What is Cloud Analytics?
The term "cloud analytics" describes a subset of data analysis that moves data processing and storage functions to a private/public cloud. Cloud analytics solutions, like on-prem data analytics, assist in finding trends, forecasting outcomes, and extracting business intelligence approaches. But it goes beyond those features to let teams use cloud technology and algorithms to work with enormous volumes of intricate business data.
Many of the solutions of conventional data analytics are also provided by cloud analytics in cloud ecosystems. However, cloud analytics offer the elements to underpin developing, implementing, expanding, and administering data analytics on the cloud on a third party's infrastructure, as opposed to hosting each thing on-premises.
Cloud Analytics solutions – Use Cases
- Establishing a single source of truth through the development of integrated analytics platforms.
- Examining cloud usage and infrastructure to enhance efficiency and minimize cloud or IT expenses.
- Utilizing consumer data to find new audiences and prospective clients.
- Demand, purchase intent, and total customer lifetime value forecasting.
- Adjusting prices in response to shifting market conditions.
- Accelerating genetic data processing to enhance research and development in the medical and biological sciences.
Cloud enterprise data warehouses, data lakes, on-demand BI, and marketing analytics are a few examples of cloud analytics solutions.