How Do Modern Cloud Computing Techniques Empower Business Analytics?

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Cloud’s implications in the business intelligence marketplace have resulted in the massive popularity of online business analytics courses in Bangalore. Today, Business Intelligence professionals prefer to hone their skills around the latest trends in cloud computing and embedded analytics that ensure overwhelming success in the short and long term.

Cloud Computing is Essential to Business Analytics 

The world of Cloud computing has emerged as the fast growing destination for businesses looking to transform their various operations digitally. The competition in the digital transformation environment is heating up around the newer trends related to Agile workflow management, AI based software development, and data-driven analytics. The organizations that are leading in this race to become digitally transformed entities have one thing in common. 

What’s that common string that binds them together? Cloud based business analytics. The advent of Big Data intelligence and a more refined approach to include machine learning algorithms to infuse actionable insights into the business analytics software have helped BI teams to evolve rapidly. 

And, this rapid evolution was the reason why many top tier organizations managed to stay competitive and sustainable even during the peak of the COVID-19 pandemic that caused others to shut down and disappear without a trace! 

BI’s Success is measured in the Ability to Monetize Data

Data monetization is a newly coined terminology that has caught the attention of capitalist economists who now think that the world’s dominant forces rule the global economy by virtue of their ability to collect, analyze and re-engineer data for monetary benefits. There is no exact definition for data monetization because every organization has its own business analytics requirements that are essentially structured to process and utilize data to obtain meaningful and actionable insights for economic outcomes.

For Netflix, this data could be related to subscribers’ choice of channels and subscription frequencies. For Amazon E-commerce, this data could be identified with merchant’s payments options, warehouse management, inventory logistics, and other customer and market related trends. For a sports broadcasting company like ESPN or SKY SPORTS, the data could be TV audience and viewership analytics.

How do organizations turn these data points into useful insights as part of data monetization?

They use business analytics using embedded analytics software, which is the foundational principle for the creation of data driven culture within and outside the company, involving customers, vendors, investors, and business partners who steer the company towards successful migration to a Cloud environment for digital transformation. Data monetization could help customers retain better insights from all possible data sources such as call centers, email tools, website landing pages, chatbot messaging desks, CRMs, and Customer data management and Data management platforms (DMPs), which have already changed the way Marketing, Sales, Digital advertising and online customer service teams function using a plethora of BI and Business analytics tools provided for different purposes, but integrated as one established channel to provide single point truth on marketing analytics, sales forecasting, financial health and IT risks management and assessment.

For BI Applications, Can Everything Be Accessed on Cloud?

According to the latest market research studies on the role of Cloud hosted business analytics applications, business leaders are increasingly looking to outgrow and reinvest in newer, more intuitive business intelligence platforms that are powered by Artificial Intelligence, Embedded Analytics, and Automation capabilities. The possibility of having all the world class next generation AI and automation tools may not have been possible back in the olden days, but now, since 2019, there has been a sporadic growth in the cloud hosted BI applications software companies that promise to deliver all the latest tools and analytics under one single roof, thanks to their enterprise grade Cloud environment. 

The benefit of having to lay hands on Cloud hosted Business intelligence tools is easy accessibility, superior product experience, quicker troubleshooting, and faster computing driven by data monetization principles that result in better economic outcomes for the users and investors.

The cloud computing technology is a never-ending saga, and every company that you could possibly think of, such as Google, Salesforce, Dropbox, Adobe, Zoom, Microsoft, IBM, Oracle, and others, have all found their holy grail in turning to business analytics delivered and serviced on Cloud.

Business analytics courses in Bangalore offer a staggering opportunity to all talented professionals looking to excel with Cloud computing skills specifically acquired for the data science industry. If you ask what’s next in the business analytics cloud marketplace, well, the sky is the limit, and from a career perspective, data monetization is the lynchpin here.