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Modernizing Data Analytics with Cloud-based Analytics Services

Modernizing Data Analytics with Cloud-based Analytics Services

Author: Prasanth Ramanikanth/Thursday, July 6, 2023/Categories: General

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Introduction:

Today, data is the most valued asset for businesses of every size, from small to large. Companies rely on data analytics to predict consumer behavior, envision market trends, and improve decision-making. As a result, companies reach their customers quicker and hassle-free.

Having said that, most companies leveraging data analytics fall short of getting the desired results. This is because they use legacy analytical tools that are not capable of handling modern-day data complexities. If you're also working with the same tools, you need to upgrade. You need to leverage cloud services for data analytics modernization.

In this article, we'll discuss what data analytics modernization is, the benefits of data modernization, and why use the cloud for data analytics modernization. Before getting into that, let's understand the challenges the legacy systems face.


Challenges faced by legacy analytical tools

  • Every day, people generate quintillion bytes of data. Legacy systems are not capable of handling such a volume of data. This volume of data is overwhelming for them to conduct a thorough analysis.
  • Data comes in heterogeneous formats, and legacy systems lack the ability to integrate them from multiple sources.
  • Legacy systems store data in different places, which prevents organizations from having a bird's eye view of the data.

What is data analytics modernization?

Data analytics modernization is the process of shifting traditional, legacy data systems to a modernized platform that is more efficient, flexible, and future-ready. By doing so, businesses keep pace with the ever-changing data landscape and get much value from the data.

By modernizing your existing legacy data systems, you can achieve three things. First, analytics modernization can help in handling and analyzing large volumes of information. Second, you can easily access information from anywhere. Third, it can seamlessly integrate different formats of data, from semi-structured, structured to unstructured data sets.


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Benefits of data modernization:

Data modernization offers several benefits to businesses. Here are a few of them:

  • Enhances data quality: Legacy systems have the tendency to give inconsistent and inaccurate results. Data modernization involves removing redundant, invalid, and erroneous data. With cleansed data, businesses can access high-quality and accurate information.
  • Boosts business growth: Data modernization provides accurate and up-to-date information to businesses. With valuable insights, businesses can make informed decisions that can ultimately lead to business growth. In addition to this, data modernization helps businesses automate tasks, resulting in improved operational efficiency. That's not all; data modernization improves customer service. It helps businesses to understand their customers and market better. As a result, businesses can provide services tailored to the needs of the customers. This leads to customer satisfaction.

  • Overall, data modernization can be a powerful tool to enhance business growth.

  • Provides easy access to data: For better decision-making, the data has to be available to all the stakeholders across the value chain. Data modernization brings data from multiple sources to a single platform. By doing so, stakeholders can seamlessly interact with data and make decisions that are in the interest of the business. Plus, it enables stakeholders to access data easily from anywhere at any time.
  • Offers state-of-the-art analytical tools: Data modernization offers state-of-the-art analytical tools, such as machine learning and AI. They help businesses to analyze data and get valuable insights. With such insights, businesses can make informed decisions.
  • Gives access to dependable databases: Data modernization offers databases where large volumes of data can be stored in a format that is easily accessible.
  • Modern data systems are agile: Unlike legacy systems, modern data systems are agile. This means businesses, with the help of modern data systems, can easily and quickly meet the changing market and customer needs.

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Why is the cloud an ideal platform for data modernization?

The cloud has become an important player in modernizing data. It provides a flexible and future-ready platform that assists businesses in easily storing, managing, and analyzing data. Here are some compelling reasons why businesses need to migrate their existing legacy data systems to the cloud:


  • Cloud is cost-effective. On-premise data centers and traditional IT infrastructure comes with cost concerns. On-premise data systems require significant investment in terms of maintenance, hardware, software, and security. On the other hand, the cloud is a pay-as-you-go model where you can pay for the services that you only require.
  • Migrating to the cloud enables businesses to centralize data in a single location. Data at a single location means easy to ingest and analyze data.
  • Migrating to the cloud means getting access to modern data infrastructure like cloud data warehouses that can store and manage heaps of data and can help businesses in providing valuable insights. Plus, the cloud gives access to advanced analytical tools like machine learning and AI, which help in extracting valuable insights from the data. In addition to storage and analytics, the cloud offers a wide range of applications to perform data-related work like object storage, virtual machines, managed Kubernetes, etc.
  • Cloud architecture enables businesses to leverage elasticity. This means businesses can grow or shrink infrastructure resources according to the ever-changing data landscape. When executed properly, businesses can save costs on infrastructure.
  • Cloud architecture offers automated data pipelines where data moves quickly across applications and systems, providing real-time data and performance insights to the leadership.
  • The cloud offers security features that protect businesses from data misuse and data breach.

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In conclusion

Leveraging legacy systems to perform data analytics doesn't keep businesses competitive in today's data-driven marketplace. These systems are inefficient, inflexible, and are unable to meet the demands of the ever-changing data landscape. Modernizing data analytics is the need of the hour.

Data modernization helps businesses meet the ever-changing data landscape. It helps businesses source relevant data, perform accurate analysis, and deliver solutions that meet customer needs. The best way to modernize data is by leveraging cloud services. Cloud provides a flexible and scalable platform, making it easier for businesses to store, ingest, and analyze data.

If you're looking to move your existing legacy data systems to a modernized platform like the cloud, Cloud Assert can help. Cloud Assert can onboard your existing legacy data systems to the cloud seamlessly and hassle-free.

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