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With every passing day, we are moving towards a data driven world. The ability of enterprises to store, manage, analyze, manipulate and leverage data can mean the difference between staying in business, and fading into the competition.

Therefore, enterprises need to be super vigilant about whether they are collecting any data, and if so, what is the accuracy and relevance of that data with the business model of the enterprise. These are issues that will dominate in the near future.

Millions of organizations across the globe are clawing their way back from a crippling pandemic. Every company is going the extra mile to retain existing customers, and attract new ones to bring in “fresh blood” into the organization in the form of more revenue.

How Does the Cloud Enable Analysis and Forecasting from Data Sets?

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The Challenges Surrounding Data

Data is a huge challenge in itself. The sheer scale at which data is being generated right now is mind boggling. Unless an enterprise has an elaborate plan around how it will manage this vast amounts of data, chances are that this valuable resource (data) will go to waste.

In most cases, data has a certain “useful life” attached to it. If an enterprise misses out on that “window of opportunity”, all the resources expended on manipulating that data have been to no good use.

Two of the biggest challenges around data management are storage and processing. No matter how much storage you procure on-premise, you will find that it has run out, way before its intended life cycle.

As a result, you are again drawn into the vicious cycle of constantly beefing up on-premise data capacity, while also having to maintain the existing data storage resources. This is a daunting challenge, one that involves both capital and revenue expenses.

The other challenge around data management is of course, processing such vast amounts of data. In order to draw actionable insights from data, enterprises literally need huge data sets. Most of these vast data sets cannot be analyzed by on-premise IT resources.

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How Does the Cloud Mitigate Data Storage Challenges?

Leading Cloud Service Providers (CSP) like dinCloud offer enterprises access to nearly limitless data storage over their state of the art data centers. The two biggest advantages of cloud storage are instant scalability and a strong security that comes built in.

As soon as your data storage needs rise or fall, the readily scalable cloud infrastructure of your CSP will adjust to your needs, resulting in both cost and resource optimization. The other emerging challenge right now for enterprises is data security.

In the wake of ever increasing cyber threats and a lack of in-house expertise in the field of cyber security, enterprises often become a victim of data breaches. Over the Cloud, you get top notch, multi layered security built it, at least in the case of leading CSP dinCloud.

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Data Processing Made Easy by the Cloud

The other area where most enterprises really struggle is processing vast chunks of data, all at the same time. In most cases, it is an either or dilemma for the enterprises which process it just on-premise. They can either store data, or process it, at any one point in time.

Over the Cloud however, this is no longer a limitation. The super fast and high performance data centers of leading cloud providers like dinCloud make short work of even large volumes of data. This eliminates the need for enterprises to have on site storage.

Modeling and Forecasting

After heaps and heaps of data have been sorted, then begins the daunting challenge of designing forecasts and models for future trends. These forecasts give businesses a sense of direction for what the future might look like, and how to plan for it beforehand.

The more relevant, bigger and accurately modeled your data set, the better your chances of outperforming your competitors in the market. Nowadays, what matters more is how you can do something better than how your competition is doing.

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The vast and nearly limitless data storage as well as processing muscle offered by the Cloud is a great resource for cash starved businesses, especially in the backdrop of a crippling global pandemic that is constantly seeing corporate budgets shrink to new lows.

Contact dinCloud for data storage and processing infrastructure in the Cloud that is secure, reliable and readily scalable.