Incorporating cloud based analytics simplifies the journey from unstructured data to actionable insights, enabling more accurate decision-making at each level and stage.
Data is the most crucial element in business decision-making and its value is only increasing with rapid digitization. The speed and quality of data collected and processed to find meaningful insights are key determinants of an organization’s success. With over 95% of businesses struggling with processing unstructured data, they need a robust and reliable data analytics system. Incorporating cloud-based analytics simplifies the journey from unstructured data to actionable insights and gives organizations excellent data to work on.
Using these insights, organizations can streamline workflows, and optimize business processes and marketing strategies. These are the core factors in staying one step ahead of the competition at all times.
Moving your analytics and BI system from physical servers to the cloud is the way to be future-ready. Cloud analytics provides all the benefits of legacy BI systems with many additional features. Read along to learn more about:
- What is cloud analytics?
- What are the types of cloud analytics?
- Why your business needs cloud-based analytics?
Types of Cloud Based Analytics
Simply put, cloud analytics platforms use an enterprise-level analytics algorithm to drive meaningful insights from unstructured data stored in your cloud infrastructure.
For most organizations, the cloud works as the central data hub where information from various sources or nodes is stored at one secure location. A cloud analytics solution extracts this data to generate insights on the overall process and workflow efficiency, time spent by team members on critical business applications, time taken on each process, outcomes of processes, and more. It also visualizes the data in an easy-to-understand manner so that management leaders can make better decisions for overall growth.
Depending on the cloud infrastructure, we can further classify cloud analytics in the following categories:
Public cloud analytics: It’s the most commonly used form of cloud analytics system available. Here, many businesses share a common cloud service provider, while the vendor ensures the data security of individual businesses.
Business Intelligence systems on the public cloud are more cost-effective compared to other cloud systems. Organizations can also integrate third-party analytics software with their cloud applications to further refine data insights.
Private cloud analytics: Private cloud analytics is ideal for big organizations that seek total control and security over highly sensitive data. We can customize private cloud analytics at a micro-level to match company standards. However, designing, deploying, and maintaining private cloud analytics is a rather expensive affair. Therefore, its use is limited to big institutions like banks, healthcare organizations, and government bodies that need to adhere to very stringent data security and compliance rules.
Hybrid multi-cloud analytics: This approach is gaining more popularity among scaling businesses. It incorporates a variety of combinations between public cloud, private cloud, and on-premise servers to design a flexible analytics ecosystem. Organizations can store highly sensitive data in a private cloud, less sensitive data in a public cloud to manage costs, and conduct analytical activities in the on-premise servers. Your cloud BI solution can interact with each cloud system to extract information and package it for actionable insight generation.
Benefits of cloud analytics
Cloud analytics uses a digital system that can be scaled up and down depending on your current business needs. You don’t need to invest in physical on-premise servers to expand your analytics capabilities. Having a scalable cloud analytics system allows your business to gather and process a huge amount of data in a short time to create a flexible marketing strategy.
Central data hub
As your cloud database or storage platform works as a central data hub, it’s easier for platforms like Microsoft Power BI to extract data stored in various formats to maximize the quality of insight. It also saves a lot of time in finding the right data from the right sources and reduces errors in the outcomes.
Unlike legacy systems, where you need in-house expertise to maintain enterprise applications, you can maintain cloud analytics with third-party support. In most cases, the company that provides cloud services also undertakes support, maintenance, and upgrade of your cloud infrastructure.
All these factors let you enjoy the best qualities of business analytics systems while saving precious time and resources.
Cloud analytics solutions are very cost-effective since they don’t require an enormous investment in hiring data scientists and building analytics programs in-house. With rapid advancements in technology, cloud computing is getting more affordable for scaling startups and small and medium businesses (SMBs). All you need is the right cloud computing partner, like VBeyond Digital, that can provide and maintain an end-to-end cloud infrastructure.
Most cloud analytics service providers put immense focus on improving the security of their cloud infrastructure. They ensure the data stored in the system stays protected from external threats using multi-factor authentication, device diagnosis, and other latest security protocols. Therefore, it’s crucial to pay close attention to the security policy of your cloud service provider before partnering with them.
Additionally, cloud analytics provides more governance control by providing data access at various managerial levels. Such platforms can also be automated to seek out new data generated and generate insights at regular intervals to help various business departments meet periodic reporting and compliance deadlines.
VBeyond Digital: Your trusted cloud and analytics partner
Creating a cloud-based analytics system for your enterprise needs a thorough knowledge of cloud computing and real-world expertise for successful implementation – and we’ve got both. VBeyond Digital is more than happy to help you create powerful customizable cloud analytics systems and integrate them with your cloud applications.
Feel free to reach out to us today to build a next-gen data analytics infrastructure for your business.