Oracle Openworld 2014

This week, 60,000 people have descended on San Francisco to hear Oracle’s latest news, which most certainly revolves around the cloud.

During Monday’s keynote, Oracle's replacement CEO, Mark Hurd, said the cloud is exploding in front of our eyes, while consumers are becoming more sophisticated.

He said IT organisations need to change how they work to enable employees and customers. “They will want to work the way they want to work, and buy the way they want to buy,” he said.

But the challenge for CEOs and IT departments is their budgets are stagnant or, in some cases, going down, he added.