As per the latest IDG survey, a large number of companies are planning to increase their investments in the cloud data warehouses and the data lakes in 2021. The survey also found that over the next six to twelve months, 77% of IT decision-makers intend to migrate to a cloud data warehouse, or expand an existing cloud data warehouse. Additionally, 57% of the companies surveyed, said that a hybrid option would be the data management strategy of choice for their enterprise. To be honest, it comes as no surprise to me that organizations of all sizes are pivoting to a cloud data warehouse. Given its multitude of benefits, it is the next frontier for companies as they embark on their digital transformation journeys. The adoption of the Cloud Data Warehouses has also been further fuelled by the uncertainty brought on by the pandemic, causing organizations to seek alternatives to legacy systems in a bid to achieve sustained and long-term business growth.
By strategically migrating their data and processes to the cloud, companies can effectively mitigate against failure while modernizing their IT capabilities. Establishing a scalable, secure and cost-efficient data warehouse has helped many businesses become more agile and maximize value from their digital transformation journey. Apart from the capital and operational cost savings, one of the key benefits of the cloud data warehouses is that it enables businesses to store large amounts of data sustainably and securely, while also providing access to real-time, actionable business insights. The Cloud Data Warehouse as it exists today, is indeed at the heart of the data analytics architecture that fuels enterprise growth.
Here I’d like to share a case about how we helped a specialty US retailer modernize their data platform, which helped the business make real-time decisions while also leveraging prescriptive analytics. In this case, the retailer wanted to discover the true value of data being generated from its multiple systems and understand the patterns, both known and unknown, of sales, operations and omni-channel retail performance. We helped them by building a modern data solution which consolidated their data in a data lake and data warehouse, making it easier to extract value in real time. We integrated our solution with their OMS, CRM, Google Analytics, Salesforce and their inventory managements system. We also had the data Machine Learning-ready, so that it could be easily leveraged in the future. The result was absolutely amazing! Our client now has visibility into their data from day one, something they had been wanting for a while. In addition to this, they were also able to build better reports, dashboards and charts to understand and interpret the data – true actionable insights. The icing on the cake was the ability to get real-time visibility and analysis on instore purchases based on multiple slice and dice options! We helped our client consolidate the data from disparate systems and get visibility of all the data from a single source of truth – which ultimately helped the business influence its top line in a meaningful way!
By recalibrating their cloud strategy, we help businesses leverage the benefits of the cloud and harness the power of data-driven business intelligence. Speak to us to find out how we can leverage the cloud to help you unlock business value and overcome the challenges of data silos, data latency and more!