Flexibility in strategy has now been realised as critical to enterprises wishing to maintain the competitive edge in increasingly saturated and challenging industries.
From navigating unexpected issues to optimising strategies to maximise effectiveness – the importance of enabling an agile, data-driven approach to businesses is crucial, with a mistake potentially damaging reputation, audience, and market position.
One such tool which can aid enterprises in adopting a flexible, streamlined, and accessible approach to strategy and key decision-making is Cloud analytics. With a wealth of benefits, the Cloud offers an innovative variation to traditional data analytics, allowing enterprises to enable critical business decisions with ease.
Understanding the essentials of Cloud analytics
Taking advantage of the benefits of cloud computing, Cloud analytics removes the restriction of on-premises data storage and traditional analysis by offering potentially unlimited cloud storage available through any network.
With optimised scalability, all datasets are stored securely before Cloud systems employ analytic models and algorithms to process and examine information to uncover strategic insights.
While the offering and user interface of Cloud analytics tools can differ from enterprise to enterprise, all Cloud analytics software features distinct components, such as:
- The various data sources which are ingested and processed within the Cloud analytics tools. These may include CRM and CMS data, as well as other analytics sources covering social media performance and website usage, for example.
- The single or multiple data models involved. These data models aid in ensuring that data is consistent and standardised throughout the retrieval and analysis process. These data models can range in complexity and can involve a range of triggers and dimensions in structure.
- The various processing applications used to digest, collate, and analyse vast datasets currently residing in Data Warehouses. In utilising various processing applications, the time required for aggregation and more is reduced, allowing for a more flexible and on-demand approach to analytics, regardless of the size of information.
Exploring the advantages of Cloud analytics
By shifting to a Cloud-based approach to analysis, enterprises of any size can expect to encounter a wide range of benefits to support their Business Intelligence goals and strategies.
One of the most visible and prominent features of Cloud storage and analytics platforms is scalability. As the datasets of enterprises continue to grow and increase exponentially – reaching millions of rows of data with ease – a scale now being referred to as ‘Big Data,’ Cloud platform. With this emphasis on scalability, enterprises are assured that their datasets can always be catered for, without having to invest in physical data storage solutions that are expensive and limited by physical space.
Other advantages of Cloud analytics include:
With faster access to data, and unrestricted by on-prem architecture and processing capacity, Cloud analytics ensures that data workers and internal teams can access critical insights at a scale that supports a potential on-demand approach.
In landscapes that are constantly shifting and evolving, this speed-to-insight enables teams to make strategic decisions rapidly, reinforced with reliable and trusted data. This ensures that strategies reflect the very latest customer attitudes and behaviour, while marketing campaigns are optimised based on the very latest events to avoid damaging messaging or reception.
Intuitive governance processes
Well-structured and streamlined Cloud analytics tools must group and pull datasets from a variety of sources into a format accessible by teams as well as reachable for various algorithms and models.
With seamless integration and hosting, teams from many different departments of a business can easily access data in a visible and clear format, reducing the possibilities of data silos being created due to confusion and miscommunication over versions and results of data.
Not being bound by a physical location unlike traditional on-premises data storage, Cloud analytics allow teams to process and gain valuable results from collected and processed data regardless of their physical location, needing only a network-enabled device to reach the critical results needed.
This is immensely beneficial for teams needing to reach the very latest results in an ever-changing, turbulent market landscape, as well as ensuring that teams are always able to place trust in not only the results gained, but the strategy deployed, through acknowledgement that decisions are based on the very latest, high-quality data available.
For many enterprises still using an on-premises approach to data storage, one of the core factors preventing their adoption of the Cloud is a concern over security. However, with innovations in Cloud security constantly evolving,
With data encryption, multi-factor authentication, and even biometric authentication becoming more integrated with Cloud security, data hosted on the Cloud is now more secure than ever before, as well as not being affected by other risks such as fires, physical theft or interaction.
What must businesses consider before beginning their Cloud analytics journey?
Every enterprise possesses different requirements, goals, and metrics. When considering which Cloud analytics platform to incorporate, enterprises must assess a range of factors to ensure that they incorporate the correct service.
When considering a Cloud analytics software, enterprises must ensure that their current volume of data will be supported in a cost-effective and easily manageable format, while also ensuring that the software is accessible based on the current skill level and expertise of data workers.
Those unable to access the platform correctly may introduce some unreliability and instability to results, which can lead to harmful consequences. Enterprises should also consider the form of SLA to which they will be adhering to, as in some circumstances these may pose restrictions on time of access, volume, and available support.
Ensuring access to strategic insights with ease
As market-leading business Intelligence consultants, we’re committed to empowering enterprises in reaching actionable, trusted intelligence using the full potential of their data.