Which two benefits are associated with server virtualization?

Server virtualization offers several significant benefits, one of which is the efficient application of software updates. When servers are virtualized, multiple operating systems and applications can run on a single physical machine, allowing for streamlined management. This environment makes it easier to perform updates because changes can be tested on virtual instances without affecting the entire physical server's functionality. Furthermore, virtualization technology often includes management tools that automate many aspects of maintenance and updates, thereby reducing downtime and the complexity associated with updating software across multiple servers.

The other options may have some relevance to server management or cloud environments but do not directly pertain to the primary advantages provided through virtualization itself. Centralized data storage typically relates more broadly to cloud services rather than the direct advantages of virtualization. Faster network access can be influenced by networking technologies but is not inherent to the concept of server virtualization. Similarly, while cheaper software licensing may be a consideration in some scenarios, it is not a universal benefit tied directly to server virtualization practices. The focus on streamlined and efficient updates is a core component of the virtualization efficiency narrative.