This article is sponsored by CloudMoyo – Partner of choice for solutions at the intersection of Cloud & Analytics.
The Big Data revolution has transformed organizations across the globe irrespective of the industry, but not every business can afford to harness this emerging area due to high infrastructure costs & skilled personnel. However, Cloud services provide a new option. Companies can purchase remote Cloud computing on demand, without the expense of setting up their own systems. This has opened up Big Data to businesses small and large.
Presently, two IT initiatives currently top of mind for businesses globally- big data analytics and cloud computing. Big data analytics offers the promise of providing valuable insights that can create competitive advantage, spark new innovations, and drive increased revenues. Cloud computing has the potential to enhance business agility and productivity while enabling greater efficiencies and reducing costs. For example, organizations that already support an internal private cloud environment can add big data analytics to their in-house offerings, use a cloud services provider, or build a hybrid cloud that protects certain sensitive data in a private cloud, but takes advantage of valuable external data sources and applications provided in public clouds.
Analytics-as-a-Service
The cloud offers the ability to use machine learning effectively, to scale up as much and as quickly as you need, analyze the next best action and then when the analysis is effectively completed, you can just shut it down. This approach is a marked change from an on premise analytic system which takes time to build and make operational and then, due to the capital outlay, needs to be re-used over and over again. This is what is now termed as Analytics-as-a-Service (AaaS).
Manish Kedia, CEO and President, CloudMoyo, says, Enterprises need to transform for digital multichannel engagement to deliver next-generation experience to consumers. In order to thrive in this new age of consumer engagement and high-velocity data, modern enterprises must adopt solutions that combine the scale of cloud with the power of data-driven insights.
CloudMoyo is a technology company that delivers solutions at the intersection of cloud & big data. The company defines the challenge of an analytics strategy as relating business goals and use-cases with how analytics will support employees and the business. Analytics is creating differentiation for modern day businesses by giving greater, more actionable insights. Manish says, Increased collaborators, partners, regulatory scrutiny, growing variety, volume and speed of data provide new opportunities for insight, while increasing risk, cost and complexity. Our Cloud Analytics Framework can be leveraged to develop tools for any modern enterprise. CloudMoyo provides unique solutions that can be tailored specifically for any industry.
Putting Big Data to Work
An illustration of real-time big data being utilized effectively is the partnership between CloudMoyo and a major railroad in North America. It has over 150 trains running per day with an average of 420 crew members daily. Needless to say, its a massive transportation and logistics business. Through its work on this project and in close collaboration with the client, CloudMoyo was able to deliver a next-generation, cloud-native public transportation management system that addresses all the challenges of managing complex transit operations. The railroad operator was able to leverage CloudMoyos expertise in data analytics to harness insights from its real-time data that is cost effective and enables quicker time to deployment for the operators thereby leading to quicker ROI and takes advantage of mobility advancements.
CloudMoyo has used Azure enabled Image & Video processing engine integrated with Microsoft Kinect to deliver improved customer experience via video analytics for a top Auto manufacturer leading to Innovative OEM and Dealer Dashboard mobile app with insights product, customers demographics and preferences based on video data
The company also helped a major retail store chain having 110+ active retail stores across US, Canada, Australia, Puerto Rico to gain data-supported insights into its chain of retail stores (from products to geography to locations) and make informed strategic decisions.
In much the same way, CloudMoyo has developed proprietary algorithms to use real world data about patient health, pharma drugs etc. in order to understand how a disease impacts patients and their communities outside of controlled clinical trials.
Take Aways
The era of big data is well and truly upon us, and its no longer a question of whether enterprises should engage with big data, but how. Technology giant Cisco predicts that the amount of data produced in 2020 will be 50 times what it is today. No wonder then that companies feel overwhelmed and desperately in need of solid advice from specialists who understand their business and can combine it with technology to deliver results.
Traditional reporting & BI is giving way to Advanced Analytics. Its no longer enough to retro-actively analyze what happened and why. Instead, systems and partnerships need to be put in place which leverage high quality data and interpret the data to make predictions around what is likely to happen next, with concrete evidence to back up the claims.
Organizations can address business needs across the full range of analytics requirements with cloud-based AaaS from data delivery and management to data usage. By developing a comprehensive cloud-based big data strategy, they can define an insight framework and optimize the total value of enterprise data. However, cloud-based big data analytics is not a one size-fits-all solution and an expert IT partner like CloudMoyo can help you on this journey.
