Multinational companies are slowly but surely waking up to the power of cloud based analytics as a way of guaranteeing the success of critical business indicators such as, collaboration and customer engagement. Despite this, many organisations remain wary of cloud-based systems due to the difficultly in finding the right provider and the associated security risks.
But what are the main advantages of analytics in the cloud? In truth, they're plentiful, with cost and accessibility just two of the metrics which companies can expect to improve upon. With cost for example, cloud-based systems require a subscription fee that is normally below the price of hardware and maintenance for on-site systems. For small companies, systems like Amazon Redshift offer a simple and cost effective way for data management in the cloud, giving SMEs an opportunity to implement a system that would previously have been too expensive.
Cloud analytics has also been widely used in the Sports Industry as a way of fostering customer engagement. Major sporting organisations including, the NBA, NHL, NBA and The Premier League use data analytics in order to illustrate fluctuations in both individual player and team performance, with this allowing fans to become more engrossed in fantasy leagues and the whole make-up of the sporting calendar. This has been made possible by the speed at which data can be processed on the cloud, making ticketing strategies and advertising more intricate and in tune with customer desires. Flexibility is also a major advantage as the system simplifies complex IT operations that cost an organisation considerable time and expense.
Data hacking does happen, in fact, it happens far more than anybody would like, but it's important to add that hacks remain a rarity. The best provides are forced to comply with strict regulations that make sure that security standards are as high as they could possibly be.
Through cost effectiveness and easily deliverable insights, cloud based analytics should be looked at as the best option for companies who are looking to make the most out of their data.