It’s been ten years since investors, analysts, and executives from all over the world agreed that the future is digital. Today, with digital transformation at its peak, it is clear that the future of digital transformation is going to be driven by data.
In their rush to harness the power of data, companies are exponentially increasing their investment in cloud analytics to gain a competitive advantage and stay ahead of the competition. The analytics industry emerged as one of the fastest growing and most dynamic sectors in the global economy.
But there is a paradox. According to an HBR 2019 report, while data grows 400% (from 44 ZB of data collected worldwide in 2020, to 175 ZB of data collected in 2025), less than 30% gets analyzed. Also, 55% of organization categorize data silos and data management difficulties as roadblocks.
Thus, it is imperative for executives to find the best tools and solutions which can break such silos and generate actionable insights at scale with accuracy. The need of the hour is to leverage tools which enables ingestion to transformation to consumption on same platform and have the power of elasticity of cloud.
Why Companies Should Invest in Cloud Analytics in 2021?
Data is only as good as it is used to propel your business, which can only be done with the right set of tools and generate the least strain on infrastructure and data management. High infrastructure costs are avoided with cloud-based analytics platforms, as they enable elastic scaling and provide world-class performance to all users.
Cloud platforms allow organization to build collaboration at scale and transform file-sharing across multiple users at ease, making iterating designs and handling diverse data more efficient. Data can be put to use through new age cloud-native and 3rd party tools, which help companies:
Scale POC to a fully fledge enterprise grade solution
Track progress and make relevant edits
Ease development and production
Give clear visibility and management of costs
Democratizes the development process
An HBR study from 2019 found that Analytics and AI are the top investment priorities for leaders that want to maximize their ROI. New generation cloud platforms are at the forefront of driving that ROI by enabling users to build a unified view of their data to drive actionable insights.
When Should a Company Upgrade its Analytics Implementation?
Before committing to a specific ecosystem or a particular tool, companies should first assess their current standing and the existing analytics implementation (if any). The best time to revamp your infrastructure is while planning or designing the digital transformation.
A few triggers that indicate the need for an upgrade are as follows:
The existing toolset is no longer able to decipher data and provide the proper insights
The existing infrastructure can’t scale from POC to production grade
Time from deployment to production is not satisfactory for the business
The current implementation can’t improve the quality of data
The existing tools are expensive and have not evolved with time
The rise in available cloud analytics tools and solutions allow companies the freedom to choose what matches their business use cases and gives clear visibility on future cost.
Here are a few key areas to look for while upgrading analytics platform:
Keep the consumption pattern in mind
Prioritize data domains as per business use cases
Compare the legacy costs with the new platform costs (total cost of ownership)
Enable self-service and democratize the consumption
Keep change management in mind and plan early adopters from the start
In between all these clear benefits of cloud adoption, there are few pitfalls as well. Recent studies show that each new technology creates another siloed operation.
Analysts and engineers from all over the world are now interacting with more technologies than ever before, which are rapidly changing, making it increasingly difficult to keep up with. Unfortunately, data is not collected identically across multiple platforms, hence importing data from one tool or solution to another may prove to be challenging.
This is the reason why companies such as Microsoft created ecosystems, such as Azure Synapse Analytics, to simplify the execution of work for users.
How Azure Synapse Analytics is solving this paradox?
Azure Synapse empowers every persona and stakeholder in the organization to deliver the full continuum of analytics in a single service. Azure Synapse is the only unified platform for analytics, blending big data, data warehousing, and data integration into a single cloud native service for end-to-end analytics at cloud scale.
This service allows users to ingest data from multiple sources, while also keeping storage separate from compute. Analysts can have access to a dedicated SQL pool for storage and PowerBI for visualization while being able to leverage Databricks for transformation.
Some keys features provided by Azure Synapse include:
Comprehensive security and compliance
Streamlined data integration
Flexible data warehousing
Real-time operational analytics
Integrated machine learning
Integrated Power BI to view reports with a single pane of glass
Analytics solutions are extremely powerful tools to have in the pipeline of any organization. By focusing on a long-term strategies and analytics implementation, with partners such as Microsoft, companies can easily scale and expand without the fear of piling up costs or redundancies. Every organization should analyze their current standing, estimate their upcoming needs, and start investing in their future by upgrading the infrastructure
As a Senior Analytics Manager at Brillio, Prakash brings 12+ years of analytics consulting and execution experience managing large client engagements focusing on building strategic data platforms and ML use cases to drive business growth.