Our world is becoming more and more digital, which generates an increasing amount of data. While most businesses concentrate on gathering, integrating, and analyzing their corporate data, the most creative businesses approach data in a far more comprehensive and all-encompassing way.
The innovators consider all data sources in one dimension and incorporate competitors, authorities, and influencers into their data universe. In a second dimension, they consider data produced by parties other than the enterprise, such as clients, staff, business partners, and suppliers. Finally, they consider all types of data, including text, sentiment, emotions, and structured, unstructured, and alphanumeric data.
The innovations of pioneers who are thinking in terms of "ecosystem data" are significantly more thorough, up to date, and correct. As a result, decision-making at all levels of management is influenced positively.
The problem is that traditional ERP, CRM, HRMS, service management, and even custom applications cannot capture this data or scale to run analytics in a field environment.
Cloud solutions offer many advantages over hardware configurations from on-premises data. Migrating from on-premises data centers to the cloud or cloud repository has many advantages:
Ecosystem data can amount to petabytes, and on-premise data warehouses have limited computational power, which is necessary for handling enormous amounts of data. Companies are forced to upgrade or add capacity whenever an on-premises server approaches its capacity limit, which causes processing downtime.
Through the use of shared computer resources, cloud platforms provide practically limitless scalability. Continuous analysis of very large volumes of data is possible because to the ability to easily provision extra vCPUs, RAM, or storage space as needed.
Resource-based billing models are used by contemporary cloud hosting platforms to reduce operating expenses. This implies that switching to the cloud will result in long-term cost savings because you will only be charged for the computer resources you really use. With a variety of storage alternatives available, including SSD, HDD, and tape-based storage systems, depending on the platform you select, you may keep the cost of keeping datasets with occasional access to a minimum.
Cloud solutions remove the need for infrastructure maintenance in addition to resource-based invoicing, freeing up IT personnel time to work on development rather than tedious infrastructure administration activities. As a result, there are indirect cost reductions since human resources are used more effectively than they would be under an on-premise data warehousing strategy.
In particular when utilizing conventional data warehousing technologies, automating on-premise data backups can be time-consuming and difficult. In order to enable backups in the first place, enormous quantities of hard drive capacity are required, which raises hardware expenses.
You can achieve recovery point objectives (RPOs) and recovery time objectives (RTOs) by using backup replication and scheduled backups that are provided by all major cloud platforms' built-in disaster recovery features. Older backups can be moved to slower (and frequently less expensive) archive storage options in the cloud, which will help you save even more money on disaster recovery operations. To further improve network resilience, you can make use of third-party multi-cloud replication-as-a-service solutions.
Stigasoft is skilled in assisting clients in the decision-making process so they can select the option that will work best for your business.