More than eight out of ten businesses think business analytics are important for their business strategy, and 70% of companies think cloud is a key part of their analytics strategy, research by Informatica has revealed.
The company asked businesses about their attitude towards cloud-powered business analytics, with the results showing that the platform (public, private or hybrid cloud) is now becoming as important as the technology itself.
Using the cloud for analytics is important for nearly 92% of organizations, while 70% said it’s of key importance. Almost two-thirds of businesses are using hybrid and public cloud services to power their analytics strategy, accounting for more than half of all business apps used for data analytics.
Informatica said that moving data away from on-premise solutions takes longer, hence why companies are adopting hybrid approaches.
Mobile analytics is also a growing trend, with 83.1% of companies using the technology in their workplace, compared to systems only available on desktop.
Although the main reasons organizations adopt cloud-powered business analytics are improving business processes and customer experience and for better collaboration, R&D, better analytics delivery and reducing capital expenditure are also important reasons for companies to use the cloud for their analytics activities.
Reducing costs (19.5%), data security (15.1%) and collaboration (14.4%) are the top three technical factors driving cloud analytics adoption, while cost of implementation (47.6%), reduced cost of use (30.8%) and CAPEX/OPEX savings (21.3%) are the top three financial drivers enabling cloud analytics.
However, Informatica’s research revealed security and compliance (40%) and integration and migration (34.6%) are the top obstacles getting in the way of companies implementing cloud-based business analytics.