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How the Cloud Helps Companies Leverage the Power of Their Data

How the Cloud Helps Companies Leverage the Power of Their Data

  • 25.03.2025 20:49
  • biztechmagazine.com
  • Keywords: No companies found

Cloud-based analytics tools help companies unlock insights from their data, enhancing decision-making and efficiency. By using platforms like Google Cloud and Microsoft Power BI, businesses process large datasets faster, improve client experiences, and drive innovation across industries.

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Estimated market influence

Context

Analysis of How the Cloud Helps Companies Leverage Data

Key Facts and Data Points

  • Data Utilization: Only 30% of available data is currently used for analytics (Forrester).
  • CME Group Insights:
    • Processes over 1 billion daily market messages across four exchanges.
    • Uses Google Cloud tools like BigQuery and Pub/Sub.
    • Doubled the number of customers consuming data since 2023.
  • ICG (Industrialized Construction Group):
    • Employs Microsoft PowerBI for data visualization in construction industry assessments.
    • Combines QuickBooks with PowerBI for internal analytics.
  • GearTrack:
    • Processes 2 million sensor messages per hour (~8 TB/day).
    • Utilizes Google Cloud services: Pub/Sub, Dataflow, BigQuery, and Dataform.
    • Achieved an 88% reduction in internal data analytics request turnaround time.

Market Trends and Business Impact

  • Shift to Cloud-Native Solutions: Companies are increasingly adopting cloud-based tools for efficient data processing and analysis. CME Group highlights the importance of cloud-native partnerships for faster product delivery and new client acquisition.
  • Data Democratization: Tools like PowerBI enable broader access to insights, empowering non-technical users to make informed decisions in industries like construction.
  • Real-Time Analytics: The use of Pub/Sub by GearTrack underscores the growing demand for real-time data processing in supply chain management.

Competitive Dynamics

  • Strategic Partnerships: Companies are forming strategic partnerships with cloud providers (e.g., Google Cloud and Microsoft) to gain a competitive edge. CME Group’s partnership has allowed them to tap into new client segments.
  • Efficiency Gains: Organizations leveraging cloud tools report significant improvements in operational efficiency, such as GearTrack’s reduction in analytics request time.

Long-Term Effects and Regulatory Considerations

  • Scalability and Innovation: Cloud-based solutions provide scalability and foster innovation by enabling rapid prototyping and deployment of new products/services.
  • Regulatory Compliance: While not explicitly detailed, the secure access to data through tools like BigQuery suggests compliance with regulatory requirements for data handling.

Strategic Considerations

  • Investment in Analytics Tools: Organizations should prioritize investments in cloud-based analytics tools to unlock untapped data potential and drive business growth.
  • Focus on Customer-Centric Innovations: Companies like CME Group and GearTrack are focusing on client-centric innovations, leveraging cloud capabilities to deliver tailored solutions.

Conclusion

The adoption of cloud-based analytics tools is transforming how businesses leverage their data. By enabling real-time processing, enhancing decision-making through visualization, and fostering innovation, these tools are driving significant business impacts across industries. Companies that embrace cloud-native solutions are better positioned to compete in the evolving market landscape.