Every business is unique. Yet all businesses share certain common aims. They are all focused on profit, on efficiency, on insight and on the future. All businesses want analytic protocols and structures that grow alongside the organization, providing ongoing benefit no matter what the future holds.
This is why analytics is so important to business. Understanding your organization, knowing what is required to achieve success in your market, and defining your future objectives, are all vital to ongoing growth and provided by robust analytic structures.
So how can this level of analysis be accomplished, not just for today, but forever? By adopting and embracing the power of cloud technology. Read on to discover why the cloud really is the future of analytics for your organization.
The Internet of Things
The days in which we had to manually feed data into a computer system are now lost somewhere in the distant past. Instead, we are moving into an age in which everything is connected. Everything is capable of recording and processing its own data.
The Internet of Things has become something of a buzz phrase in recent years, but it still needs to be dealt with. Technology now permits even the most mundane of household objects to become smart items, taking stock of the world around them and amassing data in their own right. For analysts, this is an incredible development.
Imagine being able to gain data directly from a toaster in a family home, or from the desk at a university, from hospital beds. Imagine how useful this could be. Well, we don’t need to imagine any more, thanks to the Internet of Things.
So, where does this leave us? It leaves us with vast amounts of delicious data just waiting to be analyzed and processed. For the majority of us, the only way to store and manage such a deluge of facts, figures and insight is in the cloud.
Don’t bet against the volume of data increasing, either. As more and more devices become ‘smart devices’ the level of information will increase even further and cloud storage solutions will become even more vital.
Real Time Is Everything
Analytics are only as good as the information they receive. One of the factors that contributes to this ‘quality’ is timeliness. For the most part, analysts and analytics are deployed in fields were time is of the essence. This means that analytic procedures are time-critical. They must be carried out while the data is still fresh, relevant and insightful.
In industries or fields where the goalposts are constantly shifting and everything is in a state of flux, this can be incredibly difficult to achieve without cloud technology. Traditional data storage and management systems are simply too inflexible, too cumbersome, and too unresponsive.
Instead, what’s needed is a platform onto which information can be uploaded in real time. This information can then be edited, examined and utilized whenever such action is required. Such flexibility and versatility can only be provided by a cloud platform.
By harnessing the power of cloud within their analytics, companies suddenly become far more agile, able not only to react to the latest changes, but also to produce reliable projections for the future. This is now no longer a luxury for organizations who rely on their analytic software. Instead, it is a necessity for companies who wish to stay at the forefront of their field.
Application and Collaboration on Demand
Of course, the applications of the above are almost endless. They will provide tantalizing opportunities for business. Cloud platforms, which can be accessed, examined and updated in real time enable teams operating remotely to work together. This seamless collaboration is achievable not simply on a nationwide level, but on a global one.
For example, an organization with their headquarters in Minnesota may suddenly detect a shift in the data gathered from their Brazilian market. This data analysis is then available on the organization’s cloud platform for immediate use by any member of the organization with the appropriate security clearance. An account manager pitching to a client in Tokyo checks the platform twenty minutes before his presentation begins and is able to deliver the latest analytics hot off the press, sealing the deal.
This kind of flow of information is the kind of thing that business owners used to dream about. Nowadays, cloud computing technology makes it possible for all. This underlines the importance of the cloud and shows us why it represents the future of analytics. Can you afford to miss out on such wide ranging technical applications? Can your business do without such close collaboration between remote teams? The answer to both questions is probably no, so it is fortunate that you don’t have to.
The Right Platform for the Job
But perhaps the most exciting element of a cloud analytics platform, and the essence which underpins its value going forward, is the supreme customizability of the cloud. When a company invests in server hardware – whether remote or hosted onsite – the die is cast. Configuring data servers to meet the developing needs of a company can prove difficult and expensive.
The cloud represents the polar opposite of this. It can be tinkered with and reconfigured to meet any needs that an organization might encounter as it grows or changes. Perhaps a company requires full native analytic application hosting in the cloud, or maybe it needs a hybrid approach, bridging the gap between cloud and physical storage domains.
So, rather than making the best of a bad situation, business owners find their analytic needs met with consummate ease. The moment these needs change – for example, during scaling, while opening a new line of business, or other alteration – the cloud platform can be modified to support this.
Cloud is the future of analytics. There is no escaping this fact. A failure to adopt cloud technologies within your analytic strategies represents a major risk. Embrace the cloud, embrace what it represents, and future proof your analytics.