Thought Leadership

The world of data analytics is constantly evolving, and businesses are increasingly turning
to cloud-based solutions to manage and analyze their data. In this blog, we will explore
the advantages of cloud-based data analytics solutions.

Advantages of using cloud based data analytics solutions

First and foremost, cloud-based data analytics solutions offer businesses greater
flexibility and scalability. With cloud-based solutions, businesses can easily scale their
computing resources up or down depending on their needs. Hence, this means they can quickly
respond to changes in demand and avoid over-provisioning or under-provisioning their
resources. As a result, businesses can optimise their IT spend and reduce their
operational costs.

Another advantage of cloud-based data analytics solutions is that they offer greater
accessibility. Also, cloud-based solutions can be accessed from anywhere with an internet
connection, which means that employees can access data and insights from their mobile
devices or laptops while on-the-go. Therefore, this also enhances collaboration and enables employees
to make data-driven decisions more quickly.

Cloud-based solutions also offer greater security. Furthermore, Data stored in the cloud is often more
secure than data stored on-premises, as cloud providers typically have advanced security
measures in place to protect against cyber threats. Moreover, Cloud providers also regularly update
their security protocols to ensure that they stay ahead of new threats.

Cloud-based solutions also offer greater reliability and availability. Also, cloud providers
typically have multiple data centers around the world, which means that data is replicated
across multiple locations. Therefore, this ensures that data is always available, even if one data
center experiences an outage. Additionally, cloud providers often have service level
agreements (SLAs) in place that guarantee a certain level of uptime and reliability.

Finally, cloud-based solutions offer businesses greater agility. Moreover, with cloud-based solutions,
businesses can quickly spin up new environments and test new hypotheses without
having to make significant capital investments. Therefore, this also enables businesses to experiment
with new analytics tools and technologies and iterate more quickly.

These are some of the reasons why cloud-based analytics has been gaining such traction
in the recent past and there’s no signs of slowing down.

• According to a report by Grand View Research, the global cloud-based analytics
market is expected to reach USD 77.4 billion by 2026, growing at a CAGR of
23.5% from 2019 to 2026.
• A survey by IDG found that 90% of organizations use cloud-based services in
some capacity, with 73% of those organizations using cloud-based analytics.
• A study by Dell EMC found that organizations that use cloud-based analytics are
able to complete data analysis tasks 3.3 times faster than organizations that do not
use cloud-based analytics.
• According to a report by Cisco, 83% of all data center traffic will be based in the
cloud by 2021.
• A study by Nucleus Research found that businesses that use cloud-based analytics
solutions achieve an average of 2.7 times the return on investment (ROI) compared
to on-premises solutions.
• According to a report by McAfee, 73% of organizations that use cloud-based
solutions experienced improved security as a result.

These statistics demonstrate the growing popularity of cloud-based analytics solutions
and the benefits that they can offer to businesses. Furthermore, from faster data analysis to improved
ROI and enhanced security, the advantages of cloud-based solutions are clear. As
businesses continue to invest in cloud-based analytics, we can expect to see even more
innovation and growth in this exciting field.

In conclusion, there are many advantages to using cloud-based data analytics solutions.
Also, from greater flexibility and scalability to enhanced accessibility, security, and reliability,
cloud-based solutions offer businesses a range of benefits that can help them stay ahead
of the competition. As the world of data analytics continues to evolve, businesses that
embrace cloud-based solutions will be better positioned to succeed in the digital age.