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Global Cloud Analytics Platform IndustryMarket Overview
With the advent of technology, organisations started transforming their processes and shifting to digital in every aspect of business, including customer relationship management, sales and marketing, human resources, operations, accounting, and finance, to name a few. This shift has led to the generation of colossal amounts of data, which when processed and analysed properly, can provide extremely valuable insights into the business. Many organisations are already leveraging such data to gain a competitive edge over their rivals in the market. Cloud analytics platforms are thus gaining prominence due to the capabilities they provide, like advanced visualisations, personalised dashboards, data discovery, data integration, search interfaces, data mining, predictive analytics, machine learning, and so on.
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Cloud analytics is implementing the components of analytics in the cloud. It involves moving the storage and processing and analysis of big data from the company premises to the cloud. Setting up in-house solutions for data analytics would involve the cost of the raw computing power required for analytics, equipment like servers for storage, and skilled experts for set-up, maintenance, and continual upgrades. Such an in-house solution would prove to be too expensive for most organisations and it would also not provide the required flexibility and scalability as per the future needs of the business.
A cloud analytics platform provides an economical solution to organisations for implementing business intelligence endeavours. One or more of the components of analytics – which includes data sources, data model, processing application, computing power, analytic model, and data sharing or storage – are migrated to the Cloud. An analytics platform is a scalable model due to economies of scale. Consolidation of data from many sources in the organisation to one place makes access by internal and external stakeholders smoother and less difficult. Access can be controlled with the right governance policies. Collaboration and sharing of data become convenient and easy.
The key players covered in this study BDB, Centilytics, CenturyLink, Certero, Chartio, ClearStory Data, Cloudability, Cloudyn, Adamalthus, GoodData, Keboola, Nutanix, Oracle, SAP, Performance Canvas, SoftwareONESegmentation
By type of Cloud
Public Cloud
Private Cloud
Hybrid Cloud
By components on the cloud
Fully on the cloud: All the components of analytics from storage to processing and analysis are located on the Cloud.
Hybrid (Cloud-based data storage): Only storage is located on the Cloud.
Hybrid (Cloud-based analytics): Storage of data is done on-premises; analytics is accessed from the Cloud.
By Industry
Segmentation of cloud analytics can be done by end-use such as e-commerce, manufacturing, banking and financial services, technology, media and entertainment, retail, healthcare and life sciences, logistics and warehousing, real estate, etc.
By Platform
Software as a Service (SaaS): Cloud analytics can be offered as an end-to-end package in the SaaS model.
Platform as a Service (PaaS): The PaaS model provides the backend software platform on which an organisation can build its own analytics models.
Regional Overview
Regional segmentation can be split into the Americas, Europe, the Middle East and North Africa (MENA), and Asia Pacific (APAC). High-income countries are leading the adoption of analytics. The USA and Canada in the Americas region and UK, France, Germany, Sweden, Norway and Finland in the Europe region are more well-established markets than the rest of the world. East Asian countries like Japan and South Korea also demonstrate high rates of adoption among the APAC countries, while countries like India and China are emerging markets. Middle Eastern countries like UAE and Saudi Arabia can also prove to be robust markets in the future.
Industry News
UP42, the defence and space subsidiary of Airbus, recently launched its geospatial data analysis platform for commercial use. Sisu, a data analytics platform start-up by a Stanford professor, was reported to have raised $52.5 million in Series-B funding. A few weeks preceding that, the analytics platform Tableau was acquired by SalesForce, while Looker was acquired by Google.
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