Cloud analytics is a form business intelligence in which information moves electronically to a cloud network. Data travels through different models and allows users to examine business data. Data stored in the cloud becomes accessible for discovery, interpretation, and communication of meaningful patterns. Cloud analytics is a way to store large amounts of data, without costing a fortune. The cloud frees companies from the shackles of on-premise storage.
Types of cloud analytics
Public cloud – Public cloud shares IT systems, however, data is not distributed. It contains shared infrastructures such as data processing, virtual machines and storage that is made accessible to everyone.
Private cloud – These types of clouds are committed to one organization but they are costly. The main function is to expand the existing IT infrastructure. Data is often sensitive and cannot be accessed by outsiders.
Hybrid cloud – A hybrid cloud is a mixture of both public and private cloud. Data stored here can be sensitive and non-sensitive.
Components of cloud analytics
In order for cloud analytics to function properly, there are required core elements known as:
Data sources – These are original sources of the data. These can include companies CRM and ERP. A Customer Relationship Management system is used to organize, automate and synchronize sales, marketing, and customer service. ERP is a financial and operations system for improving the efficiency of business processes and is also known as enterprise resource planning.
Data models – These models assist in making connections between data points and clarifies how they are related to one another.
Processing applications – Through this component, large volumes of data are processed.
Computing power – Businesses require computing power to clean, examine and structure data for use.
Analytic models – These are numerical models that estimate an outcome. They entail a lot of computing power.
The benefits of cloud analytics
Cloud Analytics can create a competitive advantage that leads to positive outcomes while still maintaining data protection. The following benefits are:
- Effortless data – Data is kept up to date. There is real-time data organization, changes are updated and saved instantly. Data saved in the cloud cannot be lost unlike its physical counterpart.
- Flexible and faster data – Cloud analytic can be scaled to suite a company’s needs. The storage can also be increased or decreased to the capacity is needed.
- Sharing and collaboration – Employees can access data stored in the cloud anywhere at any time. Information can be uploaded and downloaded which boosts teamwork within global companies.
The challenges of cloud analytics
Although there are benefits, there are also challenges to illustrate:
- Technology constantly evolving. Those managing cloud analytics will continuously need to keep up to date with the latest trends and tech innovations.
- Moving data to the cloud can be time-consuming and there is a possibility for errors if procedures are not followed correctly.
- Costs for cloud analytics can become expensive when more functions are required. An increase in users may result in a change in subscription fees.
Commercient SYNC makes data integration simple and user-friendly. Information is made available on a platform accessible to all employees. Through cloud analytics data is transferred and stored according to the business needs. Unlike traditional data integration tools such as an ETL, there is no coding, mapping, or server. We handle everything, so you can focus on growing your business. Contact us today for a free Commercient SYNC demo.
To conclude, the variation of data storage allows multiple users to benefit from cloud analytics. Cloud analytics is there to benefit employees of companies to evaluate data quickly, enabling them to see the bigger picture. The possibilities in terms of sharing, storing and organization of data are endless.