The most recent data from Statista indicates that more than 60% of corporate data is now in the cloud. Unfortunately, many organizations migrated their data to the cloud, assuming existing data management practices would transfer. Businesses need to deploy cloud-specific data management strategies if they want to maximize the benefits of cloud migration.
What is Cloud Data Management?
Cloud data management means leveraging a cloud-based app or other approach to manage data. Although managing data on-premise or in the cloud share characteristics, they differ in the following ways:
- Control. On-premise data storage provides the most control over data.
- Cost. The cloud does not require an investment in hardware and software to create an infrastructure for an on-premise data storage facility.
- Maintenance. Cloud providers usually include maintenance as part of their monthly fee.
- Accessibility. Data in the cloud becomes accessible to anyone having an internet connection. However, a lost connection means no data access.
- Scalability. On-premise management requires hardware and software to increase the infrastructure and support more data. Increased storage is available in minutes.
Organizations move to the cloud because of infrastructure flexibility and lower hardware and software costs. The lack of data control is one reason why they keep data on the premises.
Why Choose Cloud Data Management?
Cloud solutions have increased capacity for faster data processing. They can make data collection, processing, and distribution run more smoothly, especially with large datasets. Some benefits of Power BI data management are improved agility, better insights, and greater flexibility.
Agility
Agility in the cloud often refers to the ability to develop, test, and release new business ideas quickly, but the cloud also makes a company’s data use more agile. Cloud-based storage is more flexible. As data volumes increase, organizations will need more space to store and manipulate data. Adjustments in cloud storage can happen in minutes, not days.
The cloud also provides access to more computing power. As datasets grow larger, they will need more CPU to deliver timely insights. These changes in computing power will increase as more users deploy more artificial intelligence (AI). AI and machine learning (ML) depend on volumes of data to produce accurate responses in real time.
Depending on the cloud providers, they may build data security requirements into the platform. They may have constructs in place that comply with consumer data or government information storage. Having data security and governance as part of the cloud infrastructure lets businesses focus on leveraging cloud agility.
Insights
Data points are just data points unless someone analyzes them. About 45% of businesses run at least one big data workload in the cloud. That’s only a small percentage, given that 67% of companies have moved their infrastructure to the cloud. Companies need cloud-based approaches, such as Power BI data management, that enable data consolidation and reporting.
Most organizations look for insights into operations. They want to improve production and decrease costs based on data. They might look at how to expedite invoicing to improve cash flow or analyze energy consumption to reduce utility costs. Few look at data for insights into personalized customer experiences.
As customer interactions become more personalized, organizations that lack data analytic capabilities will struggle to compete. According to the Harvard Business Review, buyers make 50% of all Amazon purchases based on personalized recommendations. The company uses its data stores to deliver customer-specific product suggestions. The results of their data insights? Amazon owns 40% of the ecommerce market. Its closest competitor is Walmart at 7%.
Flexibility
Suppose existing IT uses require continual attention to data-storage concerns. IT personnel constantly evaluate data requirements and spend hours removing data to free up more space. As a result, IT doesn’t have time to focus on meeting internal and external business needs such as data analysis and report generation. A simple glitch in the accounting system can take weeks to resolve if IT has to deal with data management.
Cloud-based material has increased bandwidth to make it easier to transmit volumes of data. IT doesn’t need to jump through hoops to get the right data in the right place for processing. With readily accessible data, employees can generate reports and analyze data to make data-driven decisions. No more waiting for IT or spending hours combing through spreadsheets.
Not only does the cloud provide flexibility for existing employees, but it can also widen your applicant pool for new hires. With cloud-accessible data, potential employees can work from anywhere. New hires are no longer restricted to a specific location.
Security
Security is often a reason to avoid the cloud. Organizations worry about keeping their data secure when they control where it is and how it’s accessed. They aren’t as comfortable when they share control. Today’s cloud providers have teams of security specialists who monitor the infrastructure, update software, and track usage.
Cloud providers, such as Amazon, Microsoft, and Google, encrypt data in transit and at rest. They will store data in multiple locations to minimize the risk of data loss. These providers are aware of regulatory requirements for protecting data, which takes some of the burdens away from a company’s IT. However, security is a shared responsibility, so businesses must be prepared to maintain their configurations and access control.
According to Checkpoint, a security company, 27% of companies had a cyber incident in the public cloud in the last year. However, 23% resulted from infrastructure misconfiguration, and 15% were because of improper data sharing. Both of these areas are the company’s responsibility and not the cloud provider’s. Only a small percentage, less than 30%, were due to compromises.
Power BI Data Management
Power BI consolidates data from multiple sources, including the cloud, to deliver insights for business improvements. If you’re looking for help consolidating your data sources and streamlining delivery, consider implementing PBRS.
Why not start your free 30-day trial today and see how PBRS can work for you?
