Business enterprises across the world have figured out two key pathways to success. These critical factors are technology innovation and certain ways to adopt it. A recent technology paradigm falling in this radar is cloud computing. This medium enables the sharing of services in a seamless manner through cost-effective methods.
On the other hand, business intelligence (BI) is implemented to understand critical corporate insights from an organisational perspective. In order to achieve the same, enterprises have begun to leverage BI in sync with current data analytic applications on the cloud. As a result of this merger, huge data sets can be processed and cost effective support for scalability can be obtained. This can be summed up as business centric cloud analytics.
Utility computing and data analysis
Internet and reduced storage memory cost have been able to erase information storage criticalities. But this data is generally present in a dispersed format. The challenge arising here is data analysis because information is being generated at a break-neck speed every second. Despite the deployment of huge dedicated servers, the problem did not get solved. That is why companies are now looking forward to cloud computing which is not only feasible, but also guarantees seamless computational power and unlimited storage space. Such a model is called ‘utility computing’ because it involves a ‘pay-per-use’ billing model.
Hence, it is clear that cloud computing paradigm is a critical technological opportunity. It has enabled analytics in the cloud environment as a result of which BI has become affordable for organisations across the globe. This emerging computing paradigm has time and again been innovated to deploy overtly cost effective solutions on the internet. The resources supplied are dynamically scalable, because they are built upon SOA (service oriented architecture) to enable a scalable service delivery platform. At the same time, these resources are often virtualised so that businesses can leverage them as a service over the internet.