Oracle's success with "Cloud" it's spin means that many Large Corporations and Enterprises still are not confident in real cloud offerings.
I am sure there several reasons that could be listed.
The main reason is that once committed to a "Cloud" implementation, there will be no tolerance for the kind of outages that many "free" cloud customers put up with on Live.com, Google or Facebook.
Consider the firms we are talking about here, BANKS, national and international corporations, like UPS, Utilities companies like PG&E. Who really thinks that these Enterprise-level corporations are going to commit to true "Cloud" infrastructure. I am sure on some level it makes sense, but key production systems will remain tightly controlled, locked-up, in-house operations.
For now, Oracle is betting that at the Enterprise-level, CTO's and CFO's just are not ready to commit to having all their resources on true "Cloud" implementations, even if that means some higher expenses. Oracle bets that they can add enough value to their offerings to warrant the extra cost.
For now that bet may payoff, until "Cloud" offerings can guarantee 100% up-time, and scale up to what Enterprise-level Corporations need.
Cloud Computing for now remains a Medium to Small business option. There is where all the growth for "Cloud" computing really is.
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