Top 3 Challenges & Benefits of Data Analytics in the Cloud
Data analytics is a process of synthesizing information that could be utilized to foresee, understand, or bolster the decisions made by a business. Taking information as structured or unstructured, studying and analyzing the data, and using it to make decisions in the business world are all part of the science of data analytics.
It's no doubt that data analytics in the cloud is becoming a transformative and positive endeavor across organizations today. Here are three common challenges and benefits we see as businesses start adopting data analytics and big data solutions in AWS.
Talent Shortages for Data Scientists
As organizations grasp the power of analytics, demand for data scientists grows exponentially. Recruiting, training, and integrating data scientists into an organization can be more than half the battle. The quantity of open positions for data science professionals will at some point surpass traditional technology positions.
Because data science is an emerging discipline and resources are in demand, drawing talent from diverse experiences and expertise is critical. Managers must expand their reach toward analytical-driven employees and use training and development to enable data analytics within their organization. Managers may also consider incorporating employees with no direct experience but with high potential for analysis and critical thinking.
With a limited talent pool for data analytics skill sets, companies are focusing on training and development. Successful organizations know that developing internal talent is easier in some instances because the employee already knows the business.
There are still debates about the 'security of the cloud', and while cloud security and compliance are developing, it would be amiss just to accept that the security concerns will disappear.
Considering public cloud environments like Amazon Web Services (AWS), it is presumably as secure as it can be architected. AWS and partners will work with you to build multi-factor authentication, encryption, and different security credentials that fit your organization. The question that needs answering is, do you trust someone else to manage and ensure your information and data? No, you must architect and design a public cloud environment to maintain your organization's security policies and standards.
Given that AWS “hands over the security keys” to the customer to assemble their services, security turns into an organizational responsibility. For every client, the approach and the decision will be unique. Local laws might also influence your decision about what kind of information you are permitted to host, share, and analyze.
Data Governance and Regulations
Data governance and analytics does not get talked about as often as analytics and data management. Data governance offers controlling standards and context-specific policies regarding analytics. However, in the world of data analytics, data sources simply change. Data sources vary drastically based on the type of analytics being performed. Organizations will face challenges when attempting to improve data security among varying sources of data.
Faster Time to Market
Cloud-based systems, such as Amazon Web Services, help by enormously diminishing deployment time and cost as well as empower users to exploit a common platform. In many cases, startups and fast-paced organizations are driven by pace and innovation rather than costs. For these companies, the business case to make sense of data faster and more precisely is a top priority. Cloud services and applications can help in speeding up the process, subsequently permitting users to get their products to market faster.
Total Cost of Ownership
Total Cost of Ownership (TCO) is a crucial piece of cloud computing. It makes a clear case for businesses to evaluate the total cost of technology needed to run their business. It includes the immediate and estimated costs expected to keep the company moving forward. TCO is simply not about cutting expenses or selecting the IT platform with the lowest cost. That's not the best decision. It is about the right services and the right costs. Data analysis can help in accomplishing that decision.
Business Performance and Agility
It is no longer sufficient to make educated guesses when you can leverage the power of data analytics in the cloud. Creating an organizational culture based on using business analytics in the cloud offers companies guidance while staying completely agile. Additionally, it offers them assistance with making more brilliant decisions on where to take the company - and how to arrive.
Data analytics gives your organization an aggressive edge and can be utilized to enhance Return on Investment (ROI) considerably. It is the science that clears guesswork out of the decision-making process and applies proven experimental rules to discover the right solution in the shortest time possible. For more information about building a cloud-based data analytics solution, contact a Relus Big Data Expert today!