“A Step in the Right Direction”
Cloud analytics is a term for the technologies and applications that help users pull data from massive data warehouses. Cloud analytics has the advantage of providing faster access time, an easier and more widespread access point, and a significantly cheaper cost structure then on the premise installations. However, the switch to cloud based computing was done slowly and with hesitation. This was the result of two initial concerns. The first was security concerns, having confidential information in the cloud creates easier access to those within a company but it can also attracts individuals outside of a company. The second concern was the initial investment that was needed to make the switch from on the premise installations to cloud-based installations. Companies questioned the benefits of switching to a new data storage and analysis system when the current systems that they were using were still functioning. Those organizations who took the leap and made the switch over to cloud computing found that the advantages, easier access and better efficiency, outweighed the initial concerns.
In MIS 2502, the importance of data analysis and its role in every day business decisions was greatly emphasized. ERDs were used to show the importance of giving an overview of the data, while MySQL and R studios underlined the importance of data extraction. Cloud analytics reemphases the importance of efficiently extracting data and giving a valid overview of the information.
Cloud analytics are designed to help companies pull valuable insights from massive data sets using different tools and techniques. Using algorisms, cloud analytics helps organizations perform tasks such as analyzing the financial funds for revenues and keeping track of customers. Time Warner Cable, for example, made the switch to cloud analytics to gain insight into the wide-ranging demographics and the variety of preferences and behaviors that they have. Time Warner Cable wanted a better understanding of which cable TV packages that customers preferred based of family size, income, and geography so that they had a better idea of what to offer.
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Myers, J. (2015, January). Analytics in the Cloud. Retrieved April 17, 2016, from http://research.enterprisemanagement.com/rs/ema/images/EMA-CloudAnalytics-2015-RR.pdf
Analytics as a service offers hindsight, insight and foresight. (n.d.). Retrieved April 17, 2016, from http://searchcloudapplications.techtarget.com/news/4500272691/Analytics-as-a-service-offers-hindsight-insight-and-foresight