As cloud usage among international enterprises grows, so too does the need for cloud data and analytics. In fact, analysts predicted the cloud data and analytics industry would nearly double within the year. As a result, businesses are rapidly moving their IT needs to cloud technology and data centers. Because so many companies have jumped aboard, measuring the effect of cloud technology on revenue and productivity has become vital. Already, within the last two years, cloud data and analytics has revolutionized.
Three main factors powered the incredible surge in cloud data analytics technology and tools. These include increased demand for accurate measurement, the reduction in the cost of data storage and processing and the profound increase in the number of devices capturing data.
The Benefits of Cloud Data Analytics
Experts usually cite five main advantages when listing the benefits of cloud data analytics:
- Lowered Technology Costs. Since businesses no longer need to deploy their own IT infrastructure, they can connect to multiple data sources easily and at a lower cost.
- Data Consistency. Cloud data analytics allow a company to adopt a single, recognized set of data for analysis, so every team works from the same numbers.
- Increased Speed in Data Capturing and Analysis. Automated cloud data analysis tools give companies a single, easy to read and understand overview of their measurements. Because the report is user friendly, the metrics carry more value.
- Reduction in Cost of Report Generation and Analysis. Again, automated cloud data analysis tools take away the need to pay an entire department to create and analyze reports for the company. Instead, the automated tools do this for you.
- Increased Data Context. Data without understanding lacks value. Therefore, a benefit of cloud data analytics tools is the fact that they provide a readable context for the data they provide. These reports clearly demonstrate what the measurements mean and how they affect your company.
Cloud Data Analysis Advancements to Watch for
Industry experts have compiled a list of top cloud data analysis advancements to watch for in the upcoming years. Each of these has already started to take shape. Learn more about each of the expected advancements in cloud data analysis below.
- Reliance on Real-Time Analytics. In today’s rapidly moving business world, real-time metrics are invaluable. Analysts expected 2016 to bring continued evolution of Spark and other services that provide real-time, actionable insights and measurements.
- Update in Data Importance. Data is about to get a first class seat in the world of the cloud. What does this mean? Currently, one of the main challenges of cloud-based IT systems is the uploading of data into the system. Analysts expected that year to make data integration much easier. Teams can then refine and measure that data for analysis.
- Analytics as a Service. At the time, most companies still performed their analytics in-house. However, analysts expected the next year to make big data analytics a standard part of data center and cloud packages.
How to Choose the Right Cloud Analytics Partner
Before integrating cloud data analysis into your business, talk to an expert. Call (305) 735-8098 to speak with a Volico representative about the variety of cloud data analysis tools offered through Volico.
