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The process of storing and analysing data using the cloud and algorithms to take high impact business decisions is cloud analytics. Much like on site data analytics, in cloud analytics algorithms are applied to large data collections to identify patterns, predict outcomes and extract information that will be vital to business executives to make informed decisions for the growth of the company.
Data is produced from various sources inside an organisation, and it is nearly impossible to get them for a unified view. Cloud analytics brings all the data from an organisation under one umbrella to form a complete picture for all the important executives to make informed decisions no matter where their location is.
The trouble with big organisations is that data gets stuck in one particular department and the flow of data is not facilitated to make informed decisions. Cloud analytics can integrate data from different departments to facilitate faster and better decision making.
With cloud analytics scalability would not be a problem. With increasing demand the rapid scalability is easier than ever as there is no need for hardware or infrastructure, and scaling back down when the demand subsides is also not a big issue to deal with. Cloud analytics is overall very flexible in terms of scalability and development.
Since everything is set up in the cloud, there is no need for hardware or infrastructure requirements so the cost of setting up a Cloud analytics set up is drastically less than on-premise analytics.
Your business pushes out unbelievable amounts of data everyday, the potential of this data if captured can bring about tremendous growth and opportunity to make actionable and intelligent choices for the development of the company and to reduce the maintenance cost for your business.