Analytics is essential to derive valuable insights based on data obtained from multiple sources. Today, the volume of data generated is vast due to growth in technology/automation. But many organizations can’t afford/own the scale of infrastructure needed to analyze a massive volume of data.
The advent of cloud-based services has enabled “utility computing,” where organizations hire computing infrastructure from cloud providers at a reasonable cost. In addition, cloud-based solutions help analyze voluminous data and derive valuable insights that would otherwise be impossible.
Adopting the cloud in business analytics has enabled organizations to find new ways to meet business goals. So, let’s quickly go through how cloud-based solutions can take your business to newer heights.
Benefits of integrating cloud in business analytics
- Faster Data Analysis
Cloud enables faster deployment of analytics solutions. These solutions can be accessed anywhere, anytime by employees since they are accessible outside the organization’s firewall. In addition, an organization’s customers/partners can also easily access relevant analytics information by deploying services like cloud in business analytics.
- Better Client/Customer Management
Organizations using cloud in business analytics and enterprise services like CRMs and ERPs always have access to relevant data for analysis. Cloud-based analytics solutions utilize streamlined data solutions to eliminate the need for unnecessary data transfer/sharing requirements. In addition, it helps organizations refer to customer/client data around the clock from anywhere, making it simpler to develop client-specific strategies.
- Less Dependency on IT Admins
Maintaining on-premises data warehouses and related services are burden that companies can shed off by upgrading operations. It eliminates increased dependency on IT administration management and provides easy scalability as and when required. Shifting away from on-premises solutions also removes chances of downtimes transforming internal business operations into a robust well-oiled machine with cloud in business analytics.
- Increased Collaboration
An organization works with multiple verticals to meet business goals. While legacy setups have aided business structures, modern data-driven strategies often face hurdles in meeting targets with decade-old approaches.
Today’s world of business requires a streamlined process and collaboration between teams in every step. Integrating cloud into business analytics makes it easier for organizations to collaborate in real-time to develop new strategies and reports that help to meet business goals.
- Financially Efficient
One of the biggest targets for every business is to adopt cost-efficient approaches that offer increased ROI. Deploying cloud in business analytics allows organizations to move away from costlier setups and work with a more financially sound business model. From eliminating on-premises services to unnecessary data transfer costs, modern could-based solutions can optimize fund allocation to meet and expand into new avenues.
Cloud in Business Analytics – Cons
- Security Concerns – Security of your organizational data can always be a primary concern in cloud-based applications.
- Mandatory Upscaling – Hosting legacy applications on the cloud may not derive value because they are functionally less capable than the latest analytics applications.
- Selecting the Right Service – Choosing the right cloud vendor who employs a proper security strategy like threat assessments can be a problem as you may not know it upfront.
- Workforce Upskill – Adopting a new, high-workplace culture can take time as the workforce will need time to accustom to new tools and user interfaces.
Integrating cloud in business analytics seems to be the perfect approach to keeping up with a data-driven business world. Yes, it has its immediate hurdles, but it can help streamline services and meet business goals faster when done correctly.
So, Are you looking to know more about how to deploy cloud in business analytics for your organization?
Integrate Cloud in Business Analytics with PreludeSys
Adopting new business solutions designed to meet era-defining requirements can add value to your business and help streamline operations. If you’re looking to adopt the latest technologies to eliminate detrimental approaches, we are happy to help. PreludeSys is a Microsoft Gold Partner with decades of experience in assisting businesses to adopt technologically advanced solutions. We can help develop custom could-based solutions suited for your organization’s goals and deliver a streamlined service.
For more information, feel free to connect with us anytime!