Here’s how cloud computing will drive the future of data analytics, CIO News, ET CIO
In our daily life, the number of devices connected via IoT is increasing rapidly. Businesses today rely heavily on cloud data analytics to meet the challenge of keeping up with today’s pace of data generation, use, and storage. Cloud data analytics is an effective solution for making better business decisions by following data patterns and eliminating the need for assumptions. According to a recent study by Statista, by 2030 around 50 million IoT-connected devices will be in use worldwide, generating huge volumes of data. The majority of this data will be stored and analyzed in the cloud.
The cloud provides access to various services such as servers, data analytics, AI, etc. Cloud data analysis helps attract new customers and recognize data patterns that allow businesses to better serve their existing customers, making the whole process profitable.
Cloud Computing and the rendezvous with data analysis
Previously, data was stored on local servers. To perform the data analysis, the engineers had to transfer the data from the central servers to their systems each time. This legacy mode of operation was time consuming because it involved collecting and separating huge chunks of data. Apart from that, managing these on-premises servers can be quite costly as they require continuous maintenance and backups to avoid data loss.
Cloud computing has come as a lifeline to help organizations deal with the hassles of physical servers.
Cloud computing consists of a collection of hardware and software that can be accessed remotely through any web browser. It allows you to access data from any web browser instead of being limited to a particular hard drive. When you apply the analytics principle to cloud drive data, it is called cloud-based analytics.
Cloud Analytics stores, processes and analyzes business data using cloud technologies. A hybrid cloud analytics model, used by some organizations, allows certain functions to be performed only in cloud-hosted environments, while others are performed on on-premises servers. However, most organizations migrate entirely to the cloud when they decide to upgrade their analytics program.
Cloud analytics offers increased productivity and profitability, increasing the popularity of the cloud among today’s businesses, especially those in the growth phase.
The Cloud eliminates the need for the organization to manage its traffic as it comes with an out-of-the-box infrastructure. It allows organizations to make changes by increasing or decreasing cloud storage as the business scales up or down. This makes it more suitable as it reduces the cost of installing new hardware and allows companies to respond quickly to market demands ensuring that they satisfy their customers by meeting their requirements on time.
Simply put, cloud analytics gives way to a more flexible budget compared to in-house analytics solutions by eliminating the need for hardware, equipment, data centers, or regular upgrades. More and more organizations are now benefiting from better data quality by combining data analytics with machine learning technologies. They are investing heavily in developing cloud capabilities in order to derive maximum benefit from it. With the right approach to cloud and data by skilled cloud professionals, the cloud can play an important role in improving the performance of organizations and providing better insights through detailed data analytics.
Create value with the Cloud
Here are the top benefits that organizations have found useful by adopting the cloud for data analytics and machine learning:
Follow better information
Cloud analysis allows data to be recorded and processed simultaneously, regardless of the location of local servers. It allows businesses to track crucial information such as sales of an item from a specific location, helping them adjust their productions accordingly. Collecting and analyzing data helps to understand customer behavior. The cloud thus provides businesses with the right information to make better decisions and operate more efficiently.
Scaling analytics becomes easier with the cloud because it allows businesses to add storage as organizations change. Having data analytics in place synced to the cloud allows organizations to be more responsive to new business demands and adapt quickly to meet customer demands and make the most of opportunities as they arise. open.
Dealing with activities on different social media platforms is not an easy task. With cloud storage, however, data from social media sites can be analyzed simultaneously, allowing for faster quantification of results and a more targeted approach. The time taken to analyze the information collected from different platforms becomes easier when integrated with the Cloud, which can illuminate areas of improvement for the business to thrive and know the performance of the business on each platform in real-time detail. time.
Governance & Security:
The cloud offers superior control and security to its users. More than 50% of companies prefer to store their confidential data in the cloud. The main reason being that the data stored in the Cloud is encrypted, thus preventing access to hackers. Data analytics through the cloud provides better auditing capabilities, gives better control over access, and acts as a single source of truth in understanding an organization’s data. Cloud storage of analytics therefore becomes useful also in case of emergency or other natural disasters, as the data is well protected.
Collaboration and easy access:
With cloud analytics, different people can work together through file sharing apps. This collaboration proves beneficial, especially for global organizations whose employees operate in different regions. Changes are visible in real time, reducing turnaround times between teams and facilitating collaboration.
One of the advantages of cloud computing services is that they do not require hardware, data centers or equipment, which makes them very cost effective. Organizations can easily scale up or down their cloud server usage and pay based on changes in ML or data science workloads. The cloud allows the organization to follow a subscription-based model that allows businesses to have more flexible budget planning based on demands.
Considering all the features of the cloud along with the potential risks that come with it, organizations are increasingly choosing the cloud for its many benefits, with data being one of the most important deciding factors. The goal is to ensure that data can be successfully processed and analyzed faster with the help of cloud experts.
The enormous possibilities of the cloud combined with the factors of security, reliability and affordability predict an expansion of the use of data analytics in the cloud. For a business to achieve peak performance, cloud insights and the data delivered through it will become more critical than ever. The cloud is now presented as a necessity rather than a luxury for businesses to thrive.
The author is the founder and CEO of Rapyder Cloud Solutions
Disclaimer: The opinions expressed are those of the author alone and ETCIO.com does not necessarily endorse them. ETCIO.com will not be responsible for any damage caused to any person/organization directly or indirectly.