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October 18, 2021

5 Ways in Which The Cloud Is Making Enterprise Data Analytics More Powerful

Data was and is still one of the most formidable assets for any business enterprise. By adopting powerful data analytics tools and techniques, it lays the foundation of data-driven operational models and decision-making that has proven to be more efficient, accurate, and cost-effective.

Data analytics is also the foundation of advanced intelligence capabilities that most enterprises seek to explore today with AI and machine learning being applied to accelerate intelligent automation.

However, in its earlier days, data analytics remained largely relevant in bigger corporations with deeper pockets and powerful computing infrastructure. Only they were able to garner enough resources to build powerful analytical systems that drove transformative enterprise-wide decision-making. That changed when cloud computing came into the picture.

Today, cloud computing empowers businesses of all sizes to run their analytical workloads with ease and realize more ROI from their data initiatives. In fact, studies estimate that the global cloud analytics market size will be worth nearly USD 65.4 billion by 2025. But it is not just cost efficiency and affordability that cloud computing brings to the fore in data analytics. It has made enterprise data analytics more powerful than ever before. Let’s see 5 ways how:

Unlimited Resource Scalability

It’s often true of enterprise analytics that success drives an acceleration in analytics adoption. Business stakeholders become open to newer use-cases, wider scope, and deeper application. But analytics is one of the most data-intensive domains within the enterprise technology ecosystem. From storage to computing power and geographical customization, there are multiple facets of resource utilization that need scaling up constantly to meet business expectations of growth. Cloud computing makes it easier for enterprises to scale their analytical infrastructure on-demand and with a variety of choices like private or public or even hybrid models of deployment. Enterprises do not have to break the bank as the cloud facilitates seamless scalability and availability of computing resources on demand.

Democratized Innovation

A cloud ecosystem enables multiple departments and data generation points within an enterprise to connect and collaborate with a single source of truth in real-time. It becomes easier for business users across functions, geographies, and touchpoints to access the data insights and the solution ecosystem. Add to this, the ability of the cloud to offer high-performance servers, customizable databases, and computing environments to speed up processing. It offers unparalleled file sharing, secure file exchange, and configuration frameworks that allow even employees working remotely to confidentially leverage analytical insights without having to move data credentials into their local system. That makes analytics faster as well as more secure.

Faster, More Accessible, and Safer Analytics

An indirect consequence of cloud computing making data analytics universally accessible is the increased focus on ideating and developing innovative analytics-led systems that cater to more unique or personalized business scenarios. With more business users coming into the picture, analytical systems have a larger pool of diverse data elements that can be studied and processed to create new predictive and operational models. Innovative services build on cloud analytical capabilities may be initially seen as a curiosity or a differentiating factor for the organization that launched it first. As the cloud improves access and promotes scale, the technology often finds its way into the larger enterprise data analytics ecosystem and ultimately helps in achieving wider collective results with greater positive impact.

Commoditizing Database Technology

One of the key challenges faced by traditional enterprises in maturing their digital innovations was the lack of adaptability of their underlying database technologies. Database complexities often made it harder to get leaders to submit to experiments with new real-time digital services. There was a very real fear of the problems hidden in integrations between new technology solutions and legacy systems and databases. Interoperability was seen as an unachievable ideal. With the advent of cloud infrastructure, however, database technology became more versatile. From storage to schemas and even custom services, cloud computing has transformed the database into a commodity that multiple providers are able to offer to potential customers in custom configurations and flexible frameworks for integration with new real-time transactional applications. One of the best examples is the development of graph search technology that leverages dedicated graph databases to power seamless search experiences like the ones used in Facebook.

Diversification of Analytical Applications

The real value of analytics is realized when data scientists can quickly model and enable the conversion of insights into actions in multiple business scenarios. With the data workloads moving into the cloud, application development becomes more independent of the enterprise technology infrastructure and offers more flexible integration options. Thus, enterprises can leverage multiple analytical capabilities such as sales and marketing analytics, financial analytics, performance analytics, etc. to name a few. The cloud also contains rich and powerful solution sets for each of these areas that the growing business can use. The analytics solution can integrate better with these powerful enterprise tools due to their shared heritage. This is an easy path to achieve digital transformation in an organic way.

As the digital economy advances, enterprises cannot afford to be slow or inflexible. The fact is their competitors are already looking at every opportunity to turn customer data into tools that engage them better. Hence it has never been more important to have a data-driven decision-making framework powered by analytics within the business. The cloud makes building this analytical infrastructure simpler and far more powerful as illustrated above. Get in touch with us to learn more about how the cloud can power your business’s enterprise analytical aspirations seamlessly. 

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