Bringing the idea of analytics on the go, cloud analytics is changing the way we access enterprise data by making it available in a secure, accurate and impactful manner.
As the present trend suggests, much of the unorganized data has already made its way to the cloud and analytic tools are becoming more and more cloud-centric to adapt to this change.
The widespread adoption of cloud analytics is thus encouraging the Global Cloud Analytics Market, which is looking to post an impressive CAGR of 26.29 percent from 2014 to 2019.
What Does it Mean to Implement Cloud Analytics?
Cloud analytics is a service model in which one or more key elements of data analytics are provided through a public or a private cloud.
It involves providing business analytics solutions to customers at a low cost and an efficient manner. Analytics applications and services can either be subscription-based or on a pay-per-user basis.
Cloud analytics solutions can be classified as follows:
- Machine Data Analytics
- Predictive Analytics
- Spatial Analytics
- Speech Analytics
- Text Analytics
- Video Analytics
- Web Analytics
How Will Cloud Analytics Make a Difference?
Organizations swear by the benefits of cloud analytics for it allows seamless control and access to data with a quick response time to every changing business need.
By extracting selected data and analyzing it from different points of view, cloud analytics brings convenience to report reviewing, complex analytical problems solving, predictive analysis, budgeting, and forecasting.
Bringing their insights on emerging trends in cloud analytics, TechNavio analysts observe:
Cloud-based applications and analytics solutions are gaining widespread popularity in healthcare and IT companies. The emergence of cloud analytics in healthcare, in particular, holds tremendous promise for the future.
Considering the way healthcare data is managed currently, it would make perfect sense to adopt cloud analytics to store patient critical information efficiently so as to use it later for insights into a patient’s history.
Cloud Analytics: Bringing The Best Out of Social
Data analytics on the cloud enables tracking social media traffic and gaining insights into customer’s needs that ultimately helps in serving them with customized solutions.
SaaS-based social media analytics involves remote positioning of various tools, which helps in collating data and tracking the trends and patterns of visitors.
It has not only helped companies in serving their customers better, but has been instrumental in attracting new customers.
Reducing Costs and Improving Revenues
Adoption of cloud analytics translates to implementing cost-effective IT Infrastructure. These solutions are seen to result in reduced costs and increase productivity in real-time.
While cloud analytics is helping organizations in their decision-making, it is also bringing an endearing prospect of higher ROI for its IT managers.
To sum it up, while organizations across the globe have sensed the urgency to be more analytical and insightful, cloud analytics is indeed making decision makers to sit up and look!
