With companies heavily relying on data analytics to deliver highly customized customer experiences, more executives are weighing the pros and cons of moving their big data to the cloud. On the face of it, that transition makes sense for organizations that need additional resources to process and store big data.
The transition has been ongoing for some time, with small- to medium-sized businesses leading the way, and enterprise companies increasingly making the shift as well. According to 2014 research by Gigaom, 28 percent of large enterprises reported that they had started to leverage the cloud to provide additional resources for their big data analytic needs, while another 25 percent were planning to do so soon.
While ongoing concerns about cloud security and data governance may have some businesses reluctant to use the cloud, the benefits of making the move must be part of the equation. Here are some of the benefits companies are realizing by moving data analysis to the cloud.
Flexibility and cost-savings. Without the need to invest in infrastructure, the cost of cloud-based data analysis is a less expensive alternative. Also, with the ability to scale as needed, a cloud solution offers more flexibility for expansion.
Automatic software updates. The cloud computing option frees your team from the responsibility of maintenance. Software updates are performed on a regular basis without your team needing to invest time and resources.
Increased speed. With faster processing power, your company will be able to get new projects launched more quickly.
Ease with integrating external data. With the cloud, you’ll be able to more easily combine internal data along with insights from external sources, including weather, financial, and geographical data.
As more issues with transitioning to the cloud are addressed, including data security, companies of all sizes will find the viable resources they need to gain a competitive edge using data analytics. 2016 could be the year that your company gains those advantages.