Data analytics is a process of synthesizing information gathered from a site that could be utilized in a way that helps a business foresee, understand and strengthen decisions that need to be made. Now what if you were told that you could use data analytics in the cloud. Ah yes, the infamous cloud, there’s no doubt that undergoing this process is becoming a transformative and in many ways, positive move across businesses today.
The challenges of cloud-based data analytics
With data analytics comes the need for data scientists. It’s no secret that finding quality data scientists isn’t exactly a stroll in the park. Recruiting, training and integrating a data scientist into your business can be quite the struggle. Because of the limited talent pool in this arena, many businesses are focusing on training and development. Sometimes it’s easier to train up internal talent because they already know your business.
Another thing you often hear being questioned about the cloud is how secure is the cloud really? I mean it is a little bit of an enigma in itself. With that being said, public cloud environments like Amazon Web Services (AWS) can come along side of you to build multi-factor authentication, encryption, and different security credentials that fit your company. However, you need to ask yourself, do you trust someone else to manage your information and data? Many would answer no to that question.
One last challenge to consider is data governance and regulations. Data governance creates controlling standards and context-specific policies regarding analytics. However data sources do change based on the type of analytics being performed. This could present challenges to companies wanting to beef up their data security across varying sources.
Despite these points, there are benefits that may outweigh the challenges.
Faster time to the market
Cloud-based systems are quick! They can help by exponentially cutting down the deployment time and cost as well as help users exploit a common platform. Fast-paced companies are often more so driven by pace and innovation rather than costs so a cloud-based system is definitely helpful. Basically, because a cloud-based system is so quick it helps businesses get their products to market faster.
Total Cost of Ownership
Total Cost of Ownership (TCO) makes a cut and dry case for businesses to analyze the total cost of technology needed to run their business making it an important aspect of cloud computing. TCO includes immediate and estimated costs to keep a business on track and moving forward. It’s all about the right services and the right costs and data analytics can help with those decisions.
Using cloud-based analytics to create a sense of organization offers businesses guidance while keeping them completely agile. Basically, why would you continue to make educated guesses on your data when you could use power of data analytics in the cloud?
Want to enhance your ROI? Then utilize data analytics! The science of data analytics eliminates all the guesswork out of decision making processes and applies proven experimental rules to give you the right decision in the shortest time possible.