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Cloud analytics redefine business operations by providing a scalable infrastructure with centralized data and cost-cuts. 

Data, known as the digital currency that is abundantly available in the current scenario, is a pioneer in the digital transformation of businesses across various industries. Emerging developments in data analytics positively impact business outcomes and growth. Analyzing and storing these huge chunks of data has always been challenging for enterprises. 

Cloud computing platform offers to store and analyze this exceeding data limits with maximum flexibility and scalability. Cloud data analytics is the new wave of leveraging data to gain better business intelligence. According to a market research report, the global cloud-based business analytics software market size is projected to reach $57,055 million by 2023, growing at a CAGR of 10.2% from 2017 to 2023. Data analytics can be fully or partially conducted in the cloud through public,  private, and hybrid clouds. Many enterprises are shifting to cloud-based analytics since it promises faster and smarter business decisions.  Enterprises can leverage cloud computing in data analytics to streamline business intelligence by optimizing operations, ensuring real-time customer interaction, easy accessibility, and enables the use of the internet to create prediction models. 

How Comfortable is Cloud Data Analytics?

Cloud can easily become the next frontier in data analytics with its wide range of capabilities. Accessibility and scalability are two of the most significant benefits of utilizing cloud computing in streamlining business intelligence. The web-based infrastructure of cloud systems enables access to data from any connected device from anywhere with a network connection. Thus, data analytics through the cloud ensures that you receive insights in real-time with maximum sharing and monitoring possibilities. 

  • While using the cloud for data analytics enterprises do not have to worry about purchasing hardware to accommodate increasing data needs. Cloud offers maximum scalability and you can increase or decrease storage space according to a spike or reduction in data at minimum cost. Cloud proves to have a great advantage over on-premise analytics solutions that demand an upgrade of IT infrastructure in case of a need for more storage space. 
  • With cloud-based data analysis, an enterprise gets to possess centralized data. Cloud collects the business insights in a single source, unlike the on-premise systems that distribute data across various systems like CMS. The centralized data storage method saves time in integrating data and improves data accessibility to the whole enterprise. 
  • Cloud-based analytics reduces operational costs by reducing maintenance risks and minimizing investments in hardware analytics solutions. Cloud enables enterprises to focus on their core competency by limiting downtimes, cutting costs, and providing data backups. 

Are the Benefits Impressing Enough?

Every technology will have some repercussions that need to be addressed. There are some concerns that enterprises should consider while moving to cloud-based analytics. Cloud data analytics provides many benefits especially a reduction in costs, which is highly recognized by business enterprises. A lack of understanding about cloud-based analytics and services can lead to wrong choices. 

  • There is a looming concern over the security of cloud systems. Since cloud analytics enables access from various devices like mobile phones, there is a chance of security breaches. The leakage of sensitive data to the cloud service providers also raises a concern. Although, cloud service providers are now using advanced measures to maintain the security level on the platforms. With the increasing adoption of cloud analytics, enterprises will gradually learn to mitigate the security issues considering its huge thread of boons. 
  • Developing unexpected costs are another area that enterprises should address. Cloud analytics is hailed as a cost-efficient solution but clients often end up wasting space and making unnecessary payments to the providers. With the popularisation of cloud analytics, the demand and competition have escalated. Hence, enterprises should consider exploring and inspecting payment methods offered by different service providers before taking a leap. 
  • Building a workforce with the necessary skill set to maintain and manage cloud analytics systems is important before migrating. This will ensure that the updations and backups are done on time without hindering the process. Once all these concerns are addressed, the benefits will be enough to impress enterprises so that cloud analytics becomes the best way to streamline business intelligence and growth.