We live in a data-driven world and generate data at a breakneck pace. The primary focus of every organisation across the industry spectrums is to harness the power of data. Here comes the role of a cloud-based Data Analytics platform.
These Cloud-Based platforms empower businesses to work on bulk data and process it efficiently. However, not all analytics platforms are the same. As a company, if you are willing to gain a competitive edge in the market, it becomes significant to focus on leveraging the benefits of a fully integrated cloud-based platform.
This type of platform enables businesses to seamlessly integrate data from various sources. At the same time, it also ensures the analysis of data in real-time. Thus providing a comprehensive overview of the operations. In the next few segments of this blog, we will be unfolding the details of the advantages of cloud-based Data Analytics platforms, and their different types.
Understanding What is a Fully Integrated Cloud-based Data Analytics Platform?
To define it in simple terms, a fully integrated cloud-based Data Analytics platform is a software solution that allows storage, processing and analysis of large volumes of data using Cloud Computing. These platforms are capable of analysing data swiftly irrespective of its size. Hence, such platforms ensure seamless Data Processing and analysis without any time lag or faults. Thus, enabling quick and accurate interpretation.
It can help organisations make informed decisions, identify patterns and trends, and improve their operations
Types of Cloud Analytics
In a broader spectrum, cloud analytics includes all the analytical techniques utilised for Data Analysis. Again, we cannot use just any analytics platform for every business type. Based on the user specifications, businesses can choose from any of the four types of cloud analytics:
Analytics in the Public Cloud
Organisations with limited resources and looking for a robust solution can opt for analytics on the public cloud. Moreover, it works seamlessly with advanced technologies like AI and ML. Example: AWS public cloud.
Analytics in the Private Cloud
Companies looking for a more secure solution can consider analytics in the private cloud. Meta, Target and others that actively handle large volumes of data use this platform. Since these companies are dealing with public data that need to be confidential, analytics in the private cloud suffices this requirement.
Analytics in the Hybrid Cloud
The hybrid clouds draw the benefits of both private and public cloud. It can analyse all the data with specialised tools. Moreover, remote software and hardware ensure secure connectivity and information sharing. Companies that trust hybrid cloud include names like Walmart and Apple.
Analytics in the Edge Cloud
It analyses the data in real-time. Thus enabling quick and prompt decisions. This is a particular benefit when it comes to handheld devices like mobile. Companies like VMware and Dell Technologies use this technology.
Take Your Business Operations a Notch Above with a Fully-integrated Cloud-based Data Analytics Platform
Integration of such platforms with businesses also brings with it several other benefits. These are highlighted below:
Real-Time Processing and Analysis of Data
This platform allows the business to assess and analyse the data in real-time. Moreover, platforms can handle bulk data and accurately assess it. This information becomes highly useful for companies. Thus helping them gain a competitive edge in the market.
Ease of Integration
As mentioned above, fully integrated cloud-based analytics platforms are easy to integrate. It can assess data from different sources like CRM and ERP, social media platforms and webinars. This makes it easier for the company to have a one-stop solution for all the Data Analysis. In addition, it also provides a comprehensive overview of the operations, thereby enabling better decision-making.
Ease of customisation is helpful for any business. It helps them to tailor their Data Analysis, thereby focusing it on a specific task. Thus making it easier for businesses to identify trends and patterns, helping them make more accurate and precise decisions.
Cost-Effectiveness and Scalability
A fully integrated cloud-based analytics platform is also a cost-effective solution. Unlike conventional methods, cloud-based platforms do not require infrastructural costs. Moreover, it can be easily scaled up or down as per the requirement of the business. Thus making it provide a highly customised solution for other companies.
Assurance of Data Security
The additional feature that the cloud-based platform offers is enhanced security. These platforms are laced with high-end security features, encryption, firewall, and multifactor authentication. Eventually, it ensures complete Data Security. Most of these platforms also come with easy recovery features that make it easier for the organization to recover if there is any loss of data.
From the above discussion, we can conclude that the advantages of cloud-based analytics platforms overshadow traditional formats. Hence businesses are now transitioning into this mode. Implementing the fully integrated cloud-based analytics platform brings with it several advantages like reliability, scalability and cost-effectiveness. Moreover, it makes it easier for you to access the data at any point in time. Additionally, there are no infrastructural costs associated with it, thus making it a highly profitable and efficient option for businesses.
Why is data-driven analytics of interest to companies?
There are several reasons that make Data Analytics platforms useful for organisations. Here are a few of the benefits:
- Informed decisions by providing insights into their business operations.
- Helps in identifying areas where a company can improve their business operations
- Assists in gaining a competitive edge
- Improve their customer experience
- Allows the companies to measure the effectiveness of their marketing campaigns
Why Are Data Silos Problematic?
Data is the most important asset for any organisation. And so losing the data can create problems as it hinders the process of collecting valuable insights. Thus, it blocks the comprehensive overview of the company’s data.
What Should a Company Do to Develop a Better Data Culture?
We all know the significance of data and its relevance in the present scenario. Today every company is working arduously to gain an edge in the market. While there are several ways to ensure the same, staying ahead of the competition and luring the customer are pivotal.
With better data culture, companies can guarantee the security of consumers’ data, provide services, and create strategies that are in the interest of the consumers. And so, the focus should be on creating best data practices. Here are certain steps that the companies can adopt:
- Use the right tools
- Promote data-driven insights and work
- Invest in training the employees on different tools
- Guidance on how to ensure Data Security
How Does Accenture Help Companies Harness the Power of Data to Achieve Optimal Business Outcomes?
Accenture is a renowned firm that offers expertise in Data Strategy and governance.
- Accenture’s comprehensive approach helps companies to formulate Data Strategies that are in sync with the business goals.
- Assisting in data management, integration and visualization. Thus ensuring access to high-quality data.
- Leveraging analytics services like ML and AI to delve deeper into the data and provide more precise and refined insights.
- Providing customised dashboards. Hence enable better work and effective reporting.