A majority of the organizations expected to run 100% of their analytics in public cloud by 2023, as per a new report “The State of Analytics in the Cloud” by Teradata.
Teradata, the leading cloud-based data and analytics company, surveyed senior technology leaders at 700 organizations worldwide to find the state of analytics in the cloud.
The use of cloud among the enterprises has become very important in today’s tech world. The cloud not only helps enterprises to create new revenue opportunities, but also makes it easier to implement new business services.
- Cloud is the best place to run analytics
35% of the respondents were using public cloud across their whole organizations, while 39% were using it in some areas of the organization. The organizations liked their experience with the cloud, with 92% of them saying that they were somewhat or very successful with the use of public cloud.
Although 83% of the organizations cited cloud as the best place to run analytics, but most of them were concerned about slow pace of analytics adoption in cloud. The respondents said that analytics were moving to cloud slower than other business applications.
- Barriers in moving analytics to cloud
According to the report, security (50%) was the biggest barrier in moving analytics to cloud, followed by immature and low-performing technology (49%), regulatory compliance (35%), and lack of trust (32%).
The organizations were also concerned about connecting legacy systems with cloud applications (30%), and lack of in-house skills (29%).
“The results are clear: the market is marching toward cloud analytics, but so many of today’s cloud-only analytic engines lack the power or speed to handle enterprise-scale analytic workloads,” said Martyn Etherington, Chief Marketing Officer at Teradata. “In fact, the performance gap for analytics at scale in the cloud gets even larger for the biggest companies.”
- Expected benefits of moving analytics to cloud
The organizations expected multiple benefits of moving analytics to cloud, with 51% expecting faster deployment, improved security (46%), better performance (44%), and faster insight into data (44%).
The other benefits of analytics in cloud included easier access by users (43%), cheaper maintenance (41%), easier access to analytics technologies (35%), and direct access to cloud data stores (33%).
According to the report, one-in-three large organizations were using deep learning and machine learning technologies to gain maturity at analytics front. 68% of the companies expected to adopt these technologies in next 12 months.
Around 50% of organizations were already doing data visualization and data mining, and this number is expected to reach 75% in next 12 months.
The main use-cases of analytics included customer service, marketing, and sales. 81% of the organizations considered analytics for customer service a priority and expected to use it in next 12 months.
The analytics for marketing and sales will be used by 77% and 76% organizations, respectively in coming year.
The survey was conducted in March and April 2018, and the respondents belonged to organizations with 1000 or more employees.
Images source: Teradata