The global business intelligence and analytics market has seen a large amount of activity inRead More
Could more money be spent on cloud analytics?
Cloud analytics has become an important technology in the IT sector as more companies now rely on it in order to address their business’ performance.
With more professionals now relying on online storage instead of spending money on hard drive space, it is clear that the technology is being embraced by a number of industries in order to improve security.
A study from Informatica found that 68 per cent of respondents will investigate or deploy cloud analytics solutions in the next year, whereas 74 per cent are set to adopt a hybrid or cloud-only method to analytics across the next three years.
The report shows that cloud analytics adoption is mainly being driven by growing end-user requirements for better analytics, with key factors including consistency of data across systems (81 per cent), real-time data aggregation and analysis (71 per cent) and better ways of exploring data in terms of visuals (70 per cent).
What are the key considerations for cloud analytics?
Many considerations need to be made when it comes to cloud analytics, and Informatica’s study found that the robustness of the data security framework was the most important factor to evaluate (81 per cent), followed by ease of use (78 per cent), ease of on-going administration (77 per cent), the ability to integrate on-premise and cloud data (78 per cent) and the ability to cleanse data (74 per cent).
Ajay Gandhi, vice president of product marketing for Informative Cloud, said: “IDG’s survey shows that cloud analytics is on the fast track to becoming the new normal for enterprise analytics, supporting user requirements for enhanced functionality, flexible data access and simplicity, and IT requirements for lower costs and increased agility.
“The survey also makes it clear that as customers move to attain these advantages, they are not going to compromise on data security. It also reveals that they want the fullest measure of flexibility and ease-of-use from their cloud analytics solutions in order to empower the growing class of users who need analytic capabilities, but who lack the specialised skills required by legacy on-premise solutions.”
How is cloud analytics being used?
Cloud analytics is being used in a number of ways, with Informatica’s research showing that organisations are being used in several ways, with 43 per cent incorporating analytics into Customer Relationship Management (CRM), Supply Chain Management (SCM) and other operational applications.
Some 39 per cent analyse cloud data sources including software-as-a-service (SaaS), social and IoT (37 per cent) and hybrid data warehousing (32 per cent).
Cloud analytics is also increasing in popularity due to the need to access both cloud and on-premise data, including the need to analyse data from on-premise applications (55 per cent), on-premise data warehouses (55 per cent), cloud data warehouses (49 per cent) and SaaS applications (44 per cent). An additional demand is the support for big data sources.
The study highlighted that one of the key benefits of cloud analytics is lower upfront costs (60 per cent), improved agility and faster time to market (61 per cent), cost-effective scaling for larger data sets (60 per cent) and self-service options for non-technical users (51 per cent).
Dan Vesset, Program VP, Business Analytics and Information Management at IDC, said: “With most business analytics solutions today iterative development, experimentation, and incremental roll-outs have become the norm.”
Mr Vesset explained that the agility and adaptability of the solutions is one of the biggest selling points of cloud analytics services, as they allow customers to try and buy and address any new requirements.