Cloud analytics provide secure processing of big data, mobility, and collaboration
Enterprises need be aware of offerings by small analytics firms, not just the big boys
THE cloud analytics market is relatively niche in Asia Pacific, but as demand for optimisation and real-time data soars, enterprises across the region are integrating cloud analytics into their business models and fuelling growth in this new area.
Industries such as retail and financial services are expected to witness high returns from investment in predictive cloud analytics, especially with regards to forecasting trends in consumer spending and customer satisfaction, Frost & Sullivan said in a new report.
The report, titled The Case for Analytics in the Cloud, discusses the impact that predictive analytics will have on transforming the way companies plan their go-to-market strategies, the research and analyst firm said in a statement.
“Cloud analytics solutions offer a scalable platform that guarantees efficient utilisation of resources and quicker decision making, essential in industries such as banking and retail,” said Frost & Sullivan Information and Communication Technologies industry analyst Treepti Jaswal (pic).
As with most cloud services, the costs of deploying cloud analytics has been highlighted as a barrier to adoption, especially among smaller enterprises and in developing economies.
Another key challenge is the lack of understanding and awareness of cloud computing, especially in countries such as Indonesia, Vietnam and the Philippines, Frost & Sullivan said.
Security concerns are ubiquitous across enterprises of all sizes and all countries in the region when it comes to cloud services. With cloud analytics, enterprises worry that cloud providers may be privy to too much of their data.
This concern is especially relevant for public sector firms such as government bodies and educational institutes.
“Once enterprises recognise that the intersection between analytics and cloud technologies will create opportunities to process and use big data on a secure scale and ensure business growth, migration to cloud analytics will gather pace,” said Treepti.
“Public cloud for analytics will become the solution of choice for big data workloads,” she added.
It is important for enterprises to be aware of the offerings provided by small analytics firms in this field, instead of focusing solely on the portfolio of large companies.
Recently, startups have been garnering significant interest from venture capitalists, demonstrating their potential to compete with established competitors, Frost & Sullivan said.
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