It has become so significantly important these in the tech world to be a cloud troupe. Cloud Computing helps the organization to create new revenue opportunities and to implement new business services much faster. Although, a majority of the largest companies in the world (83 percent) agree that the cloud is the best place to run analytics, according to the new survey by Vanson Bourne on behalf of Teradata.
In the coming years, most organizations want to run all of their analytics in the cloud. But it was further found that almost all the organization say that analytics should be moving to the public cloud at a faster rate.
According to the survey, 50 percent of the respondents believe that some of the biggest barriers to moving analytics to the cloud are security while the other 49 percent say that the reason is the immature and low-performing available technology. The regulatory compliance was opted by the 35 percent and lack of trust (32 percent).
Other concerns center on technology integration and talent: 30 percent are struggling to connect legacy systems with cloud applications, while 29 percent of respondents cited lack of in-house skill as a major barrier.
“The results are clear: the market is marching toward cloud analytics, but so many of today’s cloud-only analytic engines lack the power or speed to handle enterprise-scale analytic workloads,” said Martyn Etherington, Chief Marketing Officer at Teradata. “In fact, the performance gap for analytics at scale in the cloud gets even larger for the biggest companies. According to the survey, 63 percent of companies with revenues more than $10 billion view immature and low-performing available technology as a major barrier, compared to 41 percent of companies with revenues of $250-500 million. Given this concern, it’s easy to see why Teradata stands out for its sophisticated cloud analytic environments capable of handling hundreds of terabytes and thousands of users running millions of queries per day.”
The survey found that large organizations are maturing when it comes to their use of analytics, with one out of three using complex deep learning and machine learning to power artificial intelligence (AI). These companies are also experienced in using the cloud with one-third currently adopting public cloud across the whole organization. Unfortunately, the combination – moving to and using analytics in the cloud – is happening at a slower rate than other business applications and workloads.
Souma Das, Managing Director, Teradata India, said, “The government’s promotion of easy adoption of digital technologies is encouraging more and more businesses to invest in cloud and digital technologies. Nevertheless, India echoes a similar sentiment as the global organizations as the country witnessed a significant surge in the adoption of cloud analytics. The concerns by Indian enterprises mirror the global survey findings, with security remaining the top concern or inhibitor to move to cloud followed by lack of executive buy-in, in addition to lack of control as well as good connectivity being some of the reasons for the slow adoption of analytics in the cloud.
Adding to this he said, “In a survey conducted by Teradata in 2017, executives from top Indian organizations that were surveyed predicted that by 2019, they expected 62% of IT data, 60% of customer data and 50% of supplier data would reside in the cloud.”
The survey, titled “The State of Analytics in the Cloud,” polled senior technology leaders at 700 large, global organizations, with average global annual revenue of $9.73 billion (19 percent with revenue ranging to $50 billion).
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