Relying on cloud computing strategies to free up dollars and time that can quickly be re-invested in product and service innovation emerged as the highest priority for respondents in a recent Rackspace survey.

While cost reductions were significant, the greatest contributions were seen in investments in innovation (48%), new product & service development (45%), and boosting sale efforts (38%).

Rackspace recently commissioned a study with market research firm Vanson Bourne, who surveyed 1,300 organizations in the UK and the U.S., including 1,000 Small & Medium Enterprises (SME) and 300 enterprises with 1,000 employees or more.  The methodology included coverage of Financial Services, Retail, IT/Technology, Manufacturing, Business and Professional Services, Media, Logistics, and Mobile Telecommunications sectors, with a further small representative group from other sectors. 

Rackspace also partners often with the Manchester Business School to complete qualitative research, which they also did on this project.  You can find …