Approach to Cloud Technologies and Big Data Can Impact Financial Outcomes


big dataOver the last two years, proponents of big data have expounded on its benefits and the opportunities it presents to improve operations. A key component of this increased access and analysis of information is cloud computing. But business leaders must understand that large volumes of data being collected and reported on, as well as web-based servers, offer more than just up-to-date statistics and greater accessibility.

Data streams that are properly analyzed and shared with clients, partners and peers can be applied throughout an enterprise, making a difference in decision making and enhancing the flexibility needed to adapt to changing market conditions. 

The more analysis data undergoes, the more beneficial it can be to decision makers, clients and partners enterprise-wide. Sharing information between users enhances collaboration without taking away resources or value from either party. InformationWeek reports that through business integration solutions, companies can create external ecosystems that process and distribute information from a variety of sources to map out trends and behaviors key to growth.

Get competitive
While focusing on the power of file-sharing solutions and business integration technology, it is hard to ignore the growing popularity of cloud computing platforms being adopted in all industries. Companies are using cloud-based solutions to enhance communication, access to information and data updates to keep all workers and partners connected and operating with the same tools. While it may seem like cloud computing is a complex technology that is not suitable for all industries, the collaborative platform model has demonstrated value in a variety of settings, and is capable of escalating many standard IT services such as data storage, backup, file sharing and communications.

In a blog piece for RGJ, cloud computing expert Steve Cerocke explained the adoption rate of cloud computing technology is set to explode worldwide in the near future, as traditional office spaces are being upgraded to mobile-friendly technology hubs that connect disparate workers and locations. Many IT functions are no longer tackled in-house, but moved to a cloud-based platform so providers can maintain networks, software, storage and hardware from convenient locations.

While there are a large variety of options to choose from when selecting cloud-based solutions to support business integration technology and file-sharing applications, certain aspects of the products will help translate the investment into a competitive advantage:

  • Security: Many remote vendors offer physical securities, data protection and shields from network threats to ensure information in the cloud is safe. Leveraging these options will mitigate costly breaches or delays.
  • Availability: IT service providers operating from the cloud have access to information at all times, allowing for faster fixes to common problems that reduce costs associated with business disruption or lost sales.
  • Business continuity: When disaster strikes, cloud-based services get file-sharing and integration capabilities up and running faster to strengthen recovery strategies and reduce the risk of data loss or business interruption.

The modern global marketplace is growing and evolving each day, as new players enter the scene and disrupt business as usual. With increasing regulatory demands and standards expectations facing most enterprises, there is a significant need for technology services and solutions to achieve compliance and cost-efficiency to acquire or maintain a competitive edge and grow profits. It seems the answer lies with embracing cloud computing and big data.

However, the approach that companies take to adopt and use these services and solutions can also have an impact on financial outcomes. As such, it is vital to work through cloud-based options with research and expert guidance to ensure the technology will properly optimize resources available.

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