The Benefits of Cloud Analytics
Cloud-based data analysis is a powerful business intelligence tool that offers easy access to large amounts of real-time information. It can help companies improve operational performance and drive new value.
Increased scalability: The ability to add or subtract computing and storage resources as demand spikes is a key advantage of cloud-based data analytics. This can help organizations avoid costly and time-consuming IT infrastructure upgrades that occur with on-premises alternatives.
Improved planning and forecasting: Cloud-based data analytics tools allow business users to ingest a variety of sources of data and combine that information into a single source of truth. This enables more granular analysis that results in improved planning and forecasting for future business decisions.
Better Security: Cloud-based data analysis platforms are designed with strong security in mind. They use advanced encryption technology to secure sensitive data and protect it against theft.
Greater sharing and collaboration: Cloud-based workflows and file sharing applications make it easier for teams to work together from different locations. This increases the likelihood of checkmate quality and streamlines business processes.
Reduced cost: Cloud-based data analytics is usually more affordable than on-premises options because it operates on a pay-as-you-go model. This allows businesses to pay only for the resources they actually need, reducing the costs of housing and maintaining expensive IT systems.
Cloud-based data analytics tools can be used across a wide range of domains, including marketing and sales, supply chain management, financials, security and more. In addition to these common use cases, companies are also able to apply them to more specialized areas like satellite data on climate changes or factory production efficiency.