by Tom Taulli | October 1, 2012 11:11 am
Oracle’s (NASDAQ:ORCL) annual mega-conference, Oracle World, started last night with a keynote from the company’s CEO, Larry Ellison.
The main message? Cloud, cloud, cloud.
Funny enough, a few years ago Ellison believed cloud technology was mostly a joke. What large business would allow their data to be entrusted to a third party?
Well, now the answer seems to be “many of them.”
As a result, Ellison has been focused on building a variety of cloud-based products. Perhaps the most interesting is a cloud-based database called 12c. With it, customers will have no need for datacenters — they’ll instead be able to access their data straight from the Internet.
While 12c should tap into growth of the cloud, there is more at stake. For example, major software players like IBM (NYSE:IBM) and SAP (NYSE:SAP) also have been developing their own cost-effective data systems. Thus, Oracle really needs to find a way to protect its turf; having a cloud-based database should be a big help.
Tom Taulli runs the InvestorPlace blog IPOPlaybook, a site dedicated to the hottest news and rumors about initial public offerings. He also is the author of “All About Short Selling” and “All About Commodities.” Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.
Source URL: http://investorplace.com/2012/10/larry-ellison-oracle-world-12c-orcl/
Short URL: http://invstplc.com/1fsGF1S
Copyright ©2014 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.