Future Trends In Cloud Analytics

Integrating big data analytics and cloud computing into a business platform has given companies a competitive landscape, the ability to adopt advanced technologies, and increase revenues. Cloud analytics is a service model that encompasses business intelligence or data analytics performed on a private or public cloud to eliminate expense and maintenance costs associated with on premises data storage and computing. As a distribution model, the adoption of cloud analytics will increase the efficiency and profitability of companies and help them carry out business functionalities more efficiently and help to reduce costs. Businesses experiment and iterate on different cloud architectures to understand and optimize criteria for their applications for big data analysis without significant expenditure of resources.

Cloud analytics tools enable organizations to tackle rapidly changing business needs and offer quick access to real-time data, resulting in more precise and accurate business decisions. Since the IOT is generating a massive amount of data at a continually increasing rate, there is a high demand among businesses to introduce a cost-effective delivery model to consolidate data in a streamlined way and a better insight of the data they possess. Cloud analytics platform enables companies to obtain valuable insights from data they produce, which help them to widen their customer base, increase revenues and margins, and launch new products quickly according to consumer needs.

Increased penetration of IoT and cloud computing is having the most significant influence on global cloud analytics market growth. Cloud analytics solutions continue to influence how organizations run, organize, and use produced data through their digital channels. In addition to this, increasing demand for reliable, flexible, and efficient data storage platform and growing penetration of the Saas platform among businesses has positively influenced global cloud analytics market growth over the forecast period. In addition to this, the adoption of cloud analytics using text analytics for fraud detection and security management has further elevated the global cloud analytics market growth. In addition to this, emergence in big data and ease of installation of the cloud platform are major driving factors for cloud analytics market growth. Nevertheless, security concerns associated with cloud analytics is a key challenge that hampers the market growth.

With the rising digitization, availability of a wide range of data, and the desire to remain at the forefront of competition have led organizations to focus on cloud analytics to adopt the strategic decision-making process. Businesses these days are moving towards digitization to improve business strategies by analyzing a large amount of unstructured data flowing through various platforms. The rising demand among companies to gain insights from data and understand customer trends and launch products accordingly is one of the major drivers for the growth of the global cloud analytics market growth.

Cloud analytics platform does not only help organizations to make better strategic decision-making but also enable them in high operational efficiency, improved customer satisfaction, and vigorous profit and revenue levels. Thus, as unstructured data increases, there will be a robust demand for cloud-based data storage and cloud analytics tools.