It's Oracle's modus operandi to be bullish about its prospects in a market once it's made the decision to go all-in, said Chris Kanaracus, managing editor and principal analyst at Constellation Research, in an email.
"The question, as with anything, is about the execution and how Oracle can show value to customers for its one-stop-shop approach" encompassing software, platform and infrastructure-as-a-service, Kanaracus said.
Although Oracle takes pains to emphasize the open-standards underpinnings of its cloud technology, it will have to overcome the perception that customers buying into its full stack could be locked in, he pointed out.
Also worth noting on the IaaS front is competition from Amazon Web Services.
GE CIO Jim Fowler joined Hurd on-stage at OpenWorld, and "that's quite the coup," Kanaracus noted. "But what went unmentioned was Fowler's appearance a few weeks ago at Amazon Web Services' re:Invent conference."
In fact, GE is moving the vast majority of its application workloads to AWS, Kanaracus said. That's "a huge endorsement of AWS, to say the least, and goes to show that customers have mature and viable choices in the market besides Oracle."
Oracle was "slow to get cloud religion, but now it’s preaching with all the zeal of a new convert," said Frank Scavo, president of Computer Economics, in an email.
It remains to be seen whether new cloud subscriptions will be enough to offset the expected declines in traditional license sales, but "Oracle has tremendous financial resources and domain knowledge to apply to the challenge," he added. "It would be foolish to ever count Oracle out."
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