology that goes in hand with cloud computing. Although there are certain fees in fractional ownership situation, there are lower compared to having to pay for storage and maintenance in a similar environment (Ibrahim, Jalab & Gani, 2016)
Cloud computing software is increasingly being implemented by the fractional owners in order to efficiently share data and share it quickly. Through cloud computing the owners will be able to access information about the firm on one platform, anywhere and at any time that they want to. They also have an advantage of accessing data with any device. There will also be use of internet-based applications instead of having the software run in their PCs. This will promote innovation in organizations. Fractional owners will be able to bring up new ideas and have increased profits (Pan & McElhannon, 2017).

Reference
Ibrahim, R. W., Jalab, H. A., & Gani, A. (2016). Cloud entropy management system involving a fractional power. Entropy, 18(1), 14.
Pan, J., & McElhannon, J. (2017). Future edge cloud and edge computing for internet of things applications. IEEE Internet of Things Journal, 5(1), 439-449.
Velte, A. T., & Velte, T. J. (2019). Cloud computing: a practical approach. McGraw-Hill.

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